Ithmaar Bank, a Bahrain-based retail bank, has once again extended its support for a major Accounting and Auditing Organisation for Islamic Financial Institution (AAOIFI) event in Bahrain.

Ithmaar, a long-time AAOIFI supporter, is the platinum sponsor of the Annual Sharia Conference 2012, an international two-day conference which starts today (May 7) at the Diplomat Radisson Blu Hotel, Residence and Spa in Manama.

"With our long, proud history as the undisputed 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 Mohammed Bucheerei.

"Our relationship with and support for AAOIFI go back to the very establishment of the institution.

"In fact, Ithmaar Bank, then Faysal Islamic Bank of Bahrain, 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.

"In recent years, we have seen a paradigm shift in favour of Sharia-compliant finance, not only in the region but at an international level also."

"We see global events like the AAOIFI Annual Sharia Conference as a unique platform to engage industry leaders in discussions that will successfully tackle the globalisation challenges for Islamic finance," he said.

"We are delighted to continue our long-standing tradition of supporting the conference and to be a platinum strategic partner of the event." – TradeArabia News Service