IslamicFinance.de

Bahrain’s role in expanding the global reach of sharia-compliant financing looks set to broaden further through three developments firmed up recently. In July, a joint venture was formed between the kingdom’s Economic Development Board (EDB) and the Islamic Corporation for the Development of the Private Sector (ICD), to promote the sector by offering training, software and sharia-compliant financing. Moreover, a second partnership offering training programmes and research was announced between the UK-based consultancy Islamic Finance Advisory and Assurance Services (IFAAS) and the Bahrain Institute of Banking and Finance (BIBF). Finally, the International Islamic Financial Market (IIFM) is working on a contract template for sukuk, due in early 2015.