BIBF & IsDBI to enhance global Islamic Finance expertise

By Shilpa Annie Joseph, Official Reporter
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BIBF-IsDBI Partnership
Rep. Image | Courtesy: BIBF

The Bahrain Institute of Banking and Finance (BIBF) and the Islamic Development Bank Institute (IsDBI) have entered into a collaborative initiative to provide specialized training programs aimed at strengthening the global Islamic finance community.

This partnership between IsDBI and the BIBF focuses on elevating the industry, forging international connections, and nurturing talent on a global scale.

The programs cater to a diverse range of professionals from various financial institutions, regulatory bodies, supervisory authorities, and legal experts within the Islamic finance industry.

According to the statement, “The first workshop, titled “Risk Management and Stress Testing for Islamic Financial Institutions,” scheduled for October 2023, will provide practical guidance on building strong risk management frameworks, aiding Islamic financial institutions in effectively handling key risks, including concentrations, Expected Credit Losses (ECL) under IFRS-9, Shariah-compliant securitization, and off-balance sheet exposures.”

The workshop will also include 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, stated that, “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 the BIBF, emphasized their commitment to the partnership, saying, “Our collaboration with the Islamic Development Bank Institute through IsDBI aims to extend our reach and serve a wider audience, including the member countries of the Islamic Development Bank.”

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