The 2nd Conference on Islamic Banking starts its works in Damascus under the auspices of Qatar Islamic Bank

Qatar Islamic Bank was represented by a delegation comprising Mr. Mohamed Abdullatif Al Mana, Deputy Chairman and Mr. Salah Al Jaidah, the bank's CEO.

In his inaugural speech, Mr. Al Mana said the conference comes at crucial stage of the history of Islamic banks which enter the new era with confident steps after a history of success over four decades during which they overcome high stress and successfully created an effective presence in the international banking scene. They even became the focus of interest for international money centers and banks in Europe and Asia to the extent that they created Islamic units and offered Islamic-devised financing tools, mainly the Sukuk.

He said that Islamic banks are basically concerned with developing and utilizing wealth in investments that realize the goals of Islamic Sharia from the concept of wealth in Islam. Accordingly, our banks were always concerned with ensuring the Islamic alternative to conventional banking products in order to satisfy the needs of over one billion muslims.

Mr. Al Mana stated further that Islamic banks are facing significant challenges that impose on them to seriously tackle several issues if they vow to maintain their growth and achieve their goals: mainly: devise products and optimally utilize cut edge banking technology.

In a paper on the reasons behind the creation of Islamic Financial Market and its role in achieving growth, Mr. Salah Al Jaidah QIB's CEO stated that Islamic banking has become a regional and international undeniable fact. Its creation has motivated by several reasons, mainly the cover they provide for organizing and negotiating financial tools conforming to Sharia norms. He stated in this effect that it stands for a cash market for dealing in Sukuk in many forms: Istissna, Ijara, Investment portfolios, sharing and distribution of capital among the various vital economic sectors by offering a range of funds and Sukuk for financing all sorts of activities in industry, agriculture, real-estate and infra-structure.