Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) is hosting the annual Sharia conference in Bahrain today (April 14).

Bahrain-based AAOIFI is an Islamic international autonomous non-for-profit corporate body that prepares accounting, auditing, governance, ethics and Sharia standards for Islamic financial institutions and the industry.

Being held under the auspices of the Central Bank of Bahrain, the two-day event will see experts convene at the Al Dana Ballroom, Gulf Hotel. The conference will see discussions over eight panel sessions on key topics relevant to Islamic finance, reported the Gulf Daily News, our sister publication.

During the conference, Mousa Tariq Khouri will speak on "Relinquished Non-Sharia-Compliant Profits: Theory and Practice" and Dr Mohammad Burhan Arboona will speak on "Collusion (Pre-arrangement) Relating to Islamic Finance Transactions: Effects and Stipulations."

The other speakers lined up are: Dr Bernard Barbour who will speak on "Modular Contracting Laws for Islamic Financial Transactions", Dr Mohammad Ali Al Qari on "Legal and Beneficial Ownership: Implications in Structuring Sukuk" and "Application of Legal Rights as Subject-Matters in Sukuk", Dr Hussain Hamed Hassan on "Modern Applications of Salam Sukuk" and Dr Abdul Sattar Al Khuaildi addressing "Transactions Related to Stocks (Pledge, Lending, Leasing, Utilisation) from a Sharia Perspective."

As an independent international organisation, AAOIFI is supported by institutional members (200 members from 40 countries) including central banks, Islamic financial institutions, and other participants from global Islamic banking and finance industry, worldwide.-TradeArabia News Service