Manama: Al Salam Bank-Bahrain announced the sponsorship of the Islamic Finance Handbook for practitioners, produced locally by the Bahrain Institute of Banking and Finance (BIBF), to further bolster Islamic Finance training, reinforcing the Kingdom’s position as a hub of the Islamic Finance Industry in the region.
The Islamic Finance Handbook will cover all major Islamic financial products and services covering ongoing developments including the expected growth in FinTech and Takaful Insurance. The Handbook will also document Bahrain’s contribution to the global Islamic finance industry by showcasing products and transactions that originated from Bahrain. The book will incorporate case-studies from Al Salam Bank Bahrain as well as interviews and thoughts from the Bank’s senior management on various aspects of Islamic Finance.
On this occasion, the Group CEO of Al Salam Bank-Bahrain Mr. Rafik Nayed said, “As the home of some of the most innovative financial institutions in the global Sharia-compliant landscape, Bahrain is at the forefront of the international Islamic financial services industry. Al Salam Bank-Bahrain is proud to play a role in supporting the continued growth of the industry and increase awareness on the ongoing developments within the sector.”
The BIBF Director, Dr. Ahmed Al Shaikh said, “We’re pleased to see Bahrain again playing its part to foster the Islamic finance industry on a local and global scale, and we are grateful to Al Salam Bank-Bahrain – as one of the leading Islamic financial institutions in the region – for its continuous support to the industry.”
The BIBF’s Head of Islamic Finance Centre, Mr. Mujtaba Khalid, stated, “Currently, there are many academic and theoretical text books pertaining to Islamic finance around the world but there are very few – if any – practical handbooks for professionals with knowledge that can be applied in the workplace. Domestically, this will be the first practical handbook of its kind, which will facilitate applied knowledge for the industry.”
The BIBF Centre for Islamic Finance was established in 1997 to help promote the growth of both Islamic finance and banking. Today, the BIBF offers degrees and certifications, and conducts training in more than 27 countries worldwide.
About Al Salam Bank-Bahrain
Al Salam Bank-Bahrain B.S.C (ASBB) is an Islamic bank headquartered in the Kingdom of Bahrain, and licensed and regulated by the Central Bank of Bahrain. ASBB was established on 19 January 2006 in the Kingdom of Bahrain with paid-up capital of BD 120 million (US$ 318 million) and commenced commercial operations on 17 April 2006. The Bank was listed on Bahrain Bourse on 27 April 2006 and subsequently on the Dubai Financial Market (DFM) on 26 March 2008.
ASBB completed its merger with the Bahraini Saudi Bank (BSB) on 22 December 2011. On 2 February 2014, Al Salam Bank-Bahrain and BMI Bank B.S.C. (c) confirmed the conclusion of a business combination between the two institutions after obtaining the approval of their shareholders at their respective extraordinary general assembly meetings, and of 30 March 2014 BMI Bank became a wholly owned subsidiary of ASBB.
ASBB offers its customers a comprehensive range of innovative and unique Shari’a-compliant financial products and services through an extended network of branches and ATMs, utilizing the state-of-art technologies to meet various banking requirements. In addition to its retail banking services, the Bank also offers Corporate Banking, Private Banking, Asset Management and Treasury services. The Bank’s high-calibre management team is comprised of highly qualified and internationally experienced professionals with proven expertise in key areas of banking, finance, and related fields.
The BIBF is the leading training and education provider in the region, and is affiliated to the Central Bank of Bahrain. The Institute plays a vital role in the development of human capital in the Kingdom of Bahrain, the Gulf region, the wider Middle East, Africa and beyond.
The BIBF’s commitment to excellence has strengthened its position as the leading educational provider across all major business disciplines. The BIBF serves as a partner to numerous world-class institutions; delivering Thought Leadership, Assessment and Training in the areas of:
- Islamic Finance,
- Executive Development,
- Accounting & Finance,
- Academic Studies,
- Leadership & Management,
- Supply Chain Management,
- Digital Transformation & Project Management;
Resulting in a Complete Business Solution.