{Kantakji Group}. Add '11956' Al Baraka 34th Symposium to discuss the Calculation of Zakat of Equity and Debt Financing

Al Baraka’s 34th Symposium to discuss the Calculation of Zakat of Equity and Debt Financing, during the forthcoming Ramadan

AGENDA ENCLOSED

The Al Baraka 34th Symposium on Islamic Economics that is organized by the leading player in Islamic banking, Al Baraka Banking Group, , is scheduled to be held in Jeddah on 9 and 10 of next Ramadan. The Symposium will discuss in its first session, methods of calculating Zakat of equity and debt financing. The session is expected to shed light on the many queries raised by dealers in the financial markets.
The Symposium, which will be held under the patronage of HE Sheikh Saleh Abdullah Kamel, Chairman of Al Baraka Banking Group, will cover Fiqh and Islamic doctrinal researches submitted by Scholars specialized in Islamic banking and finance, who will discuss issues related to investment by agency, Sukuk; and Fiqh issues of debt and participation contracts; in addition to two research papers in the Zakat and provisions of dealing in gold and its recent applications. A number of scholars and economists will comment on these researches in open sessions attended by about a thousand interested people from various Islamic countries.
Dr. Yousif Alshubaily, Professor of Jurisprudence at the high Institute of Judiciary, will cover methods of calculating Zakat of equity and debt financing and will also cover cases of Zakat of stock from the point of view of the shareholder’s intention. This falls within three elements viz., the first is the investor zakat, the second is the shareholders’ equity (funding sources) and the third is the shareholder- saver Zakat, as well as several details and branches about shareholder Mudarib Zakat (trader), and explanations on how to calculate deferred debt Zakat, as well as assets leased through financing lease.

Mr. Adnan Ahmed Yousif, President & Chief Executive of Al Baraka Banking Group stated that this Symposium was first held in the city of Medina in the period from 17-20 September 1403, corresponding to 27-30 June 1981, and has since continued its sessions until it reached 33 sessions to date, achieving a large part of its goals such as: finding out economic solutions to the problems faced by Muslim communities, knowledge of Figh opinion with regard to recent and modern economic and financial transactions as well other important objectives.
for Islamic Economics represented a reference, and database which feed researches and fatwas of Shari’a boards of banks, financial institutions, figh academies, and different organizations and agencies around the globe. In addition, such recommendations and resolutions were a foundation base for the establishment of many Islamic enterprises.
Mr. Yousif expressed his deep gratitude to the Chairman of Al Baraka Banking Group, H E Sheikh Saleh Abdullah Kamel, for the adoption, management, financing and direct supervision on this Symposium throughout this period until it achieved all the success so far. Mr. Yousif also extended his sincere thanks and praises to scholars, researchers, executives, employees in Islamic banking, organizations supporting Islamic Banking, the units of ABG which provide the Symposium with their important experience and issues as well as the organizing committee of the Symposium for its efforts, which resulted in this great work.
Dr Ahmed Mohiuddin, Director of Research & Development in ABG, explained that the forth coming 34th Symposium of Al Baraka Banking Group will focus on important topics in a number of emerging financial transactions and other economic subjects from an Islamic perspective - such as Zakat, investment by agency, and the provisions of dealing in gold and silver. He pointed out that the Symposium will print and distribute four new books relating to important issues and themes, in the context of the role of the organizers of the Symposium to disseminate important books in the Islamic world.
It is noteworthy that the Al Baraka Banking Group has traditionally organized this seminar annually with the broad participation of scholars, experts in Islamic Economics, and well-known bankers from both Islamic and international arena, in order to reach a set of recommendations and fatwas that contribute to enrich and rationalize the Islamic Banking sector and offer successful solutions to the problems the industry is facing from the practical stand point. The discussions of this seminar will be attended by over a thousand professionals ranging from Central Bank officials in Muslim countries to CEOs and General Managers from Islamic banks and financial institutions, and researchers interested in the Islamic economy and Islamic banking â€" from different parts of the world.
The Al Baraka Banking Group has a wide geographical presence in the form of subsidiary banking Units and representative offices in fifteen countries, which in turn provide their services through more than 450 branches. Al Baraka is currently having a strong presence in Jordan, Tunisia, Sudan, Turkey, Bahrain, Egypt, Algeria, Pakistan, South Africa, Lebanon, Syria, Indonesia, Libya, Iraq and Saudi Arabia.

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sender : Maan Barazy

Economist - Certified Shari'a Adviser and Auditor (CSAA- AAOIFI Certified) - MA Islamic Comparative Jurisprudence  - BS International Economics  Managing Partner And CEO of Data and Investment Consult-Lebanon – The Centre For Islamic Finance - 

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