Abu Ghoddah: Islamic Banking Witnesses Great Development

Damascus, (ST)-Vice-Chairman of the Advisory Commission of the Central Bank of Syria and Consultant Legitimate Bodies in Islamic Banks Dr. Abdul Sattar Abu Ghoddah confirmed that the last three decades have witnessed the development of the Islamic banking sector and interest in houses and Islamic investment funds.

In his lecture, “Islamic Banking between Theory and Practice and Hopes “Dr. Abu Ghoddah talked about the products offered by Islamic banks and some of the inclusions of Islamic economy and its applications.

He also talked about the importance of Islamic banks, which “exceeded conventional banks” and that did not fall despite the global financial crisis.

For his part, Dean of the Higher Institute, who is Deputy Minister of Religious Endowments Dr. Tayseer Abu Khshrif pointed out in his intervention to the importance of the study of Islamic banks and the economy in Syria and dealing Islamic formulas in Islamic banks, indicating that the ethical standards of Islamic banks are important aspects and applied in all Islamic banks, adding that Islamic banks operating in Syria can make a significant contribution to the reconstruction.

For his part, General Supervisor of the Islamic Fateh Complex Dr. Hussam Eddin Farfourpointed out the importance of Islamic banking products offered by Islamic banking institutions in Syria, stressing that the success of the products of these banks gives strong evidence of their importance.

Head of the Shariah Board in Sham Islamic BankDr. Ahmed Hassan indicated to the role and interest that Islamic banking Establishments gained particularly from private educational bodies in Syria, including the Higher Institute of Business Administration.

For his part, President of Islamic Economics Department at the Islamic Fateh Complex Dr. Amer Kharbotli talked about the importance of the development of Islamic banking and its immediate and future role in Syria.

The lecture was attended by Director of Damascus Endowments and a number of economics professors and specialists from banking institutions in Syria and students of the Institute.

Sh. Kh