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The General Council of Islamic Banks Launches Symposium on "Methodology of Credit Rating for Islamic Banks and Sukuk" DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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The General Council of Islamic Banks Launches Symposium on "Methodology of Credit Rating for Islamic Banks and Sukuk" Empty The General Council of Islamic Banks Launches Symposium on "Methodology of Credit Rating for Islamic Banks and Sukuk"

Post by claud39 on Wed May 01, 2019 6:41 am

The General Council of Islamic Banks Launches Symposium on "Methodology of Credit Rating for Islamic Banks and Sukuk"




30/04/2019





The General Council of Islamic Banks Launches Symposium on "Methodology of Credit Rating for Islamic Banks and Sukuk" Rc_155661250688_23





The Secretary General of the General Council of Islamic Banks and Financial Institutions, Abdul-Ilah Belaitiq, said that the Islamic financial sector in Bahrain enjoys great flexibility and has the speed to adapt to the global banking market, for several reasons the most important is that the history of the Bahraini banking sector is longstanding. 


Since Bahrain celebrated 100 years of banking in Bahrain This is due to the wisdom of the Central Bank of Bahrain and has precedence in several matters, including the application of digital technology, the open banking system and the availability of excellent control technology. Bahrain is considered one of the top 10 countries in the world with regulatory authority. 


Domains and gives them special flexibility in financial applications. This came during the launch of the General Council of Islamic Banks and Financial Institutions, the official umbrella of Islamic financial institutions, yesterday morning «Credit Rating:

"The Kingdom of Bahrain has been keen on banking technology for two years to enter the competition market in the global banking sector. This decision has great challenges and advantages, but thanks to the Central Bank of Bahrain we have been able to adapt in this field. Public relations. 

He also pointed out that there are several programs to train Bahraini cadres in the banking sector by organizing staff training programs, workshops and seminars, as well as leadership programs on strategic thinking and leadership at the University of Canada and the London School of Economics. In the banking sector, and to face challenges such as money laundering and the transfer of terrorist funds.

He predicted a better future for Bahrain's credit rating because Islamic banks have specialities and issuances such as sovereign sukuks, where green bonds have emerged to finance green projects. 

He stressed the interest of the banking sector artificial intelligence and smart phone programs because it facilitated the banking operations of banks, it is expected that within ten years the disappearance of cash operations in the termination of daily transactions. 

Belaitiq said that the integration of Islamic and conventional banks is continuing because it is an urgent necessity to keep abreast of developments in the banking sector. 

The seminar was opened with greetings by Abdulla Bilaitiq, Secretary General of the Board, and Dr. Mohammed Damak, International Director of Islamic Finance, Standard & Poor's International Credit Rating Agency.

He also thanked the Central Bank of Bahrain (CBB) and the supporting financial institutions, and expressed its appreciation to the Board of Directors for its renewed cooperation with Standard & Poor's and the second edition of the seminar in the Kingdom of Bahrain. Islamic and Sukuk in particular. 

The seminar was attended by participants from Bahrain, Sudan, Saudi Arabia, Kuwait, Iraq, Egypt, Turkey, Malaysia, Italy and Morocco for two days to engage in effective and in-depth discussions with S & P's executives in the presence of key speakers and financial industry experts.

During the first day, the S & P methodology was highlighted, followed by a special session entitled "Sovereign Outlook: Emerging Markets Trends and their Impact on Islamic Financial Institutions." Trevor Cullinan, Sovereign Ratings Manager at S & P International, Speakers: Dr. Jarmo Kotelin, Chief Economist, Economic Development Board, Mr. Ijalal Ahmed Alfi, Chief Executive Officer, International Islamic Financial Market, and Dr. Mohammad Damak, International Director of Islamic Finance at Standard & Poor's International For credit rating.

The second day of the event will begin with welcome words from Khalid Hamad Abdulrahman, Chief Executive Officer, Banking Supervision at the Central Bank of Bahrain, and will focus on banking sector rating factors, Sukuk credit rating and methodology.

The seminar is one of the outputs of the third strategic objective of vocational rehabilitation and empowerment, through which the General Council seeks to develop the professional capabilities and qualification of human resources in the Islamic financial services industry. The General Council is the voice of the Islamic finance industry, which aims to provide high level professional platforms supporting the growth and development of resources And brings together specialists in the industry to enrich dialogue and promote knowledge exchange on important issues in the industry. The seminar is also part of S & P's global multi-stakeholder initiatives to develop Islamic financial markets and credit ratings.







http://www.uabonline.org/en/news/arabicnews/15751604160515801604158715751604159315751605160416/63211/1
claud39
claud39
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