Khaleeji Commercial Bank to sponsor Waqf Fund for research and training in Islamic Finance

KHCB will be joining fourteen existing members in contributing to the liquidity of the Fund.

The proceeds of the Waqf Fund are utilized in the context of Islamic Finance to publish research studies and surveys; to make available and finance the development of specialist training workshops, and other educational opportunities on Islamic Finance and Shari'a issues.

To date, total contributions to the Fund are at approximately $6.2m.

In this regards, Mr. Ebrahim H. Ebrahim, CEO and Board Member of Khaleeji Commercial Bank said, "Khaleeji Commercial Bank is always interested in supporting such important initiatives and projects which support Islamic banking and push ahead the role of Islamic banks locally, regionally, and globally."

He also added, "of course, this falls within our social responsibility towards supporting the Kingdom and thus KHCB has decided to support the Waqf Fund for research due to its important objectives that are not limited to Islamic finance. The Fund will make available, through effective training initiatives for Islamic banks' staff, qualified human resources in the market in the years to come, which will massively contribute to the development of the Islamic banking sector in the Kingdom."

As well as contributing to the Waqf Fund in support of Islamic financial research and education on the island, Khaleeji Commercial Bank has sponsored and supported many social, cultural, sports and other events as part of its social responsibility.

The Bank has honoured the Busaiteen Club volleyball team for winning the Crown Prince, Head of the General Organisation for Youth & Sports Cup.

It also sponsored the Ebrahim Al Arrayed Centennial Exhibition held at the UNESCO Headquarters in Paris.

Moreover, the Bank was a key sponsor of the World Islamic Funds & Capital Markets Conference held last May.

The Bank takes very seriously its corporate social responsibility to contribute to the well being of the community through philanthropic endeavors.