Kuwait Finance House - Bahrain (KFH-Bahrain) announced its Gold Sponsorship of the 13th Annual Shari'a Conference, which took place between 14th and 15th of April 2014 at the Gulf Hotel Convention Centre, Manama. The Conference was 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 organization that formulates standards on accounting, auditing, ethics, governance and Shari'a for the international Islamic finance industry. Mr. Abdulhakeem Alkhayyat, the 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 industry. 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 best practices 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", Mr. Alkhayyat added. Among the topics that were discussed at the Conference included: the Shari’a point of view on transferring ownership to beneficial and legal in the structure of Sukuk issuance, complicity and its regulations in Islamic finance transactions, alternatives to overdraft, retained profits and model contract law in banking transactions. To accompany discussions held at the Conference a highlight was a panel discussion on the role of the Sharia Board in banks.