.:: Al Huda ::.

HOME

ABOUT US

SERVICES

Green revolution can be possible through Islamic Agricultural Finance: Zubair Mughal
Al-Huda Center for Islamic Banking & Economics organized an international workshop on Islamic Agricultural Finance in Avari Hotel, Lahore. In the workshop participants introduced Islamic Financial products for agricultural sector. The key purpose for such products is to pay attention on agriculture sector by the Islamic Banks and other Islamic financial institutions.

Group Picture of 2 Days Specialized Training Workshop on Islamic Agricultural Finance organized by AlHuda CIBE.

US studying features of Islamic banking

RIYADH: The US government is currently studying the salient features of Islamic banking to ascertain how far it could be useful in fighting the ongoing world economic crisis, Robert M. Kimmitt, US deputy secretary of the Treasury, said at a press conference held at the US Embassy here yesterday.

Kimmitt, who is on an official visit to the Kingdom, also held discussions with Finance Minister Ibrahim Al-Assaf. Today, he is scheduled to meet Saudi Arabian Monetary Agency (SAMA) Gov. Hamad Al-Sayari, Saudi Arabian General Investment Authority (SAGIA) Gov. Amr Al-Dabbagh, Prince Alwaleed bin Talal, chairman of the Kingdom Holding Company, and Saudi investors and bankers.

Robert M. Kimmitt, US deputy secretary of the Treasury, right, and US Ambassador Ford M. Fraker at the press conference held at the US Embassy in Riyadh on Saturday.

He said that the agenda for the G-20 summit to be held in Washington on Nov. 15, has to be carefully prepared since important topics are to be discussed in just one day. “I am not sure that Islamic banking will also be itemized in the agenda, but it is a subject that is often dwelt in the public and private sectors,” he noted. He said that experts in the US Treasury Department are currently learning the important features of Islamic banking.

However, he added that his country is focusing on activities of various governments and central banks in tackling the economic issues. He pointed out that the member countries in the G-20 also includes Islamic countries such as Indonesia and Turkey, besides the Kingdom which has been a member for the past 10 years. Representatives from these countries could present their experiences of Islamic banking in the light of the prevailing situation.

Pointing out that a good number of American investors are coming to the Kingdom, Kimmitt said the US government expects reciprocation in the same manner. The deputy secretary is slated to visit the United Arab Emirates, Qatar, Kuwait and Iraq where he would meet the leadership and investors for development of Islamic Banking.

Copy Rights Reserved 2006-2007alhudacibe.com