Itqan Capital, a member of Al Baraka Banking Group (ABG), and one of the leaders in providing investment offerings and opportunities to high net worth individuals and family offices in Saudi Arabia, participated in the Al Baraka 34th symposium on Islamic economics. The two-day symposium, which was held in Jeddah with the support of ABG Chairman Saleh Abdullah Kamel and ended on Thursday, highlighted and discussed a number of emerging banking and financial themes.
A number of Itqan Capital’s top clients were among those present to listen to the discussions on various Islamic financing and other economic topics by global experts and scholars specialized in Islamic banking and financing.
Adil Dahlawi, CEO and MD, Itqan Capital, expressed his happiness over the success of the 34th session. “This years’ 34th symposium on Islamic economics, has connected jurisprudence with contemporary economic issues to find solutions to challenges faced by the Islamic banking industry, with one of the most prominent topics discussed being ‘Zakat on debt,’ especially with the widespread presence of financial institutions specialized in financing from private companies and banks. In addition, the increase in demand for private and public financing has notable effects that are apparent on the financial statements of various companies and institutions,” he added.
“Recently, the Islamic banking sector has been witnessing a remarkable growth, with an increase in Islamic financing by 27 percent in one year from $ 800 billion to $ 1.1 trillion. Additionally, the fact that countries of the Organization of Islamic Cooperation possess an impressive 98 percent share of the global Islamic finance assets requires the development of solutions that are commensurate with this increase and steady growth,” Dahlawi added.
*This article was published by Arab News. Read the original article here.