PHOTO
Muscat, Sultanate of Oman: – In pursuit of excellence within all banking echelons in the Sultanate, The Oman Banks Association (OBA), co-hosted the International Islamic Financial Market (IIFM) Awareness seminar in Muscat, along with the Central Bank of Oman. The conference was held on September 11th under the auspices of H.E. Tahir Salim Al Amri, Executive President, Central Bank of Oman, who delivered a keynote speech. The seminar, held at Bank Muscat Head Office, ascertained various Omani banking activities, while coordinating with regulators on policy making and strategy building for the banking sector. Also present were dignitaries including Sheikh Waleed Khamis Al Hashar, Chief Executive Officer, Bank Muscat, and Chairman of Oman Banks Association, Muscat who delivered a welcome speech to guests attending this significant occasion.
The IIFM is a global, dynamic entity that regulates trading and capital flows across the full spectrum of Shari’ah-compliant financial instruments internationally by standardized Shari’ah-compliant Financial Documentation, Product Confirmations and Guidelines for the Islamic Financial Services Industry (IFSI). The aim of the event was to establish pellucidity in the advancing sector of the Islamic finance industry for sustainable development.
The seminar saw participation from all banking representatives in Oman along with global leaders on Shari’ah-compliancy as speakers who not only discussed IIFM standards but also consequent industry development initiatives. The day-long seminar touched upon numerous deliberations on vital subjects such as the Global Sukuk Market and its development and digitisation; the ISDA-IIFM Islamic Hedging Standards; the IIFM-BAFT Islamic Trade Finance Standards; the IIFM Islamic Liquidity Management Standards; and discussions on Global Benchmark Reforms.
The event concluded with a dialogue on the need for standardizing Takaful and Re-Takaful documentation and its impact on the sustainable development and prosperity of the Islamic finance industry. Witnessing an illustrious global and local audience, the event raised inordinate cognizance of the Islamic Finance sector and was hailed as an exceptional success with OBA at its helm.
As a non-profit entity crafted to promote financial awareness and financial inclusion, OBA continues on its prolific journey towards attaining universal access to financial services for all segments of society in the Sultanate of Oman, and supports banking excellence in Oman.
-Ends-
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
