Manama (UNA-OIC) – The General Council for Islamic Banks and Financial Institutions (CIBAFI) launched on Monday a two-day technical workshop on “Financial Engineering and Product Development for Islamic Financial Institutions”, being conducted in French.
The workshop is aimed at qualifying the participants to gain the necessary knowledge and experience on the concept of financial engineering and product development for Islamic financial institutions, by opening the door for discussion on mechanisms for defining the framework of Sharia principles in developing financial products, and by presenting issues about product development processes with a focus on Islamic financial services.
On the first day of the workshop, the participants discussed several topics, including the basics of Islamic finance, the main contracts in Islamic finance, how to operate Islamic banks, and the Sharia compatibility in Islamic financial institutions.
