The Sharia Board of Amjad Islamic Microfinance Bank took part in the 24th Annual Conference of Sharia Boards organized by AAOIFI in Manama on 11–12 October 2026, and on its sidelines visited Bahrain Islamic Bank, AAOIFI headquarters, and the General Council for Islamic Banks and Financial Institutions (CIBAFI).
Manama – Kingdom of Bahrain | 11–13 October 2026
As part of Amjad Islamic Microfinance Bank's commitment to strengthening its adherence to Islamic Sharia principles and keeping pace with developments in the Islamic finance industry, the Bank's Sharia Board – chaired by Sheikh Mohammed Saeed Basaleh, with members Sheikh Dr. Ahmed Saleh Bafadhl and Sheikh Dr. Ameen Salem Bin Othman – participated in the 24th Annual Conference of Sharia Boards, organized by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) in Manama, Bahrain, on 11–12 October 2026.
The conference discussed a number of contemporary jurisprudential and banking issues, with the participation of distinguished scholars, experts and specialists in Islamic finance. Its sessions covered key topics, most notably aligning Sharia standards with legal systems, estimating the actual direct cost of lending, two-tier syndicated financing, the impact of emerging circumstances on contracts and financial obligations, and the rulings and applications of compensation for commitment.
On the sidelines of the conference, the Sharia Board carried out a program of visits to leading Islamic financial institutions in the Kingdom of Bahrain, aimed at exchanging expertise and learning from practical experience in applying Sharia standards and developing financial products and services.
The program included a visit to Bahrain Islamic Bank, where the Board learned about its banking experience, its expertise in Islamic banking, and the workings of its Sharia board. The Board also visited AAOIFI headquarters and discussed ways to strengthen cooperation and benefit from the latest Sharia standards and scholarly publications in developing Islamic microfinance tools and enhancing the Bank's banking practices.
The program concluded with a visit to the headquarters of the General Council for Islamic Banks and Financial Institutions (CIBAFI), where the Board was introduced to the Council's activities and programs and the areas in which its services and initiatives can support the development of the Bank's business and strengthen its presence in the Islamic microfinance sector.
This participation and these visits are part of the efforts of Amjad Bank's Sharia Board to enhance scholarly and professional competence, benefit from leading banking experiences, and develop Islamic microfinance tools in accordance with Sharia principles and standards – supporting the Bank's journey and its goal of providing trusted Islamic financial services that meet customers' needs and contribute to economic development.
