Qatar First Investment Bank trains staff on Shari'ah compliant banking practices

In line with its commitment to train and develop its staff, Qatar First Investment Bank (QFIB) has conducted a one -day workshop at its headquarters on Shari'ah compliant banking.

The workshop, held on Sunday, 20 June, was delivered by Dr. Ali Al Quradaghi, the chairman of QFIB's Shari'ah Supervisory Board and a respected researcher and professor in the Faculty of Shari'ah at Qatar University.

Dr. Al Quradaghi said, "Shari'ah compliant finance has proven its resilience to the global financial crisis as it prohibits dealing in activities such debt trading and market speculation that have contributed to this credit crunch.

"On the global scene, Shari'ah compliant finance is increasingly becoming popular, as many look at it as a safe haven and an alternative financial solution. I greatly applaud QFIB's initiative and efforts in ensuring that its staff is kept regularly updated on the fundamentals, practices and business ethics of Shari'ah compliant banking. This means QFIB will remain at the forefront of Shari'ah complaint investment banking."

The 40 staff members of the bank's team looked at the underlying differences between Shari'ah compliant and conventional banking, discussed the essential financial tools used in Shari'ah compliant banking and how investments can be considered Sharia'h compliant.

Mike de Graffenried, Chief Executive Officer of QFIB, said: "Training and developing our employees is at the heart of our HR strategy. QFIB aims to become one of the leading financial institutions in Shari'ah compliant investment banking in Qatar and the GCC. This workshop is in line with our commitment to train and develop our staff and keep them updated with the latest developments in Shari'ah compliant banking."

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