Palestine Islamic Bank participates in the twenty-fourth annual AAOIFI Sharia Boards Conference in Bahrain

Ramallah - Ofoq News - The Palestine Islamic Bank participated in the twenty-fourth annual AAOIFI Conference for Sharia Boards, which was hosted by the Kingdom of Bahrain on October 11 and 12, 2026, with the participation of an elite group of Islamic Sharia scholars, experts, academics, decision-makers, and representatives of Islamic banking and financial institutions from around the world.

The bank was represented at the conference by the Chairman of the Sharia Supervisory Board, Dr. Alaa Razia and member of the Sharia Supervisory Board, Dr. Jamal Abu Salem, where the conference witnessed a series of dialogue sessions that discussed a number of contemporary jurisprudential and technical issues of priority to the Islamic finance sector, in addition to emerging challenges and future prospects for developing the Islamic financial industry and enhancing its legitimate governance.

The Director General of the Palestine Islamic Bank, Dr. Imad Al-Saadi said that the bank’s participation in this conference comes in line with the bank’s vision and the permanent directives from the Board of Directors on the importance of active participation in institutions concerned with developing Islamic banking and financial work and benefiting from specialized international platforms to exchange experiences and knowledge with Islamic financial institutions around the world.

Al-Saadi added: “This participation represents an important opportunity to learn about the latest developments and trends in the Islamic financial industry and to discuss issues that contribute to developing banking and enhancing its efficiency in a way that supports the bank’s efforts to innovate new financial services and products that are compatible with the provisions of Islamic Sharia and meet the needs of customers and keep pace with their renewed aspirations, especially in light of the presence of high-level representation from dozens of Islamic financial and regulatory institutions around the world.”

For his part, the head of the Sharia Supervisory Board at the Palestine Islamic Bank, Dr. Alaa Raziyeh, stressed the importance of the conference and its role in discussing emerging issues facing Islamic financial institutions, explaining that its sessions covered various topics, the most prominent of which is harmonizing Sharia standards with legal systems, the challenges and prospects associated with that, estimating the actual direct cost of lending, the controls governing joint financing of Islamic and conventional tranches, the impact of new conditions on financial contracts and obligations, in addition to the issue of compensation for obligations, and other related issues.

Razia added: “During the discussion sessions, the participating scholars, researchers, academics and specialists presented a scientific vision through which solutions can be found to many of the challenges facing the Islamic financial industry worldwide.”

The AAOIFI Conference is considered one of the oldest and most influential forums in the global Islamic financial industry. For more than two decades, it has been a major platform for bringing Shariah opinions closer together and enhancing Shariah and compliance governance at the industry level.

The mission and vision of the Palestine Islamic Bank are centered on excellence in providing modern and secure banking and investment solutions in accordance with the provisions of Islamic Sharia. The bank also develops a well-thought-out strategy to proceed with the process of digital transformation, supported by a cybersecurity strategy that ensures the protection of all customer data, which has resulted in the launch of pioneering digital services.