Dr. al-Shaibei: We are committed to exercise all efforts to expand Islamic banking on a global scale

  Dr. Recep Şentürk: QIIB's support of Harvard Conference spurred the Spreading of Islamic financial culture

Within the framework of QIIB's role in spreading the principles of Islamic banking and economics, QIIB provided a sponsorship for the Islamic Finance Conference, that was recently held at Harvard University under the theme “Waqf and Philanthropic Foundations: Shared Values for Socio-Economic Development”.

The conference was held in academic partnership with the College of Islamic Studies at Hamad Bin Khalifa University.

Expressing appreciation and gratitude for this support and sponsorship, Prof. Dr. Recep Şentürk, Dean of the College of Islamic Studies at Hamad Bin Khalifa University, handed a commemorative shield to Dr. Abdulbasit Ahmed al-Shaibei, CEO of QIIB, in the presence of Dr. Syed Nazim Ali, Director of the Center for Islamic Economics and Finance at Hamad Bin Khalifa University and Mr. Omar Abdulaziz al-Meer, Head of Business Development and Alternative Channels Sector at QIIB.

The conference, which is held annually and gathers mainly Muslim alumni of Harvard University and experts from all over the world, focuses on the discussion of subjects related to ethical trading and the social aspect of Islamic finance by the students, academics and professionals.

The conference also discusses several subjects related to entrepreneurship, the role of the Islamic world in establishing start-ups, the potential advantages for Muslim businessmen in global markets, the role of multilateral institutions in promoting Islamic finance, and many other subjects.

Commenting on the bank’s sponsorship of the conference, QIIB Chief Executive Officer, Dr. Abdulbasit Ahmed al-Shaibei said, “QIIB is a pioneering bank with a recognised position locally and internationally. We have long been committed to exercising efforts to expand Islamic banking on a regional and global level. We believe that it is our duty to work on strengthening the principles of Islamic banking and reinforcing the experience of Islamic banks everywhere, wherever our capabilities allow that”.

He noted, “The Islamic Finance Conference at Harvard University is an exceptional annual opportunity to introduce Islamic finance, as the panel sessions engage specialists, stakeholders and followers concerned with the various aspects of Islamic banking and economics, which establish practical steps on the ground that help expand Islamic economics and finance culture from various aspects”.

QIIB CEO pointed out, “The cooperation with Hamad Bin Khalifa University is long-standing through which we are engaged in many initiatives with the university regarding Islamic banking. Our practical experience in this regard is to enrich the solid academic experience of the University; hence our mutual cooperation in Harvard Islamic Finance Conference constitutes a bright step for having an academic and practical framework at the same time, in addition to being held at a country with a leading economy worldwide, which is the US economy.”

Dr al-Shaibei affirmed, “QIIB will continue its role in supporting initiatives aimed at promoting Islamic banking in the world, based on the model and experience of QIIB, which extends for more than thirty years, and through which QIIB managed to establish its presence in the local market, gained a broad base of customers, and promoted the bank to become one of the highest credit rated banks in the market. As a result of our efforts, we have a reputation that extends from the local market to the regional and international markets, and work according to periodic and strategic plans to achieve further growth and success.”

On the margin of handing over the honorary shield, Dr. Recep Şentürk, Dean of the College of Islamic Studies at Hamad Bin Khalifa University, said, “We thank QIIB for its support of this conference, which facilitates our mission to highlight the importance of philanthropic work and waqf in Islamic civilisation and Muslims’ vision and experience in serving people. The conference brought together a large number of academics and representatives of philanthropic foundations in the United States, in addition to many entrepreneurs in the field of philanthropic work. Many attendees of the conference provided new ideas of philanthropic work. For example, a foundation offered the idea of providing financial support to the students without imposing interest, and another foundation presented the idea of providing psychological support from zakat funds and other initiatives”.

He noted, “We noticed that the attendees, Muslims and non-Muslims, have welcomed the subject of the conference. At the College of Islamic Studies, we are pleased to share aspects related to Islamic sciences with a well-established American university, and clarify ideas about how Muslims look at different challenges, especially the issue of endowments and philanthropic works, which constitute one of the basic initiatives to support the needy in many areas”.

Dr. Recep Şentürk pointed out, “The Harvard Islamic Finance Conference has been ongoing for more than 25 years. This is a great achievement that deserves praise. We are pleased to take part in this conference that is held annually, with the support of QIIB. In fact, this conference contributes to shedding light on the Islamic economy in its various fields, in a way that enhances an international trend based on an Islamic vision and benefits the Islamic nation and the entire world, God willing.”

For his part, Dr. Syed Nazim Ali, Director of the Center for Islamic Economics and Finance at Hamad Bin Khalifa University, stated, “First, we would like to thank His Excellency Sheikh Dr. Khalid bin Thani bin Abdullah al-Thani, Chairman of the Board of Directors of QIIB for supporting the conference. It is noteworthy that QIIB had previously supported the conference in 2014, and at that edition, we were pleased that His Excellency delivered a keynote speech at the conference. We also thank Dr al-Shaibei for his support, and he in turn attended the aforementioned conference and witnessed the event on the ground and his presence enriched the conference.”

He noted, "It is our pleasure to have QIIB's support and sponsorship of the official Islamic Finance Conference at Harvard University, which has initiated since 1997. We recently celebrated the 25th Silver Jubilee Year of the 2022 edition for which QIIB provided the sponsorship."

He indicated: "The conference has contributed to turning the subject of Islamic finance into an academic subject and has created an international and effective platform for spreading the culture of this model of financing all over the world, including the United States. Moreover, the conference engaged students and faculty members, which constitutes an effective platform for spreading knowledge and culture of Islamic finance.”

With regard to the subject of the conference titled: “Waqf and Philanthropic Foundations: Shared Values for Socio-Economic Development”, Dr. Ali noted, “This subject is discussed at the right conference and at the right time. We invited different religious groups to attend and contribute to the discussion. All the attendees showed great respect to the dissertations presented during the conference, which also witnessed the invitation of successful companies to tell their success stories and how their services were reflected in the local communities in which they serve”.