The Bahrain Institute of Banking and Finance (BIBF) is launching a training course to highlight new Sharia standards that were recently announced by  the Bahrain-based Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).

To be held from June 24 to 26, the BIBF course will discuss the reasoning behind these new AAOIFI standards, clarify their applications in common Islamic banking tools, as well as explaining their legal implications.

In addition, participants will get a clear understanding of other key Sharia standards and the Sharia basis for Islamic financial products.

Head of the Centre for Islamic Finance at BIBF, Hani Redha, said: "Bahrain has always been at the forefront when it comes to setting the standards which regulate Islamic financial transactions around the world."

"As a global leader in Islamic finance training and thought leadership, it is our role to keep Islamic finance practitioners up-to-date with latest developments and trends within this field," he noted.

Among the instructors for the course are Shaikh Dr Nizam Yaquby, and Shaikh Essam Eshaq, two of the most prominent Sharia scholars in the Islamic banking industry.-TradeArabia News Service