Within the framework of the SESRIC Central Banks Capacity Building Programme (CB-CaB), the Centre, in collaboration with the Bahrain Institute of Banking and Finance (BIBF), organised a Training Course on “Islamic Banking and Finance for Central Banks and Monetary Authorities” on 06-08 March 2023 through an online video conferencing platform.

The training course was provided by competent experts from BIBF for the benefit of 114 experts and executives from Central Banks and Monetary Authorities in 29 OIC Member Countries.

The main objective of the training course was to provide insights into the fundamentals of Islamic Banking and Finance, including the application of Islamic nominated contracts in Islamic Financial Products as well as Sharia requirements for structuring Islamic Finance Products and Services. In addition, the activity shed light on various important aspects such as legal framework and documentation for inspection, accounting and governance of Islamic Financial Institutions for Central Banks and Monetary Authorities, and Islamic Finance industry trends.

Mr. Onur ÇAĞLAR, Director of the Training and Technical Cooperation Department at SESRIC, welcomed the participants to the training course and expressed gratitude to BIBF for their valuable partnership in implementing the activity. Furthermore, Mr. ÇAĞLAR briefed the participants on SESRIC’s efforts in the area of Islamic banking and finance considering its importance in the OIC agenda and highlighted the Centre’s willingness and readiness to further support the efforts of Central Banks and Monetary Authorities in the OIC Member Countries in this important domain.

Representing BIBF, Mr. Mujtaba KHALID, Head of Islamic Finance Centre, delivered his welcoming message by briefing the participants about the BIBF and the Institute’s areas of work. Mr. KHALID stressed on the crucial role of Islamic banking and finance in contributing to the inclusiveness of the financial system in the OIC Member Countries and urged the participants to increase their capacities and knowledge in this important domain.

The Central Banks Capacity Building Programme (CB-CaB) was developed and initiated by SESRIC in 2009 to strengthen institutional and human resources capacities by sharing knowledge, experiences and best practices among the Central Banks and Monetary Authorities in the OIC Member Countries. Within this framework, the Centre organises capacity-building activities for the benefit of the staff of the Central Banks and Monetary Authorities in the OIC Member Countries by using various modalities such as training courses, training workshops, and study visits. For more information on the Central Banks Capacity Building Programme (CB-CaB), please visit: https://www.sesric.org/cbp-centralbanks.php

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