NEWS
The University of Bahrain Concludes the International Conference on Sustainable Islamic Business and Finance
Sakhir – University of Bahrain (Khadija Abdualm)
October 13, 2022
The Dean of the College of Business Administration at the University of Bahrain, Prof. Hatem bin Mahmoud Al-Masri, stated, “One of the most significant challenges facing Islamic financial technology companies is the lack of good research in the Shariah-compliant fintech sector. The growth of Islamic fintech in some countries, such as the Kingdom of Bahrain was driven by government initiatives, updated legislation of the central bank, start-ups, and customers.
Dr. Al-Masri made this statement at the conclusion of the activities of the Second International Conference on Sustainable Islamic Business and Finance, organized by the University of Bahrain over two days. The conference witnessed in-depth discussions on the topic of “the financial industry and improving financial services for Islamic banks through the use of technology.”
The conference, which was held virtually on Tuesday and Wednesday (October 11-12, 2022) was characterized with the participation of two keynote speakers, namely Sheikh Dr. Nizam Muhammad Al-Yaqoubi and Sheikh Essam Ishaq both are members of the Shariah Board of AAOIFI and members of Shariah supervisory boards in several international financial institutions. The conference discussed more than 51 research papers, from 16 countries around the world, including the Kingdom of Bahrain.
The participants stressed in their papers the main role played by banks, financial institutions, and central banks in promoting modern concepts in Islamic banking, through which the foundation stone for Islamic fintech can be laid in Islamic countries and others, especially with the great development the world is witnessing through the use of smart media, and the employment of artificial intelligence in the financial and business industry.
The Dean of Graduate Studies and Scientific Research, Dr. Athraa Sayed Abbas Al-Mousawi, confirmed that the conference resulted in positive outcomes, due to the strenuous efforts exerted by the participants and their scientific contributions in more than fifty research papers. She noted that the Deanship is keen to organize various activities and conferences that promote scientific research, support researchers and academians, and develop their scientific and research capabilities and skills, to contribute to providing government cadres and building an economy based on knowledge and skills.
