The theme of the 13th conference was Islamic wholesale banking opportunities.
Overall it was found that 2006 has been an "exciting year" for Islamic banking with strong worldwide growth, ahead of mainstream banks - although profit gaps compared to the conventional banks are shorter and profit margins are set to be squeezed further by increased competition.
Wholesale banking was found to be a major contributor to banking revenues, although the market was criticised for being dominated by basic products.
In total over 800 delegates from 30 countries are together in Bahrain for the conference.
Governor of the central bank of Bahrain, HE Rasheed M Al Maraj, used the conference to call for improved risk management in the industry and enhanced corporate governance standards.