The BCSR organized the launch of a new book entitled, 'Islamic Banks:  Theory, Practice and Prospects', written by scholars of Sharia and Economics on Sunday 24th August, 2008 on the BCSR premises, Awali.

Dr Mohammed J. K. AlGhatam, Chairman of BCSR Board of Trustees, stated that the book contributes to illuminating the world of Islamic financing and banking of which Bahrain has become a major international hub. The book aims to clarify the activities and methodologies of Islamic Banking and to remove any misunderstandings that might exist.

The book is divided into 2 parts, Arabic and English and includes information on topics such as The Foundation of Islamic banks, Strategic perspectives, Instruments of Islamic banking, Corporate Responsibility, Islamic bonds Resources and Financing, The Role in Development, Islamic Banking Products, the Future for Islamic Banks in Bahrain. In addition, the book contains a list of the major Islamic banks and financial institutions in Arab and Islamic countries.

During the launch of this new publication at BCSR, Dr Mohammed J. K. Alghatam stated that the book sheds light on the status of Islamic banking in Bahrain and the World. BCSR celebrated the launching of the ‘Islamic Banks; Theory, Practice and Prospects’ on Sunday 24th August 2008, with the attendance of several experts, bankers and researchers.

Dr Alghatam declared that, with the launching of this book,  BCSR seeks to explain the basic concepts underlying Islamic banking in order to remove potential misunderstanding related to this sector. In his introduction to the book, Dr Alghatam indicated the large number of Islamic banks and corporations already in Bahrain and their increasing importance not only to the Bahraini economy but to the international economy..

Dr Ghatam acknowledged that there are some differences in vision and activity of some Islamic banks such as those concerned with bonds, shares, monitoring bodies, follow-up and the establishment of special 'Islamic' units in traditional banks in order to attract customers. This indicates that it is important to conduct scientific research and analysis in order to an in-depth and thorough understanding of this sector.