CIBAFI workshop on ‘Financial Engineering and Product Development’ concludes

CIBAFI workshop on 'Financial Engineering and Product Development' concludes

Manama (UNA-OIC) – The technical workshop organized by the General Council for Islamic Banks and Financial Institutions (CIBAFI) on “Financial Engineering and Product Development for Islamic Financial Institutions” concluded Tuesday.

The workshop, which was conducted in French, 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.

The participants discussed the development of financing products related to Murabahah according to the Sharia rules to be followed, in addition to studying and analyzing the outputs, verifying the validity of the product, and authorizing and developing the product of collecting deposits.

The workshop witnessed several interventions aimed at exchanging experiences and expertise among the participants.

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