Alinma Bank has signed on as an official sponsor of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) 25th Anniversary International Conference, which is being held in Madinah on Wednesday and Thursday, May 4-5, 2016. The event is being made possible thanks to the kind patronage of HRH Prince Faisal Ibn Salman Ibn Abdulaziz, Governor of Madinah, as well as that of the Capital market Authority.
Speaking about the event, Alinma Bank CEO, Mr. Abdulmohsen Al-Fares, said that Alinma was always eager to support the growth and development of Shariah-compliant banking and finance. He noted that its current rate of expansion and positive global footprint was encouraging and that he expected it to show even greater potential in the future. Al-Fares further emphasized the clarity, transparency and soundness of the Shariah-compliant approach, along with its inherent respect for all parties involved in transactions and financial dealings. These aspects of its methodology, said Al-Fares, make it attractive on a global scale and have been key to its growing popularity worldwide.
With regard to Alinma’s sponsorship of the conference, Al-Fares praised AAOIFI’s efforts as the first professional, independent organization at the international level to champion and forward the cause of Shariah-compliant banking and finance. He lauded the organization’s activities and contributions to the standardization of accounting and procedural practices as well as its ongoing information and awareness campaigns and conferences.
Al-Fares closed his remarks by praising the theme of the conference – “40 Years Since Inception Evaluation of Experience and the Way Forward” – noting that sincere and tireless effort would be needed to carry Shariah-compliant banking and finance forward to the progress and prosperity that are well within reach.
It is worth mentioning that from its inception, Alinma Bank has been a fully Shariah-compliant institution, whose products, services, operations and practices are overseen by a dedicated Shariah board and an internal Shariah group that, together, ensure the integrity of the bank.