Al Baraka to host symposium on Islamic economics in Jeddah

Al Baraka Banking Group will hold its 34th symposium on Islamic economics at Jeddah Hilton on July 17-18 to discuss a number of emerging banking and financial issues and transactions.
Saleh Kamel, chairman of ABG’s board of directors, and Adnan Ahmed Yousif, president and CEO, will address the opening session.
The symposium will be attended by well-known scholars in the field of Islamic banking, in addition to a number of senior executives in Islamic banks and institutions.
Participants include Ahmad Khaled Babacar, secretary general of the Islamic Fiqh Council, Abdul Basit Shaibi, CEO of Qatar International Islamic Bank, and Abdul Razak Khuraiji, executive vice president and head of the Islamic Banking Development Group at NCB.
This year's symposium will discuss issues related to Zakat, including measuring of Zakat for crops and fruits, and trading in global gold market.
“It will address important issues in participatory transactions, such as the trade-off between debit and participation contracts, and legitimate means to reduce risk,” Yousif pointed out.
The first Al Baraka symposium was held in Madinah during June 27-30 in 1981, Yousif said, adding that it was instrumental in finding economic solutions to the problems faced by Muslim communities.
He commended the role played by Saleh Kamel, chairman of the group, for the success of the previous symposiums. He also thanked scholars, researchers, executives and employees in Islamic banking for their contributions.
Al Baraka is a Bahrain Joint Stock Company licensed as an Islamic Wholesale Bank by Central Bank of Bahrain, listed on Bahrain bourse and Nasdaq Dubai stock exchanges. It is a leading international Islamic bank providing its unique services to around one billion people and with Standard and Poor’s investment grade long term counterparty credit rating of BBB- / A-3 (Short Term).
Al Baraka offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of Shariah. The authorized capital of Al Baraka is $ 1.5 billion, while total equity amounts to about $ 2 billion.