Al Baraka Annual Islamic Economics Forum   

   Al Baraka 31 Symposium on the Islamic Economics
   
 

Al Baraka 31 Symposium on the Islamic Economics

Introduction
Symposium topics
The organizing committee
Participation Form (PDF)
Hotel Accommodation reservation Form - Jeddah Hilton 
Hotels special rate - RAMADA and Sheraton
The Programme of Albaraka 31st Symposium for the Islamic Economics

Media Coverage - Part 1
Media Coverage - Part 2
Media Coverage - Part 3
Media Coverage - Part 4
Media Coverage - Part 5
Media Coverage - Part 6


 

Introduction

Al-Baraka Islamic economics symposium is a Shariah, banking and economics forum which represents a corner stone of developing the Islamic Economics banking from both technical and Figh perspectives.

The symposium is regularly held where renowned and famous Shariah scholars, bankers and experts discuss some modern banking transactions and issue some Shariah opinions (Fatwas) and recommendations for the enhancement of Islamic banking and solving its problems.

29 symposiums had been held up-to-date since its first inception in Medinah 1981 in different cities, including Al-Madinah Al-Munawarah, Makkah Al-Mukarramah, Jeddah in addition to Damascus, Cairo, Kuala Lumpur, Beirut, Istanbul, Tunis, Algeria and Jordan.

The Symposium objectives:

The objectives of Albaraka symposium for Islamic economy are as follow:

1. Knowledge of Figh opinion with regard to recent and modern economic and financial transactions
2. Presentation of problems faced by Islamic banks while applying different modes of Islamic finance and exchange views with scholars to solve them.
3. Linking Figh to our modern economic issues and supporting the Islamic Economic theory to enable it confront other theories.
4. Enrichment of banking Figh and the Islamic Economic library with profound discussions and new Fatwas issued by renowned Muslim scholars.
5. Fulfillment of the need of those concerned with Islamic banking Figh all over the world.
6. Fulfillment of the requirements of ABG units and the Islamic Financial institutions in the field of Islamic banking theory and its applications.
7. Linking the financial transactions of Figh with the principles of economics
8. Provision of scientific reference for research, Shariah committees, and Shariah Fatwas within the framework of Islamic banking.
9. Development of Islamic financial instruments which conform to technical & Shariah standards.

The resolutions and recommendations issued by Al Baraka Symposium for Islamic Economics represented a reference, and database which feed researches and Fatwas of Shariah boards of banks, financial institutions, Figh academies, and different organizations and agencies around the globe.

In addition, recommendations and resolutions of Al Baraka symposium were a foundation base for the establishment of many Islamic enterprises. The second Al Baraka symposium which was held in Tunisia 1984 issued Fatwa No2/5 which permit selling of shares of companies while retaining the right of administration in the hands of those owning the business name and legal register, and the purchaser retains the right of cash and capital profits provided that he shall not intervene in the management of the company.

Another Fatwa was issued permitting the sale of shares or units or shares in projects of actual assets, not restricted to debts or cash or any of them.

Based on these two fatwas and other Figh provisions, scholars started to innovate Islamic financial instruments to solve deep problems facing Islamic banking industry, such as:

1. The problem of liquidity
2. Investment opportunities
3. Liquidation of investments

After thorough studies and researches, some funds and securities companies were established in the Arab and Islamic world.
     
The 30th symposium was held this year 5-6 Ramadan. The said event synchronized with the celebrations of ABG new unified identity which was launched in a big gathering in Bahrain June 2009.

The 30th symposium was held on the heels of the financial crisis, so its topics were as follow:
1. The financial derivatives and their role in the financial crisis
2. Practical applications of lease described on liability (Ijarah Musufah fi Zimah).
3. Credit and debt guarantee

The acceptance of secular laws as a reference for agreements and contracts to which Islamic Financial Institutions are party.

A number of scholars and Experts in Islamic Banking from different Arab and Muslim countries are usually invited to take part in the symposium in the Saudi Arabia and abroad. The number of invitees to the symposium research to about 700 persons from different countries.

Translation shall be provided from Arabic to English and vice versa to facilitate participation. New books published by ABG will be distributed to participants.

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Symposium topics

Al Braka Banking Group (ABG) will hold Al Baraka 31th Symposium for the Islamic Economy in Jeddah in the period 8-9 Ramadan 1431H, corresponding 18-19 August 2010:

1. Contemporary issues in Zakat
2. Undertakings of investment operations managers
3. Role of regulatory authorities in Shariah controls of Sukuk and other financial instruments.
4. Trust risks of Mudaharabah applications and their solutions

A number of shariah scholars and banking experts will address the symposium.

