Qatar has strong economic foundation to build on Islamic finance industry

Manama

Qatar has strong economic foundation that helps support and enhances the investment trends in the Islamic finance industry, according to a top official of the Qatar Financial Center Authority (QFCA). This was disclosed by the QFCA chief executive Yousuf Mohamed al-Jaida, while announcing the details of the fourth Doha Islamic Finance Forum, which will get underway next week. Qatar is one of the first countries in the region to adopt Islamic banking and create the regulatory environment for Islamic focused inward foreign direct investment through various regulatory bodies, including the QFC Regulatory Authority, he said. The conference, organised by Bait Al Mashura Finance Consultations in association with the QFC, College of Business and Economics at Qatar University, College of Islamic Studies at Hamad bin Khalifa University and Barwa Bank, will see the QFC launch its first economic report on Islamic banking in Qatar in partnership with Thomson Reuters. The conference on January 9 at Sheraton is expected to be attended by a number of local and international financial officials and bankers, elite of scholars, academicians, and experts from the financial sector in the Arab countries and worldwide. The event aims to enhance Islamic finance tools for benefiting from the digital world, devise the scientific and practical solutions for contemporary challenges.—Reuters

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