Mega trends in Islamic banking



More than 1,000 global industry powerhouses, policy-makers, innovators and stakeholders have converged in Bahrain for the 26th edition of the World Islamic Banking Conference (WIBC) under the patronage of His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa. HRH the Prime Minister yesterday deputised his adviser Shaikh Salman bin Khalifa Al Khalifa to open the WIBC. Organised by Middle East Global Advisors (MEGA) in strategic partnership with the Central Bank of Bahrain (CBB), the largest gathering of Islamic banking and finance leaders in the world concluded on an other day. The forum is focusing on the theme of ‘Mega trends in banking and finance’ in line with its steady vision to serve as compass for the global Islamic finance and banking industry. The conference this year will promote standardisation and harmonisation of Islamic finance standards, value-creation via M&A and consolidation, sizing up the sukuk market and 360-degree solutions to industry challenges. CBB executive director for banking supervision Khalid Hamad said, “Every year at the WIBC we have addressed the most pressing issues facing the Islamic banking industry. This year’s edition is focussing on harmonisation of Islamic finance standards, the digital transformation, sustainable finance, mergers and acquisitions and consolidation in the GCC region. “For over a quarter of a century, WIBC has been the definitive platform for C-level executives to discuss strategies to navigate the myriad complexities and subtle nuances of the global economy – and given the uncertain economic environment that we find ourselves in, these discussions will prove even more critical to better understand the shifting economic, demographic, technological and regulatory landscape. “The conference is tackling key topics such as upcoming potential threats facing the industry, digital transformation, along with other major trends that are affecting Islamic and non-Islamic banking. —Zawya/Reuters