"The necessary for the Islamic world to meet its financial needs has been increasing incessantly as a result of the irregularities and illegalities that have pervaded contemporary transactions, such as usury and uncertainty. Consequently one of the research priorities in financial transactions is the study of how to apply the formulas of financial transactions in the Islamic jurisprudence heritage to modern financial transactions and operations. The insurance industry has received a great deal of this research effort, entailing the allocation of appropriate educational and training materials for the qualification of professionals and cadres of the Islamic insurance industry.
Integration between banks and insurance companies is one of the basic practical requirements indispensable for the Takaful industry and reflects the mutual interest of both sectors. The trainee must obtain the necessary qualification to understand the operations of Islamic banks and their activities and how to integrate these operations with the activities of the Takaful insurance companies. "
General Council for Islamic Banks and Financial Institutions (CIBAFI - BAHRAIN) The General Council for Islamic Banks And Financial Institution (CIBAFI) is one of the 4 "I's" International Islamic Infrastructure Institutions. It is a non-profit organization and it was established and hosted in the Kingdom of Bahrain pursuant to an Amiri Decree No. 23 issued on May 16, 2001.
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