Central Bank of Sudan in bilateral talks with the BIBF

The Bahrain Institute of Banking and Finance (BIBF) received a Sudanese delegation comprising of His Excellency Dr. Badreldin Gurashi Mustafa, the First Deputy Governor of the Central Bank of Sudan and his team accompanied by His Excellency Mr. AbdulRahman Khalil, the Sudanese Ambassador to Bahrain.

The Sudanese delegation was welcomed by the BIBF’s Deputy Director, Dr. Ahmed AbdulHameed Al Shaikh and the Head of the Islamic Finance Centre Mr. Mujtaba Khalid. During the meeting, both sides held bilateral discussions on mutual cooperation in the field of Islamic Finance Training.

The BIBF’s Centre for Islamic finance was established in 1997 to assist in fostering the growth of the Islamic banking community in Bahrain, throughout the Middle East and in other traditional commercial banking communities.

With Islamic Finance having emerged as a fast-growing, prominent, alternative financial intermediation mechanism on the world financial stage, the BIBF’s Centre for Islamic Finance has a global footprint of having trained in more than 20 countries worldwide and has the most robust menu of training offerings in Islamic finance globally.

On this occasssion, Dr. Ahmed Al Shaikh said “It is pertinent to note that Sudan is an economy which is 100% Riba (Interest) free and therefore there are many areas of mutual collaboration in the field of Islamic finance training that can be explored.”

The BIBF Islamic Finance Centre is the oldest Islamic Finance professional qualification provider in the world and the only Islamic finance-training provider, which has a qualification leading to a UK MBA.

The Head of the Islamic Finance Centre, Mr. Mujtaba Khalid gave an overview of the training provided and showcased the e-Learning Portal going live end of March. The Islamic Finance Centre has a 4-year globally exclusive agreement with AAOIFI to bring all Standards onto an e-Learning platform.

The future strategy of the Islamic Finance Centre is to leverage technology to facilitate the global Islamic finance industry. In-line with this, an Islamic finance mobile application for retail banks has also been developed by the BIBF in partnership with Europe-based UPaid.

The BIBF also offers Islamic finance simulation courses – the first offering of its kind – in the region and will be run in the BIBF’s Dealing Room.