(AhlulBayt News Agency) - Doha will host the First Islamic Finance Conference (FIFC) under the title “Islamic Financing and the New Economic Reality” on October 20 and 21.
Being held under the patronage of the Prime Minister and Foreign Minister, Sheikh Hamad bin Jasim bin Jabor al-Thani, the conference will be organized by Bait Al Mashura Financial Consulting Company and will be attended by businessmen and investors in the banking sector in the Arab World and around the globe.
The managing director and the CEO of Bait Al Mashura Osama Qais al-Dereai, said “The conference aims at discussing the opportunities available for the Islamic financing and the challenges facing it; discussing the possibility of presenting Islamic financing as an effective alternative to the traditional financing method; studying the extent to which it is applied on the modern uses and rules; promoting co-operation between the Islamic financial institutions for the purpose of finding a system for a competitive market under the challenges of governance and showing the moral and social responsibilities of the Islamic funding system”.
He said the conference is divided into four parts: the first is titled “Islamic Economy and the Islamic Countries’ Economies”, the second “Islamic Financing and the World Economic Developments”, the third “Islamic Financial Institutions and the Challenges of Governance” and the last “Islamic Financing and the Moral and Social Responsibilities”.
Bait Al Mashura Financial Consulting Company, a private shareholding company – is the first Qatari company authorized by the supervisory authorities.
It specializes in providing Shariah consultation, auditing, control, development and training in the Islamic banking field.
It provides services to Islamic banks as well as Islamic and traditional financial and investment companies, Islamic insurance companies and Islamic brokerage companies at all levels and in all fields.
The idea of establishing a company specialized in Islamic financial industry is in the context of the current development in the Qatari market as well as the Islamic banking system around the world, especially in the Gulf region, Europe and South East Asia.
Perhaps the latest development in the Lebanese, Syrian, Singaporean and Japanese banking industry, which is represented in promulgating the Islamic Transactions Law and establishing the windows and banks, signifies a remarkable change in the Islamic applications in general, in which the people’s wish to deal with the Islamic product contributed clearly.
Perhaps this accelerating development in the Islamic financial industry created a kind of gap at the Islamic financial institutions in the Islamic financial industry which was the result of the rate of growing development this industry is witnessing in terms of laws, applications and supporting institutions.
The idea of establishing a company specialized in Islamic financial industry, such as Bait Al Mashura Financial Consulting Company, satisfies the need and wishes of the financial institutions, and fills the gap in the industry.
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