Qatar Islamic Bank and Solidarity holds its first seminar on Islamic Financial Planning

The seminar was attended by those who wanted to understand the basics of financial planning, mainly Takaful, and to learn more about the latest developments of saving, investment, and protection plans which are fully compliant with the guiding principles of Islamic Sharia'h.

The seminars are aimed at educating the Qatari public, locals and expatriates, about the importance of financial planning, and what support it presents to the future of our economy.

Mr. Abdul Qader Ismail, Bankassurance Manager at Solidarity - Family Takaful, spoke about the importance of financial planning from an Islamic perspective, and highlighted the differences between the concept of Takaful, Islamic insurance, and that of the conventional insurance. more over, he highlighted the significance of Takaful saying:

"Takaful is the philosophy of pooling economic resources to help those who are less fortunate. It is based on the principles of compensation and sharing responsibilities towards a society such that a good life is provided, and dignity is reserved for all individuals, families, and society in general."

The seminar discussed various saving, investment, and protection aspects of Family Takaful plans which fully comply with the fundamentals of the Islamic Sharia'h. Mr. Ismail also added: "There is a primary stage where contributions are divided into two accounts: an account which is allocated to investors in which their money is invested based on their request, and another in which Takaful contributions are combined such that the contributors benefit themselves. This cycle runs in accordance to the "Wakalah" Sharia'h principle, which is aimed at protecting investors from unexpected risks, and sudden losses."

The seminar was attended by QIB and Solidarity's management team; among them is Ahmed AL Adwani/Executive Manager Investment, Sidieg Elzin/Media Officer, Fareed Al Wardi/ Family TAkaful Manager Funds & Management Division in Qatar and May Marzooq, Marketing Communications Officer, Solidarity - Family Takaful, Bahrain.

Commenting on the Seminar, May Marzooq, Marketing Communication Officer - Solidarity Family Takaful Bahrain stated "In accordance to our slogan, Because Life is all about Sharing Responsibilities, and in accordance to all of the developments which the Kingdom is facing in many sectors, Solidarity - Bahrain in conjugation with QIB - Qatar pull the efforts to educate the public about the concept of Islamic Financial Planning by focusing on Takaful: saving, investment and protection through series of seminars to highlight their importance to our economy and the major role they play in building a solid foundations to a better society, ."

The seminar demonstrated the importance of Islamic Financial Planning by discussing the various saving and investment plans which offer protection benefits for its subscribers that Qatar Islamic Bank is offering offers."