Date: 19.12.2009
Annual international conference on Islamic banking and finance of the Association of Accounting and Auditing of Islamic financial institutions (AAOIFI) and the World Bank took place.
AAAIFI is the largest international organization, which unites different Islamic institutions worldwide.
At the opening ceremony the welcoming address was spoken by the Executive director of AAAIFI Mrs. Nedal Alshaar, the Chairman of the Board of Trustees of AAOIFI sheikh Ibragim bin Khalifa al Khalifa, Minister of Finance of the Kingdom of Bahrain sheikh Akhmed bin Muhammad alKhalifa, Head of the Central Bank of Bahrain Rashid Muhammad alMaraj, vice-president of the World Bank of Asian region Mrs. James Adams.
After greetings the ceremony of awarding the graduates with certificates of Shariah advisers and specialists in the field of Islamic audit. Among graduates of this year is one representative from Russia – Rashid hazrat Mulyukov.
Later during the session the participants of the conference discussed some products of Islamic finance in terms of encountered problems during implementation as well as in compliance with Shariah, including the possible conflicts in Shariah standards and regulations. In particular, separate sessions were devoted to such operation as tawarruk, sukuk and also to current investment accounts. The Conference will last two days.
From Russia the Conference is attended by members of working group on Alternative (Islamic) financial institutions and products Rustam Vakhitov, Aleksandr Kazakov and Madina Kalimullina.
Within the conference they held a number of meeting with some Islamic banks of the Persian Gulf.
Source: http://muslimeco.ru/eng/onews/2/