Kuwait Finance House-Bahrain (KFH-Bahrain) announced it's support as gold sponsor of the AAOIFI - World Bank Annual Conference on Islamic Banking and Finance 2010, held at the Bahrain Conference Centre, Crowne Plaza Hotel, Kingdom of Bahrain, between 1st and 2nd of December 2010. The conference is organized by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) in partnership with the World Bank, and under the auspices of Central Bank of Bahrain. Mr. Abdulhakeem Alkhayyat, Managing Director and CEO of KFH-Bahrain commented "With an impressive track record of over 40 years and the first in the region to establish a finance industry, Bahrain continues to adopt a pioneering role in Islamic finance, helping to drive forward the concepts, rules and standards of Shari'a compliance. The Kingdom has the largest concentration of Islamic banking entities in the world and conferences such as this will help to maintain its leading role and position". "KFH-Bahrain is committed to supporting such important conferences that enrich the field of Islamic banking through the discussion of topics related to the industry. The Conference will provide a central forum to debate various key issues among participants and specialists from Islamic banks and financial institutions", he added. The AAOIFI - World Bank Conference is specifically designed to give the international Islamic finance industry the collaborative platform to consider the emerging requirements and needs of Islamic financial institutions around the world and address issues that have arisen as the Islamic banking sector has steadily grown. Topics that will be addressed during the conference will include; governance for Shari'a Supervisory Board (SSB), inconsistencies of fatwas issued by SSBs, dealing with default in Islamic finance, challenges in capital markets, the incompatibility of conventional international accounting standards with Islamic financial transactions, and application of wa'ad (promise) and bayh al-orbun (earnest money deposit) contracts in Islamic financial transactions.