MANAMA, BAHRAIN – The Bahrain Institute of Banking and Finance (BIBF) and the Islamic Development Bank Institute (IsDBI) have decided to jointly provide training programs aimed at strengthening the global Islamic finance community.
The programs cater to professionals from financial institutions, regulatory bodies, supervisory authorities and legal experts within the Islamic finance industry.
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 securitisation, 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, a press release said.
Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “We are glad to join hands with BIBF to offer specialised programs to strengthen the human capital of the Islamic finance industry.”
Dr. Ahmed Al Shaikh, CEO of the BIBF, said, “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.”
This partnership between IsDBI and the BIBF focuses on elevating the industry, forging international connections, and nurturing talent on a global scale, the release added.
