Qatar has potential to become major Islamic finance platform, says QIIB CEO

Qatar can become a major global platform for Islamic finance in view of its resources, expertise in Shariah-compliant products and services, and world class regulatory framework, said International Islamic (QIIB) chief executive officer, Abdulbasit A al-Shaibei.

Qatar, he said, is significantly active in the major global Islamic centres such as Malaysia. Also, Islamic finance has growing demand in Qatar and the region.

“We have the resources, expertise, empowered regulators and adequate manpower (human resources) in our country. We can easily build a much stronger platform for Islamic finance in Qatar that can cater to, not just the region, but the whole world,” al-Shaibei said in an interview with Gulf Times.

He stressed that Qatar was one of the first countries in the world to identify the significance of Islamic banking. Qatar is now home to major and reputable Islamic banks such as QIB, QIIB and Masraf Al Rayan.

“We have had the first Islamic bank in our country in the 80s through QIB. Qatar International Islamic Bank was established in the 90s. Masraf Al Rayan was established a few years ago.

Read more: http://www.gulf-times.com/qatar/178/details/343320/qatar-has-potential-to-become-major-islamic-finance-platform,-says-qiib-ceo