A nine member delegation comprising of leading Shari'a scholars from Morocco met the Governor of the Central Bank of Bahrain, Rasheed Al Maraj.
The visiting delegation wants to learn from the Bahrain experience in Islamic finance. Morocco has been gearing up to offer Islamic financial services in the wake of strong domestic demand.
Al Maraj welcomed the eminent scholars and assured them of CBB's full support in their Islamic finance journey.
"Bahrain is one of the pioneering countries in Islamic finance in the world and we have always been keen to share our experience with others. It is our pleasure to be of assistance to Bank Al-Maghrib, the central bank of the Kingdom of Morocco in its efforts to launch Islamic banking," he said.
During their three day visit the delegation met with the CBB officials, leading Shari'a scholars in Bahrain and global Islamic finance bodies such as AAOIFI, IIFM and CIBAFI. "The delegation was given presentations on the CBB regulatory and supervisory frameworks as relevant for Islamic finance. They were apprised of the measures being taken by the CBB to further strengthen the Shari'a governance of Islamic banks. Also, their meeting with our globally recognized Shari’a scholars provided them with an understanding of the practical issues in ensuring Shari'a compliance of Islamic financial institutions", stated Mr. Al Maraj.