BAB To Promote Islamic Banks

The Bahrain Association of Banks (BAB) is to have a national pavilion for the first time at this year's World Islamic Banking Conference (WIBC) in the kingdom.

The pavilion, supported by the Economic Development Board, will host a selection of member banks, showcasing the strength and depth of Islamic financial institutions in Bahrain.

"As a major event in the kingdom's financial calendar, we are keen that our member banks have the largest participation possible in a cost effective manner at the 16th World Islamic Banking Conference," said BAB chief executive Robert Ainey.

"The aim is to allow greater participation by smaller organisations who may not have had the resources to have a standalone presence at past events."

The BAB represents and advocates the interests of all the various licensed financial institutions in Bahrain and works closely with the Central Bank of Bahrain and other government authorities at the highest levels on issues of banking policy and regulation, as well as actively promoting Bahrain as an international financial centre.

"Islamic finance continues to enlarge its geographic spread - notwithstanding the effects of the global economic slowdown," said World Islamic Banking Conference managing director David McLean.

"The Bahrain Pavilion and the other international pavilions that will be represented at this year's WIBC reflect this growth and also underscore the importance of WIBC in the global Islamic finance arena.

"BAB and EDB are our valued partners and their role at WIBC this year enables Bahrain to further showcase its world-class capabilities and to support the continued growth of the Islamic banking industry globally."

More than 1,200 industry leaders are expected to attend the conference which will be held from December 6 to 8.

From Gulf Daily News