PIB Participates in the 23rd AAOIFI Annual Sharia Board Conference
Palestine Islamic Bank (PIB) participated in the 23rd annual AAOIFI Sharia Board Conference, held in Bahrain on the 20th and 21st of April 2025, including a number of panel sessions with senior Sharia scholars, policy makers, decision makers and other experts and leaders of the Islamic finance industry worldwide.
The Bank was represented at the conference by the Chairman of the Sharia Supervisory Board, Dr. Alaa Razia, and Dr. Ayman Jweleis, member of the Sharia Supervisory Board, along with a number of representatives of Islamic banking and financial institutions from around the world, as the panels discussed many contemporary and priority jurisprudential and technical issues.
Commenting on the Bank's participation in this conference, PIB General Manager, Dr. Imad Al-Sadi, said that it stems from the Bank's active membership in all Islamic financial and banking institutions. PIB’s participation is of great importance as it is an opportunity to exchange experiences with Islamic financial institutions from around the world, which contributes to the development and innovation of new services and products that meet the constantly changing aspirations and needs of customers.
Al-Sadi added: “The conference tackles several important jurisprudential and technical issues. It is regarded as one of the most significant conferences in this field globally, and as the most influential within the Islamic finance sector, particularly in advancing Sharia governance across the industry worldwide.”
For his part, Dr. Alaa Razia emphasized the importance of the conference, noting that its sessions addressed a number of key issues, including the governing law of international Islamic financial transactions; the jurisprudential parameters and implications of combining contracts; compensation for breaching a binding promise to purchase, sell, lease, or transfer; and the structuring of contracts within complex arrangements, including related Sharia guidelines and implications, among other topics.
Razia added: “During the panel sessions, the participating scholars, researchers, academics, and specialists presented scholarly insights through which solutions can be found to many of the challenges facing the Islamic finance industry worldwide.”
PIB is driven by a mission to deliver modern, secure banking and investment solutions that adhere to Islamic Sharia principles. Backed by a robust cybersecurity framework, the bank is advancing a carefully crafted digital transformation strategy—culminating in the rollout of cutting-edge digital services that ensure the highest standards of customer data protection.