The BIBF delivers Islamic finance training for the Central Bank of Libya

After the remarkable success of delivering Islamic finance training for the World Bank last year, the World Bank has selected Bahrain Institute of Banking & Finance (BIBF), this time to deliver a more specialised and advanced level training in the form of five-day Islamic banking & finance workshop, as part of the human capital development efforts in Islamic finance for the Central Bank of Libya.

The sessions were led by the BIBF Islamic finance experts along with several World Bank consultants and an IMF advisor. Dr. Ahmad Asad, BIBF’s Principal Lecturer in the Islamic Finance Centre, delivered on the topic of Islamic Finance Philosophies & Instruments, while Mr. AlFatih Gessan P., BIBF’s Senior Lecturer in the Islamic Finance Centre, focused on Accounting for Islamic Financial Institutions.

The training participants were senior officers in the supervision & compliance department of the Central Bank of Libya, which included the Director of the Islamic Banking Department, Dr.Fathi Euqub.

This training comes in line with the BIBF strategy to further its reach globally, given that it is the oldest Islamic finance professional qualification provider in the world. Over the past two years, the BIBF has trained central banks and government-related entities from the UK, Ghana, Kazakhstan, Bangladesh, UAE, Oman and Russia, reflecting its global impact. The institute has further broadened its global footprint by collaborating with universities in the United Kingdom such as the University of Coventry and University of Bolton to facilitate Islamic finance offerings.

To further expand its global outreach, the BIBF launched an e-Learning platform in exclusive partnership with both Islamic finance standard setting bodies, AAOIFI and IFSB, and also developed the first-ever Islamic banking simulation software in the world.