As part of its efforts to promote Islamic finance around the world, the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) secretary-general Dr Mohamad Nedal Alchaar, and the Grand Mufti of the Shura Council of Russian Muf…
Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) will convene its Annual Shari’a Conference on 26-27 May 2010 in Bahrain Conference Centre, Crowne Plaza Hotel, Manama, under the auspices of Central Bank of Bahrain.
Amongst the topics that will covered at the conference are applications of Shari’ah on calculation and allocation of profit allocation in Mudaraba (investment management) and Musharaka (partnership) transactions, distribution of Takaful surplus and relationship between policyholders’ fund and management, potential application of “sale and buyback and cooling-off clause in deferred sale” in addressing liquidity shortfall, Shari’ah-compliant mechanisms in dealing with delinquent debts and compensation for delay in debt repayment, and SPV and fiduciary roles in issuance of Islamic financial instruments.
“This Conference, which is a premier event for the international Islamic finance industry, will discuss prevailing challenges and opportunities so that Islamic finance can be in a position to expand systematically and sustainably.” said Dr. Mohamad Nedal Alchaar, the Secretary General of AAOIFI.
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