Kuwait Finance House (KFH), one of the leading Islamic Banks in the region and an integral contributor to the evolution Islamic Financial sector, announced its sponsorship of the AAOIFI - 12th Annual Conference titled ‘Towards Qualitative Growth & Standardization of Islamic Finance’ held recently at the Diplomat Hotel, Kingdom of Bahrain.

The speakers list include prominent experts, scholars, representatives of central banks, regulators, supervisory bodies and scientists.

Mr. Abdulhakeem Al Khayyat, the Managing Director and CEO at KFH-Bahrain said: “We are proud to be pursuing our sponsorship agreement with the AAOIFI and support the 12th Annual Conference, which brings together leading Shari'a scholars and practitioners from the regions’ Islamic banking sector under one roof. This conference is a significant gathering to meet and discuss all vital and priority issues in the Islamic finance industry.”

“Islamic finance has witnessed rapid growth in terms of asset base, scope of financing, and diversity of products as well as a more sophisticated infrastructure and relevant regulatory processes. At its current state this sector requires more emphasis on compliance of its products with Shari’a principles. The industry needs to be further elevated on an international level, professionally and institutionally, through the development of enhanced regulatory standards to govern and regulate all its activities and facilitate global implementation and recognition,” he added.

Amongst the topics being discussed at the conference are: the Adoption of the International Islamic Industry Technical Standards, Pioneer Bankers’ Evaluation and Views on the Standardization in Islamic Finance Industry and its Impact on IF Qualitative Growth, Standardization of Shari’ah Standards for the Islamic financial Industry at the International Level and Regulatory and Supervisory Framework Development & Main Challenges for Islamic Finance in New Markets.