Supreme Council for Islamic Affairs president Shaikh Abdulrahman bin Mohammed bin Rashid Al Khalifa inaugurated the fourth Forum on Islamic Banking Transactions, organised by Bahrain Islamic Bank (BisB), with the participation of Sharia supervisory board members, experts, academics and university students specialising in Islamic banking.
The forum featured discussions on innovations in Islamic banking, including Sharia-compliant financing and investment, sustainable development, artificial intelligence, financial technology and digital banking services.
BisB chief executive officer Fatema Al Alawi said the forum reflects the bank’s commitment to promoting awareness of Islamic banking and providing a platform for specialists and academics to exchange expertise and discuss developments in the sector.
The event also witnessed the launch of a book entitled Origins and Development: The Story of Bahrain’s First Islamic Bank, documenting the bank’s history since its establishment in 1979 and its contribution to the development of Islamic banking in Bahrain. Several former leaders and pioneers of the bank were honoured in recognition of their contributions.
The forum also announced the winners of the Next Generation Islamic Banking Products Hackathon, organised in partnership with Injaz Bahrain to encourage university students to develop innovative Sharia-compliant investment products.
The University of Technology Bahrain team won first place for its product, Tarakum, followed by the American University of Bahrain team with Tajouri Green. The University of Bahrain team won third place for Haseela, while the Gulf University team shared third place with its product, Miraath.
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