Officials at the signing ceremony.
DOHA: Qatar Faculty of Islamic Studies (QFIS) at Hamad Bin Khalifa University has signed a memorandum of understanding with the Derasat Company for research and consulting in Islamic banking.
It aims at scientific cooperation to support research and provide training to QFIS students in the field of Islamic banking.
Prof Dr Hatem El Karanshawy, Founding Dean of QFIS, and Abdul Basit Ahmed Al Shaibei, member of trustees for research studies and consulting in Islamic banking and CEO of International Islamic, signed the MoU during a ceremony at Qatar Foundation, in the presence of Soud Al Tamimi, Vice-President for Operations at the university, and faculty members.
Al Karanshawy said, “The agreement is important because it provides the appropriate environment for the adoption of ideas and research. It also supports our students, encourages collaborative work and achieves the required interaction between practitioners in the banking business and scholars at academic centres.
“This interaction ensures success for both parties. Our goal is always to produce beneficial knowledge. We hope to contribute to this goal by studying existing products in the market, appraising their Shariah foundations and hopefully introducing new products. I thank all those who contributed to this agreement. I think it is a good sign, as it is the first agreement we have signed under the umbrella of the university.
Al Shaibei said the agreement will contribute to conveying concepts and theories of Islamic economics and Islamic banking, and work to link educational inputs in the Islamic studies discipline in a way that ensures contribution to the development and progress of Islamic economics.
Dr Sultan Al Hashemi, Professor at Qatar University and member of Derasat, said, “Through this agreement, we will draft an encyclopaedia of jurisprudence in Islamic banking, which will be the first of its kind. We will also collaborate in mentoring students pursuing Master’s in Islamic Finance, by providing them with training opportunities and guiding their research to benefit the banking sector. We will collaborate on research projects and hold a joint seminar on Islamic banking.
Dr Tariqullah Khan, Professor at QFIS, said: “We have a good relationship with Islamic banks and this agreement will strengthen it, especially in the area of training our students through financial institutions the company represents. We expect that Derasat will be an excellent addition as a scientific and consulting institution in Qatar.”