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Doha hosts the 5th International Islamic Finance Conference March 19 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Doha hosts the 5th International Islamic Finance Conference March 19

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Doha hosts the 5th International Islamic Finance Conference March 19 Empty Doha hosts the 5th International Islamic Finance Conference March 19

Post by claud39 on Tue Mar 12, 2019 1:47 pm


Doha hosts the 5th International Islamic Finance Conference March 19


Doha hosts the 5th International Islamic Finance Conference March 19 Rc_155237591431_23

Doha, March 19, will host the 5th International Islamic Finance Conference, entitled 'Islamic Finance and the Digital World', with international participation from government agencies, international organizations, financial and academic institutions in the fields of economics, finance and digital technology. 
The conference will discuss a number of issues that contribute to the development of the Islamic banking industry in Qatar and the world. Participants will also discuss the effects of digital development on Islamic finance and mechanisms to prevent potential risks. The conference will discuss the vision of the possibility of building an integrated digital Islamic bank, 150 million customers of Islamic financial institutions around the world in two years.
Speaking at the press conference today, Dr Osama Qais Al Durai, Vice Chairman of the Organizing Committee, Managing Director and Chief Executive Officer of Beit Al Mashra (organizer of the conference), said that today, under the Fourth Industrial Revolution, the world faces a series of challenges posed by the renewed digital reality, The digital economy in the field of finance and business to change the equations and centers of power in the markets and to impact on all sectors of the economy, including the Islamic finance sector. 
He added that the need has increased to create a balance between the requirements of digital developments and humanitarian needs .. He pointed out that the Islamic economy highlights its role as a living economy participatory and valuable based on the principles of Islamic legislation, which absorbs all the developments of life according to its origins and legitimate purposes that take into account the interests of humanity in the urgent and future .
Ernst & Young's global estimates indicate that the adoption by Islamic banks around the world of the applications of financial technology will increase its customer base at an accelerated pace and attract 150 million new customers within two years from now (by 2021) A growing trend in Islamic financial institutions to adopt technology and digital systems. A group of technology companies are simplifying Islamic finance contracts using Block Qin technology, while others are targeting the development of comprehensive payment systems. 
In response to questions from journalists during the press conference, Dr Al-Durai said that about 1,200 participants are expected to attend the conference, pointing out that the number of those who have confirmed their participation so far is 800 participants. He pointed out that the conference will include representatives of official bodies from 22 countries.
Mr. Yousif Mohammed Al Jaidah, Chief Executive Officer of the Qatar Financial Center (QFC) said: "The 5th International Islamic Finance Conference, which will be hosted by Doha, is one of the leading international events in the field of Islamic finance in the world. Islamic finance and the digital world, "pointing out that this subject can change the face of the world.
He stressed that Islamic finance is one of the main areas of focus of the QFC, and one of the most important areas within the recently announced strategy of the Center, noting that the Fourth Industrial Revolution has touched every aspect of business and banking, driven by technical innovation and increasing trend Towards digitalization, Islamic finance is no exception. The digital world has changed the financial services industry and led to the emergence of a wholly new sub-sector, the 'financial technology' sector.
Al Jaidah pointed out that the daily changes have a clear impact on the Islamic finance sector, especially in light of our appreciation of the importance of this industry and the potential for growth that it carries. According to estimates, Islamic finance assets are expected to be worth about $ 3.2 trillion by 2020, so it is clear that an industry of this size must be accompanied by a strong flow of digital technology, with all this accompanying advantages. 
In the past five years, the growth of Islamic banking assets in Qatar has outpaced conventional banking. Islamic banking assets reached US $ 97 billion at the end of 2017, accounting for 81% of total Islamic finance assets, On the strength and credibility of the Islamic banking sector in Qatar.
HE Sheikh Khalid bin Mohammed bin Ghanem Al Thani, Director of the Awqaf Endowments Department in the Ministry of Awqaf and Islamic Affairs, expressed his keenness on the financial care of this conference. He stressed that the support of the Ministry of Awqaf and Islamic Affairs represented by the General Department of Awqaf (2030) on the one hand, and to keep abreast of the developments in the economic and financial concepts of Islam and the need to find a legitimate vision of the issues being raised. Here is the digital world and its programs on the other.
He pointed to the Ministry's keenness to make recommendations on Islamic finance and the digital world because of the urgent need at the present time for practical proposals to avoid the digital divide between the Islamic world and the world especially in the field of economy and finance and the conditions for achieving development. Islamic finance and its determinants. 
Dr. Khalid Al Abdul Kader, Dean of the Faculty of Management and Economics at the University of Qatar, stressed the importance of partnership between scientific and professional institutions, stressing the college's keenness to have an active role in this specialized international conference which combines its scientific, professional and applied aspects. Management and economy to participate in activities that achieve community development and provide students and graduates with opportunities to learn more about the practical and professional aspects and developments related to Islamic finance.
Dr. Sultan Al Hashimi, Assistant Dean for Research and Graduate Studies at the Faculty of Sharia and Islamic Studies, University of Qatar, said that the conference comes in the context of the Faculty of Sharia and Islamic Studies at Qatar University to build partnerships with the relevant bodies. He pointed out that the College will sponsor the conference academically. To identify the activities of the College and to conclude agreements that benefit all parties and contribute to the achievement of the Qatar National Vision (2030). 
Dr. Khalid Bin Ibrahim Al Sulaiti, Chairman of the Organizing Committee and Deputy Chairman of Beit Al Mashra, said that Qatar's hosting of this international conference reflects the country's great position as one of the most prominent centers of Islamic finance in the world. In Qatar is achieving record growth.
He pointed out that the conference in its fifth edition will focus on discussing the effects of digital development on Islamic finance through its main interlocutor. It will review the experiences of the central banks in light of the major changes in the world of finance and business due to the huge and significant development of information technology, Which called on financial and banking institutions to quickly study their future opportunities and the possibility of transition to the digital world. 
The conference sessions will include discussions on the digital economy and sustainable development, the review of electronic systems in Islamic banks and their challenges in the digital world and the mechanisms of applying the requirements of Islamic standards in the current electronic systems, and also addressing cyber security and its challenges and some forms in the financial and banking sector, To the digital world in the capital market by studying the instrument model through Qin Block technique.
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