Bahrain is currently hosting the 20th World Islamic Banking Conference (WIBC), the world’s largest and most influential international gathering of Islamic finance industry leaders until tomorrow. This year marks the event’s 20th anniversary and more than 1,300 delegates from over 50 countries are expected to attend. Pre-conference seminars organised by the International Islamic Financial Market were held yesterday, while today will see the official opening of the WIBC conference proper at the Gulf Hotel . The WIBC 2013 will celebrate the fast growth of the Islamic finance industry globally and discuss the changes and adaptations that the industry needs to make if it is to fulfil its potential with an ever-growing base of investors and customers. WIBC 2013 is held with the support of the Central Bank of Bahrain and the Economic Development Board (EDB). Bahrain is widely recognised as a global leader in Islamic finance and is home to the largest concentration of Islamic financial institutions in the world as well as a host to a number of organisations dedicated to advancing Islamic finance policy and regulation, such as the Accounting and Auditing Organisation for Islamic Financial Institutions , IIFM, General Council for Islamic Banks and Financial Institutions , the Islamic International Rating Agency , Thomson Reuters Global Islamic Finance Hub and Deloitte’s Islamic Finance Knowledge Centre, making the Kingdom a knowledge hub for the industry. Transportation Minister and EDB Acting Chief Executive Kamal Ahmed said, “This year’s WIBC comes at a particularly crucial time for the industry as it is poised to take an even bigger role on the world stage. If the industry is to continue to build on its growth in recent decades, it will need to adapt and ensure it has the frameworks, trained staff and regulation needed to thrive. It is a great honour that Bahrain is once again convening the world’s leading decision makers in Islamic finance and facilitating such an important conversation.” Central Bank of Bahrain Governor Rasheed Al Maraj said, “To host such an event for twenty consecutive years is a testament to Bahrain’s position as the centre of the world’s Islamic banking industry. With the largest concentration of Islamic Financial institutions globally, Bahrain offers some of the most robust regulations in the finance sector today.” copyright