Bahrain Institute of Banking and Finance (BIBF) recently signed a Memorandum of Understanding (MoU) with Ibdar Bank to deliver a tailor-made Islamic Finance specialised Masterclass on Islamic Investment Banking.
The MOU stipulates that the BIBF will deliver an interactive and practical Masterclass for 5 days on Islamic Investment Banking that provides a comprehensive coverage of key aspects of Islamic Investment Banking issues, with special reference to AAOIFI related standards of Investment Banking.
The Islamic Investment Banking MasterClass is a new customised offering themed on and will cover key areas of Islamic Investment Banking, such as all the (AAOIFI) related standards as well as covering the key principles and fundamentals of Sukuk that are essential in the understanding of Islamic Investment banking.
On this occasion, BIBF’s Deputy Director, Dr. Ahmed AbdulGhani Al Shaikh, stated, “The Memorandum of Understanding comes at a time where the Islamic Finance Industry is expected to grow more rapidly in the coming years. Consequently, Bahrain Institute of Banking and Finance (BIBF) is very proud to be part of this thriving industry. At the BIBF, we seek to sustain our status as a pioneer in the area of Islamic Banking and Finance training and education not only regionally, but also globally. The BIBF offers customised Masterclasses that provide training solutions for businesses that are specific to market requirements.”
On his part, Mr. Ahmed AlRayes, Ibdar Bank Acting Chief Executive, highlighted the importance in strengthening of the cooperation between Ibdar bank and BIBF, and stressed on the value of the mutual relationship between both organisations in further enhancing the expertise within the local banking and financial sector, in particular Islamic Finance training and development. Furthermore, he said, “This cooperation reflects on the growth of Islamic Finance industry and we as one of the leading banks in Islamic Finance continue to work towards enhancing skills on our human capital. We see the value in the growth of this sector in international markets, which will further strengthen Bahrain’s positions as a hub for Islamic Financial dealings not only regionally but internationally as well.”
The 5-day MasterClass will provide a comprehensive analysis of the Islamic Investment Banking tying it with all the related AAOIFI standards.
The signing of this MoU provides the BIBF and Ibdar Bank the opportunity to raise their collaborative efforts and increase cooperation. Through this step, BIBF aims to provide continuous training and development opportunities for human capital development, specifically for those working in the financial sector, especially finance and Islamic banking, to meet the requirements of this dynamic sector.