14 Apr 2013

MANAMA, BAHRAIN – 14 April 2013 – In line with its long standing commitment to playing a real and meaningful role in supporting the development of Bahrain’s banking and finance industry, Ithmaar Bank once again extended its support for a major Accounting and Auditing Organisation for Islamic Financial Institution (AAOIFI) conference which starts in Bahrain today (ed note: 15/04/13).

Ithmaar Bank, a Bahrain-based Islamic retail Bank and a long-time AAOIFI supporter, is the Major Conference Partner of the Annual Sharia Conference 2013, an international two-day Conference which is being held under the patronage of the Central Bank of Bahrain.

“With our long, proud history as a pioneer of Islamic banking in the region, Ithmaar remains as committed as ever to further developing the concept of Islamic banking and finance and, more importantly, to delivering a premium Islamic banking offering,” said Ithmaar Bank Chief Executive Officer and Member of the Board, Mohammed Bucheerei.

“Our relationship with and support for AAOIFI go back to the very establishment of the Institution,” said Bucheerei. “In fact, Ithmaar Bank, then Faysal Islamic Bank of Bahrain (FIBB), the predecessor of Shamil Bank and later Ithmaar Bank, was the very first bank anywhere in the world ever to publish its financial results in accordance with AAOIFI standards,” he said.

“Global events like the AAOIFI Annual Sharia Conference present unique platforms to engage industry leaders in discussions that will successfully tackle the globalization challenges for Islamic finance,” said Bucheerei. “We are delighted to continue our long-standing tradition of supporting the Conference and to be a platinum strategic partner of the Annual Sharia Conference 2013,” he said.

“Our continued support for such events is in line with the Bank’s commitment to becoming the region’s premier Islamic retail and commercial bank as we continue to increase our focus on core banking activities while working towards restructuring our investment portfolio,” said Bucheerei. “We will continue to work towards further developing our core retail business in the year ahead with the commissioning of additional new branches as well as the introduction of new products and services,” he said.

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