Kuwait Finance House - Bahrain (KFH-Bahrain) announced its platinum sponsorship of the 10th Annual Shari'a Conference, which took place between 30th and 31st of May 2011 at the Gulf Convention Centre, Manama, Kingdom of Bahrain. The Conference was held under the auspices of Central Bank of Bahrain and organized by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the international organisation that formulates standards on accounting, auditing, ethics, governance, and Shari'a for the international Islamic finance industry. Mr. Abdulhakeem Alkhayyat, Managing Director and CEO of KFH-Bahrain, commented, "KFH-Bahrain recognizes the importance of such conferences that aim to enrich the field of Islamic banking through the discussion of topics related to the business. This year's conference provided an essential forum to meet and discuss various key issues among participants and specialists from Islamic banks and financial institutions." "The AAOIFI continues to lead the way by gathering the major financial institutions together and set new standards and ethical codes for Islamic Financial Institutions. The valuable discussions held during the sessions will help steer the Islamic finance industry towards growth and this influence will be felt worldwide as the concept of ethical banking continues to develop and expand, especially in the wake of the recent global financial crisis", he added. Mr. Alkhayyat concluded his statement by stressing on the importance of hosting such an international major gathering in the Kingdom of Bahrain during these times. Amongst the topics discussed at the conference were, practicalities of Shari'a auditing and review, issues relating to investment management on the basis of agency (Wakeel) contract, realities of leasing (Ijarah) contracts, issues on true and "artificial" Sukuk, treatment on delinquent financings and alternatives to debt structuring and the impact of multiple terms and conditions in financial contracts.