A number of senior officials of Al Baraka Bank Bahrain and Al Baraka Bank Pakistan participated in the seminar organized by the members of the Institute of Chartered Accountants of Pakistan (ICAP) recently at the Crown Plaza Hotel, Bahrain on the recent changes in international financial reporting standards (IFRS). The seminar was conducted by Mr. Muhammed Maqbool, FCA who is a council member of the ICAP and Chairman of the Accounting Standards Committee of the ICAP.
The participation of the staff of Al Baraka's banks in this seminar embodied their keenness to keep up with the latest developments in international financial reporting standards, a set of international accounting standards which are approved and used in more than 120 countries around the world, including most countries in the Middle East. It is expected that the ongoing changes in the international financial reporting standards will contribute in the current significant changes in financial reporting.
On this occasion, Mr. Mohamed Issa Al Mataweh, member of the Board of Directors and Chief Executive Officer of Al Baraka Islamic Bank said, "We are very pleased with the participation of our employees in this seminar, which enabled them to see the latest topics and emerging issues associated with the international financial reporting standards, based on our understanding of the importance of such seminars, and the our keenness to keep abreast of developments associated with these standards, which are now located in the heart of Islamic banking model that are indispensable in adhering to the highest international accounting standards . "