Kuwait Finance House (KFH) Group attended the 19th Annual Conference of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) in Bahrain. The conference, titled "Leveraging Islamic Finance to Build a Sustainable, Effective, and Resilient Halal Ecosystem for Muslim Economies," was organized with the support of the Central Bank of Bahrain and in collaboration with the IsDB Institute.

KFH’s participation reflects its commitment to efforts aimed at developing and strengthening Islamic banking, as well as its support for promoting Sharia-compliant financial products and services. The conference is a major event that brought together Shariah scholars and decision makers to discuss key topics and urging updates in the Islamic Finance Industry at the global level.

In recognition of its pivotal role in the regional and global industry, KFH was lauded by conference participants. H.E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman of the AAOIFI Board of Trustees, honored KFH's delegation for their invaluable contributions and participation in the conference. This honor acknowledges KFH's ongoing efforts and leadership in advancing Islamic finance services, expanding their reach, and driving its successful journey.

Through seven panel discussion, the two-day conference featured keynote addresses from distinguished dignitaries, policymakers, central bankers and officials from supervisory and regulatory authorities. These discussions explored how Islamic finance can build a sustainable Halal ecosystem, covering topics such as transitioning from Halal finance to a Halal economy, enhancing supply chains and addressing governance and transparency in Islamic finance, among other relevant topics.

The conference encompassed diverse live and virtual discussions during which renowned Islamic finance leaders presented their perceptions on developing Islamic finance, handling challenges, and maintaining Shariah aspects of transactions as part of the issues raised.

During its participation, KFH had the opportunity to exchange thoughts and ideas with pioneers and experts in the Islamic finance industry. It was also an opportunity to highlight key issues requiring practical solutions and implementations in the Islamic banking industry. Moreover, the industry requires continuous research and improvement to address all obstacles to its development, particularly in areas such as promoting economic efficiency and financial stability.

Established in 1991 in Bahrain, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is the leading international non-profit organization primarily responsible for development and issuance of standards for the global Islamic finance industry. It has issued a total of 122 standards in the areas of Shariah, accounting, auditing, ethics and governance for international Islamic finance. It is supported by a number of institutional members, including central banks and regulatory authorities, financial institutions, accounting and auditing firms, and legal firms, from over 45 countries.  Its standards are currently followed by all the leading Islamic financial institutions across the world and have introduced a progressive degree of harmonization of international Islamic finance practices.