Qatar First Bank, the first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority (QFCRA), has announced the Gold sponsorship of the Global Islamic Economic Summit to be held at Madinat Jumeirah, Dubai, UAE on 25-26 November 2013.
Attracting more than 1600 delegates, the conference is held under the patronage and the attendance of Sheikh Mohamed Bin Rashed Al Maktoum UAE Vice President, Prime Minister and Ruler of Dubai and organised by Thomson Reuters and the Dubai Chamber of Commerce & Industry. The two-day event is poised to be the region’s largest event aimed at promoting the Islamic economy and examining the constraints facing its development and growth.
Ahmed Meshari, Acting CEO, QFB commented, “We are proud sponsors of the Global Islamic Economic Summit. The Islamic finance industry continues to grow substantially with many major financial cities competing to become the hub of Islamic finance. As a leading Shari’ah compliant financial institution, we are looking forward to joining other global Islamic financial experts, policy makers and stakeholders of the US$8 trillion Islamic economy in addressing the challenges facing this vibrant financial system.”
Islamic Finance witnessed considerable growth since the financial crisis of 2008 with Islamic finance assets reaching US$ 1.32 trillion at the end of 2012. In spite of this growth, which is 50% more than the conventional banking, there is a great potential for further development specifically in terms of products and regulatory framework.
Qatar First Bank is the only bank from Qatar joining regional banks like Abu Dhabi Islamic Bank, Dubai Islamic Bank and Emirates NBD in sponsoring the event. The summit will bring together experts from all facets of the Islamic Economy and will address themes as the role of the Islamic economy in the evolving global economic landscape, future strategies for its adoption and the takaful industry.