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Satyendra Pathak
Doha
More than 800 financial experts from across the world are set to take part in the 4th Doha Islamic Finance Conference on January 9 in Doha, to be held under the patronage of the Prime Minister and Minister of Interior HE Sheikh Abdullah bin Nasser bin Khalifa al Thani.
Organised by Bait Al-Mashura Finance Consultations in cooperation with Qatar Financial Centre (QFC), Barwa Bank, Qatar University and Hamad Bin Khalifa University, the conference will discuss opportunities and challenges facing the Islamic finance market.
Addressing a press conference to announce the details of the conference, Bait Al Mashura Finance Consultations Managing Director and CEO Oais al Duraie said the conference would be opened by Minister of Finance HE Ali Sharif al Emadi.
He said the conference would discuss the digital world and how the Islamic financial industry can enter digital world and the challenges facing it.
Entitled 'Contemporary Financial Trends and Knowledge Capacity Building,' the conference will also discuss the endowment and its development and how it can contribute to the national economy as well as the generation of Islamic financial industry and its impact on the Islamic financial industry and the ethics of societies.
The conference will also discuss litigation and prosecutions in Islamic financial transactions in the hope that the conference wouyld upgrade Islamic financial industries, he added.
The conference will also witness the launch of the economic report of QFC.
Addressing the press conference, QFC CEO and Board Member Yousuf Mohamed al Jaida said the conference would play a key role in establishing Doha as the hub of Islamic finance in the world.
He said supporting Islamic banking sector is an integral part of the local financial sector and its banks.
Jaida said the readiness of the Qatari market to receive more companies and institutions specialised in the field of Islamic banking confirms its position as a promising competitive financial market.
Qatar has a strong economic foundation that supports and enhances investment trends in the Islamic finance industry, he said, adding that Qatar was one of the first countries in the region to adopt Islamic banking and create regulatory environment for the same.
He said the conference would also see QFC launching its first economic report on Islamic Banking in Qatar in partnership with Thomson Reuters.
Barwa Bank Group Chief Executive for Communications Talal al Khaja said the conference would come up with projects, recommendations and initiatives that contribute to the development of the Islamic economy, identify the most important contemporary challenges, and develop effective solutions.
Head of Centre of Islamic Economics and Finance at the College of Islamic Studies at Hamad Bin Khalifa University, Syed Nazim, said the college's participation in this important event reflects its vision of the importance of the Islamic finance sector in the contemporary global financial system as well as its relevance to the policy formulation and management of economic systems.
Dean of the College of Business and Economics at Qatar University Khalid al Abdul Qader said the outcome of the conferences would be integrated into the college curricula and programmes so that the knowledge aspect is linked to the practical aspects of Islamic finance.
He pointed out that the Islamic financial sector faces major challenges, including the geopolitical, technical, legal and analytical situation, pointing to the importance of this conference.
