The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) held its 24th Annual Shari’ah Boards Conference on 11 and 12 October at the Crowne Plaza Hotel in Bahrain, supported by the Central Bank of Bahrain. Approximately 1,000 Shari’ah scholars and finance experts attended in person, while over 4,000 participated online. For more than two decades, this influential conference has served as a platform for harmonising Shari’ah opinion and strengthening Shari’ah compliance governance across the Islamic finance industry.

The agenda included five sessions covering key Fiqh and technical issues, such as harmonising AAOIFI Shari’ah Standards with legal systems and the impact of new circumstances on contracts. The opening ceremony featured keynote speeches by H.E. Shaikh Ebrahim bin Khalifa Al Khalifa of AAOIFI, Dr. Ali Yassin Sheikh, and Dr. Rabiu Olowo, among others.

H.E. Shaikh Ebrahim conveyed greetings from Bahrain’s King and Crown Prince, highlighting the conference’s significant role in the global Islamic finance sector and its alignment with AAOIFI’s 35th anniversary. AAOIFI signed memoranda of understanding with various organizations, including the Financial Reporting Council of Nigeria and the Union of Arab Securities Authorities. The conference highlighted the international recognition of Islamic finance as a sustainable financial option. Major partners included the Saudi National Bank, while gold partners featured Bahrain Islamic Bank and Abu Dhabi Islamic Bank. The proceedings, conducted in Arabic, were interpreted into English and Urdu and streamed live on various digital platforms.