AAOIFI 18th Annual Shari'ah Boards Conference set to be held on 25th and 26th October 2020 virtually

Due to several restrictions imposed by governments around the world due to COVID-19 pandemic and for the benefit of all, this year the conference will be held virtually

  

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is pleased to announce the 18th Annual Shari’ah Boards Conference to be held virtually under the auspices of Central Bank of Bahrain on 8-9 Rabi Al-Awwal 1442H, 25-26 October 2020.

The annual conference is considered as one of the most important gathering in Islamic finance industry for which Shari’ah scholars, policymakers and decision-makers come together on one platform to deliberate and discuss pressing topics in Islamic finance industry globally. Due to several restrictions imposed by governments around the world due to COVID-19 pandemic and for the benefit of all, this year the conference will be held virtually.  

The two-day conference will have keynote speeches in addition to four panel discussions with renowned Shari’ah scholars, leaders and experts in Islamic finance industry. The panel discussions will focus and deliberate on AAOIFI Shari’ah standard 36 “impact of contingent incidents on commitments” in the light of COVID-19, impact of adopting an alternative indicator to LIBOR for Islamic financial transactions, Shari’ah standard 59 “Sale of Debt” (Bay’al-Dain) and its impact on Islamic finance industry and the role of technology in the post COVID-19 world.

On this occasion, H.E. Shaikh Ebrahim Bin Khalifa Al Khalifa, the Chairman of AAOIFI Board of Trustees stated that “Shari’ah Board Conference organized by AAOIFI in collaboration with the Central Bank of Bahrain and other Islamic financial institutions has been playing an important role in guiding the Islamic finance industry globally for last 17 years, its role in providing clarification and guidance on key matters is more important during these globally challenging times. We are pleased to bring forth this important conference during these difficult times of COVID-19 pandemic with the support of key institutions and partners.”

The participants at the conference will include, Shari’ah scholars and senior representatives from central banks, regulatory authorities, financial institutions, accounting and auditing firms, legal firms, universities, higher learning institutions, and media, from around the world.

Attendance at the conference is free-of-charge. To register for the event and view the tentative agenda, please visit: bit.ly/3mIxanm. The last date for registration is 24th October 2020.

About AAOIFI: 

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), established in 1991 is the leading international not-for-profit organization primarily responsible for development and issuance of standards for the global Islamic finance industry.

As a leading standard-setter for the international Islamic finance industry, AAOIFI has issued a total of 114 standards and technical pronouncements – comprising 59 Shari’ah standards, 31 accounting standards, 8 auditing standards, 3 codes of ethics and 13 governance standards for the international Islamic finance industry.

AAOFI based in Bahrain is supported by over 200 institutional members, including central banks and regulatory authorities, financial institutions, accounting and auditing firms, and legal firms, from over 45 countries. Its standards and technical pronouncements are currently followed by leading Islamic financial institutions across the world and have introduced a progressive degree of harmonization of international Islamic finance practices. 

For more information on AAOIFI and its activities, please contact

Dr. Rizwan Malik, Senior Manager, Standards Implementation and Strategic Developments, AAOIFI, e-mail: rmalik@aaoifi.com    

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