Kuwait Finance House - Bahrain (KFH-Bahrain) announced its support as gold sponsor of the 9th Annual Shari'a Conference, which is taking place on 26 and 27 May 2010 at the Crown Plaza Hotel, Manama, Kingdom of Bahrain. The Conference is held under the auspices of the 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. Commenting on the occasion, Mr. Abdulhakeem Alkhayyat, Managing Director and CEO of KFH-Bahrain, said, "KFH-Bahrain is dedicated to providing support for such important conferences that enrich the field of Islamic banking. The Conference will provide an interactive forum to meet and discuss various significant issues among participants and specialists from Islamic banks and financial institutions." "The AAOIFI has succeeded in gathering major financial institutions, who are primed to set new standards and ethical codes for Islamic Financial Institutions. The discussions scheduled at the conference will 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. Amongst the topics that will be addressed are applications of Shari'a on calculation and allocation of profit allocation in Mudaraba (investment management) and Musharaka (partnership) transactions, distribution of Takaful surplus and the relationship between policyholders' fund and management, potential application of 'sale and buyback and cooling-off clause in deferred sale' in addressing liquidity shortfall, Shari'a-compliant mechanisms in dealing with delinquent debts and compensation for delay in debt repayment, and SPV and fiduciary roles in issuance of Islamic financial instruments.