As an initiative to further strengthen relationships between leading Islamic banks in the Kingdom, a number of CEO's and high-level decision makers, recently held a meeting to discuss the cooperation between Islamic banks in Bahrain with an aim to strengthen the overall Islamic banking industry, especially in light of the current global financial crisis. The importance of this meeting comes in view of the serious financial crisis facing regional and global markets, which imposes an obligation on everyone to work together to maintain the current high ranking that Islamic banking has gained in recent years. Islamic banks have been perceived as a safer haven for investments, especially in the wake of the financial crisis that has devastated the conventional financial system. This initiative is considered the beginning of a long-term cooperation which will significantly contribute towards enhancing mutual support between Islamic banks in the Kingdom. The participation of the industry leaders with their shared thoughts and views, will contribute highly towards strengthening the Islamic banking industry in Bahrain and the region. The Participants in the meeting welcomed this initiative, and affirmed there willingness to fully cooperate in various areas of banking and finance, that would enable Islamic banks to face the challenges imposed by the current circumstances as a unity, capable of dealing with the various economic and social conditions. It was agreed among the participants to hold more such meetings in the near future.