Bait Al Mashura Finance Consultations has signed an agreement with the World Bank to reinforce cooperation in a host of areas, including research and knowledge sharing in Islamic finance.
According to Al Mashura, this cooperation agreement is the first of its kind in favour of a consultancy firm in Qatar and the region.
Bait Al Mashura is a consulting firm providing Shariah compliant consultation to Islamic as well as conventional financial institutions. It also provides audit, supervision, training and development services to promote Islamic Banking in Qatar and overseas.
In addition to cementing cooperation between the two institutions in the field of Islamic finance, the agreement will reinforce cooperation for exchanging scholarly visits and conducting lectures in Qatar and elsewhere.
Under the agreement, the parties have also agreed to extend invitations to the Executive Management of the company to deliver lectures and present papers at workshops organised by the World Bank.
Signing of the agreement coincided with the visit of Washington-based Abayomi A. Alawode, Practice Manager and Head of Islamic Finance, World Bank’s Financial Systems Global Practice. During his visit to Bait Al Mashura, Abayomi introduced the initiatives of the World Bank and its efforts towards the development of Islamic finance. He also shed light over the areas of interest for the World Bank related to the further development of Islamic finance.
Dr. Khalid Al Sulaity, Vice Chairman, Bait Al Mashsura Board of Directors, said that the cooperation agreement comes as a result of the company’s eagerness to strengthen the cooperation with various national, regional and international organisations to take advantages of the different experiences and contribute to the further development of Islamic finance industry in Qatar as well as at the regional and global levels.
@The Peninsula