Bahrain Institute of Banking and Finance has signed a memorandum of understanding (MoU) with KPMG in Sri Lanka to offer the financial services industry in Bahrain and the wider region with the International Financial Reporting Standards (IFRS) training.

The training courses will focus on the latest IFRS pronouncements and updates with practical application techniques incorporating case-based learning, said a report in the Gulf Daily News (GDN), our sister publication.

The agreement was signed by KPMG in Sri Lanka managing partner and head of IFRS KPMG Middle East and South Asia region Reyaz Mihular and BIBF's head of centre for accounting and finance Deen Jayah.

KPMG will help develop and share IFRS training content, and provide technical trainers to deliver courses teaming with BIBF.

"KPMG is a leading 'big four' firm globally with a strong regional position and will be able to offer BIBF an in-depth, practical insight into the regional practices of IFRS application to help industry practitioners understand and implement these standards", said BIBF Director Solveig Nicklos.

"This collaboration will be pivotal in meeting the training needs of finance professionals in the banking and financial services industry," Jayah said.

"We are pleased to be able to offer the industry unparalleled value by providing the latest updates with KPMG, in the form of quality training." - TradeArabia News Service