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Islamic Banking Confab Wraps Up

Islamic Banking Confab Wraps Up Islamic Banking Confab Wraps Up

The 29th edition of the Islamic Banking Conference came to a close with the release of an official statement on Sunday. Several high-ranking officials, including the Central Bank of Iran Governor Abdolnasser Hemmti and bank CEOs, were among the participants and speakers of the event. The concluding statement emphasized the role of corporate governance in the management of banks and conservation of foreign exchange reserves as the unjust US sanctions are being reimposed on Iran, IBENA reported. A twin bill to overhaul the banking system and the central bank has laid dormant in the parliament, with MPs and the government disagreeing over certain articles. The bill aims, among other things, to create an Islamic jurisprudence council that oversees bank interest rates and ensures they do not contravene Islamic law.   

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