The Institute of Chartered Accountants of India (ICAI) signed a joint declaration with the Bahrain Institute of Banking and Finance to work towards capacity building, among other activities. The two institutes propose to use each other's expertise in designing distance education programmes, creating study material for students, and in examination systems, as well as in disciplinary and regulatory mechanisms.
The initiative is meant to enable both to work towards capacity building of professionals of all nationalities in Bahrain.
They would identify specific areas of mutual assistance.
The declaration was signed by Gary Muriwai, Director, BIBF and Uttam Prakash Agarwal, President, ICAI, on the last day of an international conference, ‘Winds of Challenges — Global Strategies for Accounting Profession’, organised by the Indian regulator at Agra. In his address, Agarwal said, “What a remarkable occasion it has been. Last two days, we have been witness to promoting newer vistas of bilateral co-operation with Australia and Canada. Today, it is the turn to foray into the MENA region. Bahrain is the most mature, well-established business hub with the largest financial institutions in the Gulf.”
More than 2100 delegates included some from over 20 countries took part in the event.