MANAMA, 5 September 2007 — A two-day regional forum on the role of Islamic financial institutions in furthering economic and social development opens today under the patronage of Prime Minister Sheikh Khalifa bin Salman Al-Khalifa.
The event at the Ritz-Carlton Hotel and Spa is organized by United Nations Economic and Social Commission for Western Asia (UN-ESCWA) in association with the Central Bank of Bahrain (CBB).
Keynote speakers will be led by Sheikh Ahmed bin Mohammed Al-Khalifa, minister of Finance, Kingdom of Bahrain, who is also the chairman of Islamic Development Bank (IDB).
“The Islamic banking and finance industry is seeing tremendous growth and expansion due to the burgeoning demand for financial services which conform to the principles of the Shariah,” said Khalid Hamad, executive director, Banking Supervision, at the CBB.
“While Islamic financial institutions are active in extending retail banking services, investment banking and other forms of finance, there is room for enhancing their role in development finance.” The forum will focus on role of Islamic financial institutions in project finance and venture capital, among others.
