Waqf Fund initiatives enhance Islamic financial services

The Waqf Fund held its 7th Roundtable Discussion on "Development of internal Shari’a Review, Internal Shari’a Audit and External Shari’a Audit" at Ritz Carlton Hotel. The half-day session was attended by a select group of professionals including representatives of professional Big 4 firms, CEOs of Islamic banks and AAOIFI, Internal Shari’a Reviewers and officials of the Central Bank of Bahrain (CBB). The participants discussed ways and means to strengthen the Shari’a compliance of Islamic financial institutions and provide additional comfort to regulators, investment account holders, shareholders and the general public about their compliance with Shari’a which in turn would enhance the soundness of the Islamic Financial Services sector in the kingdom and qualifying it for more prosperity and success. The conclusions reached and recommendations provided by the Roundtable Discussion will be compiled and submitted to the Central Bank for its consideration. At the end of the meeting, Mr. Khalid Hamad, Chairman of the Waqf Fund, thanked the presenters and the participants for their attendance and active participation. For full press release please visit: www.cbb.gov.bh