BIBF and IsDBI Conclude Virtual Training on Risk Management and Stress Testing for Islamic Financial Institutions

The Bahrain Institute of Banking and Finance (BIBF) and the Islamic Development Bank Institute (IsDBI) recently concluded a two-day virtual training program on "Risk Management and Stress Testing for Islamic Financial Institutions" from July 3-4, 2024. The program was attended by a diverse group of stakeholders, including regulators and senior executives from Islamic financial institutions, aiming to enhance their understanding of the latest developments and best practices in risk management and stress testing within the Islamic finance industry.

The training covered a wide range of topics, including:

Fundamentals of risk management in Islamic finance

Regulatory requirements and guidelines for risk management

Developing robust stress testing frameworks for Islamic banks

Integrating Shariah principles into risk management practices

Liquidity risk management and capital adequacy

Emerging risks and their implications for Islamic financial institutions in light of standards issued by the Islamic Financial Services Board (IFSB)

Dr. Ahmed Al Shaikh, Chief Executive Officer at BIBF, expressed his satisfaction with the collaboration, stating, "We are delighted to have collaborated with the Islamic Development Bank Institute to deliver this timely and valuable training program. The program was designed to equip participants with the knowledge and tools needed to effectively manage risks and ensure the resilience of their Islamic financial institutions."

Dr. Sami Al-Suwailem, Acting Director General of the IsDBI, added, "This joint initiative reflects our commitment to supporting the development of the Islamic finance industry by providing high-quality, industry-relevant training programs. The active participation and engagement of the attendees were key to the success of this program, and we are encouraged by the positive feedback received."

The training program, facilitated by Dr. Abozer Mohamed, a Senior Islamic Finance Specialist at IsDBI, was conducted in a highly interactive format. It included case study presentations, group discussions, and opportunities for participants to share their experiences and best practices. The virtual format enabled participants from across the Middle East and beyond to attend the program, further enhancing the diversity of perspectives and insights shared during the sessions.

For more information about the program or future collaborations between BIBF and the IsDB Institute, please contact islamicfinance@bibf.com.