Manama, Bahrain – 4 February 2024

The Bahrain Institute of Banking and Finance (BIBF) successfully held the inaugural meeting of its reconstituted Islamic Finance Advisory Committee (IFAC) at the institute Headquarters.

The meeting addressed critical agendas, including the appointment of the Chairman and Deputy Chairman, approval of the IFAC Charter, and a comprehensive review of the BIBF Islamic Finance Centre’s plan for 2024.

The distinguished members of the IFAC, representing a wealth of experience in the Islamic banking and finance sector across diverse countries in the region, include:

• Mr. Adnan Ahmed Yousif – Bahrain Association of Banks (BAB)
• Ms. Amal Saif – Head of Islamic Operations at Bahrain Islamic Bank
• Ms. Einas Mohamed Raheemi – Head of Enterprise Support Services & Sustainability at Ithmaar Bank Bahrain
• Dr. Fatin A Zadjali, Head of Learning & Development at Bank Dhofar Oman
• Mr. Hussain abdulhaq – Head of Treasury & Financial Markets at Al Salam Bank Bahrain
• Dr. Jarmo Kotilaine – Economic Advisor at Tamkeen Bahrain
• Ms. Khawla Ebrahim – Director of Islamic Financial Institutions Supervision Directorate at the Central Bank of Bahrain
• Sheikh. Dr. Mohamed Arbouna – Head of Shari’ah Compliance at Al Salam Bank Bahrain
• Dr. Sutan Emir Hidayat – Director of Islamic Economy & Finance Ecosystem at Indonesia Islamic Economy and Finance Committee
• Dr. Tarek Seif – General Secretary at Insurance Federation of Egypt

Mr. Adnan Yousif was appointed as the Chairman of IFAC while Ms. Khawla Ebrahim was selected as the Deputy Chairman. The term for both positions is set at three years.

On this occasion, Dr. Ahmed Al Shaikh, Chief Executive Officer of the BIBF, said, “The BIBF is thrilled to embark on this new chapter with the reconstituted IFAC, reinforcing its commitment to excellence and innovation in Islamic banking and finance education, research, and consultation. The institute looks forward to a productive and impactful collaboration with IFAC in achieving its strategic objectives for 2024 and beyond.”

Dr. Rizwan Malik, Head of Islamic Finance Centre at the BIBF stated, “The IFAC plays a pivotal role in providing strategic advice and direction to the Islamic Finance Centre at the BIBF to enhance its offerings within the Islamic banking and finance industry. The committee aims to bolster existing programmes while introducing new initiatives in training, research, and consulting. This move aligns with the BIBF’s commitment to creating a holistic ecosystem that corresponds with its vision, mission, and strategic pillars.”