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The organizing committee

 
Name Title
Dr. Abdul-Sattar AbuGhuddah General Supervisor
Dr. Ahmad Mohieddin Ahmad Executive Manager
Mr. Ayman Ahmad Abdallah Vice President - Strategy department / Member
Dr. El-Tigani El-Tayeb Mohammad Member of Scientific Committee / Member
Mr. Ahmed AbdulGhaffar Vice President - Investors Relations / Member
Mr. Hasan Abdulatif Hassani Asst. Vice President ق€“ Corporate Communications / Member
Mr. Abdallah Ali Agabna Head of Scientific Committee / Member
Mr. Bassam Abu-Mughli Public Relations Manager / Member
Mr. Faisal Abdul Aziz Abdallah Member
Mr. Abdul Aziz Ibrahim Ali Member
Mr. Khaled Mohammad Al-Baloushi Reception and Transport
Mr. Hatim Mohammad Yamani Head of Media Committee
Mr. Omar Mohammad El-Ameen Member Scientific Committee, Coordinator Meeting Room

 

Contacts and addresses of the Organizing Committee:

Al Baraka 31th Symposium on the Islamic Economics
Tel: 0096626710000    Ext. 2086, 3063, 3978, 3980
Fax: 009626734045
E.mail: [email protected]

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The Programme of Albaraka 31st Symposium for the Islamic Economics

Wednesday and Thursday Ramadan 8th - 9th,1431.H (According to Umalqura Calendar)
corresponding to 18-19, August, 2010. Jeddah Hilton, Jeddah, KSA.

The 1st day: Wednesday, 18, August, 2010
Inaugural session: 10:00 p.m ق€“ 11:00 p.m (After Traweeh prayer):
 The Holy Quran
 Opening Address by Dr. Abdul Sattar Abu Ghuddah. Secretary General and president of the Unified Shariah Panel of ABG.
 A speech by  H.E.Adnan Ahmad. Yousif, C.E.O. Of  Al Baraka Banking Group.
 Welcome Remarks by H.E.  Sheikh Saleh A. Kamel,  the chairman of Al Baraka Banking Group,

The first session:
Contemporary Issues on Zakat. 11.00 p.m ق€“ 01:00 a.m
11:00 - 11:20 A research to be delivered by Dr. Essam Abu Alnasr
11:20 - 11:40 A research to be delivered by Dr. Yousif Alshubaily
11:40 - 11:50 Comments by Dr. Yousif Alqaradawi
11:50 - 12:00 Comments by Dr. Hussain Hamid Hassan
12:00 - 12:40 General Discussions
12:40 - 01.00 Coffee Break

The 2nd session:   01:00 a.m - 02:30 a.m

The Role of Supervisory Bodies concerning Shariah control on Sukuk & other financial instruments:

01:00 - 01:20  A research paper by Dr. Sabir Mohammad Alhassan, Bank of Sudan, Governor.
01:20 - 01:40  A research paper by Mr..Khalid Hamad, Bahrain Central Bank, Executive Director /Banking Supervision
01:40 - 01:50  Comments by .Dr. Ahmad Aljashi
01:50 - 02:30  General Discussions
02:30     Sohoor

The second day: Thursday 19, August, 2010
Third session:   10:00 p.m -12:00
                      
Investment Managers Undertakings:
10:00 - 10:20  A research paper by Dr. Abdul Sattar Abughuddah
10:20 - 10:40  A research paper by Dr. Mosua Adam Eissa
10:40 - 0:50  Comments by .Dr. Sami Suailim
10:50 - 1:00 Comments by Dr. Ashraf  Dwabah
11:00 - 11:40   General Discussions

11:40 - 12:00   Coffee Break
 
The fourth session:  12:30 ق€“ 02:00 a.m. 
The Trust Risks on Mudarabah applications & their solutions

12:00 - 12:20  Research paper by Dr. Mohammad Ali Algari
12:20 - 12:40  Research by Dr. Al Ayashi Fadadd
12:40 - 12:50  Comments by Sheikh Abdullah bin Manea
12: 50 - 01:00 Comments by Sheikh Mohammad M. Alsalami
01:00 - 02:00  General Discussions
02:00    Sohoor

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