As a result, Bahrain currently hosts 4 major Islamic supporting institutions, namely: •  The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI),  •  The international Islamic Financial Market (IIFM),  •  The Islamic International Rating Agency (IIRA),  •  The Council for Islamic Banks and Financial Institutions (CIBAFI),  The CBB is also cognizant of the need for skilled professionals for the long term development of the Islamic banking industry.
In this context, it may be useful to outline some of the preliminary observations from the financial crisis that seem to be particularly relevant. Firstly, access to capital may be limited when the need is greatest. Secondly, house prices may fluctuate strongly and have to some extent been driven by innovation in the mortgage market.