Skip to main content

Conference on Islamic banking in Oman

Islamic Banking: the next big leap of Oman
Islamic Banking is going to spur the next big investment drive and a major employment generator in Oman in the upcoming years. So Oman Islamic Banking and Finance Conference to be held at the Grand Hyatt on 5 and 6 June, 2012 are awaited with much anticipation. 

As the key speaker of the conference, Mr. Mohammad Harris' presence will be noted with extreme curiosity. He is one of the pioneers of Islamic Banking in Pakistan and Kenya and having played a key role in establishing the first Islamic banks in the two countries. He is the ideal choice for speaker at Oman Islamic Banking and Finance Conference to be delivering his insights on the Successful implementation of Islamic Banking in Africa. This is happening as part of the initiative by OITE (Oman International Trade and Exhibition) under the theme "Building a Growth for Islamic Banking & Finance" in Oman through improved regulation, innovation, standardization and best practices.

Mr. Harris has worked as Deputy General Manager and Head of Corporate & SME Banking, Structured Finance and Product Development at Gulf African Bank (GAB), the first Sharia'h compliant bank in Kenya and is expected to join very soon one of the major banks here in Oman. His responsibilities included developing and implementing business strategies to help establish the bank as a leader in Islamic banking and in providing innovative and structured products to meet customer requirements. 

Islamic Banking commenced in Kenya in 2008, when the government allowed Kenya Commercial Bank to operate its Amana Islamic suite, the country's first full-fledged Islamic bank. 

According to a report by KFH Research, the continent has seen the surge of Islamic Banking attributed to increasing awareness in Sub-Sahara Africa on the back of the growing trade interactions with the Middle Eastern countries. The demand for Shariah-compliant products and services by Muslims in keeping with religious beliefs, demand for risk averse banking approaches in light of the global financial crisis and measures taken by the government to review and reform banking laws allowing the setting up of Islamic banking institutions. 

Vast potential lies in North African countries in addition to Kenya, Nigeria, Senegal and South Africa. The report also states that there are currently 38 Islamic finance institutions operating in the country and most African countries are witnessing amendments to their legislations, thus allowing Islamic institutions to operate. These banks will greatly benefit retail services, small and medium scale projects and real estate development projects.

Other stories on Islamic Banking:

Omani college for Islamic finance training
Five edu gems from UAE to get into a plum job
5 Most desirable Management programmes in UAE
Islamic Banking : The next big thing in Oman


Comments

Post a Comment

Popular posts from this blog

Second Pakistani University opens in UAE

Abasyn University RAS AL KHAIMAH, (UAE): One more Pakistani University has started its operations in Ras Al Khaimah with a mission to provide good quality affordable education for Pakistani families living in UAE. Name as “Abasyn University ”, the new educational platform will offer degree courses to the 800 to 1,000 pupils who comes out of Pakistani high schools in the UAE every year. Previously Szabist University in Dubai was the only Pakistani university in the emirates. Abasyn’s Ras Al Khaimah centre is its overseas branch campus. As a famed brand in Pakistan, the Abasyn University has campuses in Peshawar and Islamabad. Abasyn University is considered to be more affordable as it charges only Dh1,200 a month. This makes it more affordable than Szabist which charges Dh1,900, and Abasyn is significantly cheaper than other institutions. On average, university fees in the UAE start at about Dh25,000 a year. However, for anything science or engineering based, costs can rise ...
4 comments
Read more

Osmania University degrees "blacklisted" by recruiters in Gulf

Osmani University HYDERABAD: If you are a graduate from Osmania University(OU) , India, you may receive a blunt rejection from the HR manager of Gulf countries. Shocking news is out that Osmania University distance education and regular degrees have been blacklisted in several middle-east countries including Iran and UAE.  But Higher Education authorities of these countries have not made any official announcements in this regard. Scores of OU students, including foreigners have been refused jobs in the United Arab Emirates and Iran. "OU is blacklisted because these students do not have the basic standards required to perform well in a job," a manager in a Dubai-based recruitment agency said. The Osmania University (OU) is a public state university located in Hyderabad, India, and founded in 1918 with the help of chief Architect of Mahbub Ali Khan - Nawab Sarwar Jung. It was established and named after the last Nizam of Hyderabad, Mir Osman Ali Khan. It is the fi...
2 comments
Read more

Why You Should Not Opt For IIT Bombay

This article is written by IITians in the blog Actors Imran and Anushka during a cultural program at IIT Bombay If asked to compare IIT Bombay to IIT Delhi, most students say that the difference is negligible. Both are in metropolitan cities with good options for hostels, PG accommodations, food and entertainment. Cultural activities are equally good as is the faculty and study methodology. Even placements at the two IITS are amongst the best in the country. Yet figures indicate that the top JEE rank holders prefer Computer Science Engineering at IIT Mumbai rather than IIT Delhi. But, we are here to tell you when and why you can avoid IIT Mumbai. Mumbai IIT was earlier placed in the suburbs, away from the crowds, giving IITians the space and peace to pursue their career goals. Today the area in Powai is surrounded by high rise building, malls and traffic snarls, bringing with it all the clatter and patter of a metropolitan hub. Just like the population and popular...
2 comments
Read more