The Bahrain Institute of Banking and Finance (BIBF) has announced a strategic collaboration with the Islamic Development Bank Institute (IsDBI) to provide specialized training programs designed to bolster the global Islamic finance community.
These comprehensive programs are tailored to cater to a diverse audience, including professionals from various financial institutions, regulatory bodies, supervisory authorities, and legal experts within the Islamic finance industry.
The inaugural workshop, titled “Risk Management and Stress Testing for Islamic Financial Institutions,” is scheduled for October 2023. This workshop will offer practical insights into establishing robust risk management frameworks, equipping Islamic financial institutions with the tools needed to effectively manage critical risks such as concentrations, Expected Credit Losses (ECL) under IFRS-9, Shariah-compliant securitization, and off-balance sheet exposures. The workshop will also incorporate solvency stress testing simulations based on the Islamic Financial Services Board (IFSB) and IFRS-9 ECL frameworks.
Dr. Sami Al-Suwailem, Acting Director General of IsDBI, expressed his satisfaction with the partnership, saying, “We are glad to join hands with BIBF to offer specialized programs to strengthen the human capital of the Islamic finance industry.”
Dr. Ahmed Al Shaikh, CEO of BIBF, emphasized their dedication to this collaboration, stating, “Our partnership with the Islamic Development Bank through IsDBI aims to extend our reach and serve a wider audience, including the member countries of the Islamic Development Bank.”
This partnership between IsDBI and BIBF is centered around elevating the Islamic finance industry, fostering international connections, and nurturing talent on a global scale. For further details about the upcoming workshop and registration information, interested parties are encouraged to contact islamicfinance@bibf.com. This collaborative effort signifies a significant stride towards fortifying the foundations of Islamic finance worldwide.
