Banking, Finance & Takaful

Qatar Faculty of Islamic Studies and Derasat Sign Agreement Supporting Students in Islamic Banking

MOning_2014_03_19Qatar Faculty of Islamic Studies (QFIS) at the Hamad bin Khalifa University has signed a Memorandum of Understanding with the Derasat Company for Research and Consulting in Islamic Banking. The agreement was signed to establish a scientific cooperation to support research work and provide training to QFIS students in the field of Islamic banking.

Prof Dr Hatem El-Karanshawy, Founding Dean of QFIS, and His Excellency Mr Abdul Basit Ahmed Al Shaibei, CEO of Qatar International Islamic Bank signed the agreement during a ceremony held at Qatar Foundation in the presence of His Excellency Mr Soud al-Tamimi, Vice President for Operations at the Hamad bin Khalifa University, and a number of faculty members and interested parties.

During his speech, Prof Dr Hatem El-Karanshawy said, “The agreement is importantbecause it provides the appropriate environment for the adoption of ideas and research. At the same time, it supports our students, encourages collaborative work and achieves the required interaction between practitioners in the banking business and scholars at academic centres. This interaction ensures success for both parties. Our goal is always to produce beneficial knowledge. We hope to contribute to this goal by studying the existing products in the market, appraising their Shariah foundations and hopefully introducing new products. I thank all those who contributed to the success of this agreement. I think it is a good sign, especially as it is the first agreement we have signed under the umbrella of Hamad bin Khalifa University. And God willing, it will be a blessed step.”

His Excellency Mr Abdul Basit Ahmed Al Shaibei, Member of the Board of Trustees and Managers of the Derasat Company for Research and Consulting in Islamic Banking, and CEO of Qatar International Islamic Bank , expressed his profound gratefulness to Prof Dr Hatem El-Karanshawy and stressed that the agreement reflects the desire of the private sector to play a role in dissemination of awareness and knowledge pertaining to Islamic economics and bankingMr Al Shaibei stressed that this agreement will contribute to conveying the concepts and theories of Islamic economics and Islamic banking, and will work to link the educational inputs in the Islamic studies discipline in a way that ensures contribution to the development and progress of Islamic economics.

Dr Sultan Al Hashemi, Professor at Qatar University and a member of Derasat Company, said in his speech: “Through this agreement, we will draft an Encyclopaedia of Jurisprudence in Islamic Banking, which will be the first of its kind We will also collaborate in mentoring students pursuing QFIS’s Master’s degree in Islamic Finance, by providing them with training opportunities and guiding their research to benefit the banking sector. In addition to this, we will collaborate on research projects and in the future, hold a joint seminar focusing on the field of Islamic banking.

Dr Tariqullah Khan, Professor at QFIS, said: “We have a good relationship with Islamic banks and this agreement will strengthen this relationship, especially in the area of training our students through the financial institutions that the company represents. We expect that Derasat will be an excellent addition as a scientific and consulting institution in Qatar.”

Source: Zawya

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