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A Seminar about “Islamic Finance: between Theory and Practice” in the University

Wednesday, September 23, 2020

With the participation of speakers from Jordan, Egypt and Palestine, The Faculty of Administrative and Financial Sciences in Arab American University organized an online seminar via Zoom about the reality of the Islamic finance in Arab and Islamic world between theory and practice.

A photo of the seminar via Zoom

At the beginning of the seminar, Dr. Mohammed AbuSharbeh- the Assistant to the Dean of the Faculty of Administrative and Financial Sciences welcomed the participants and started talking about the development and spreading of the Islamic banks around the world after the financial crisis of 2008. He presented the noticeable growth in the Islamic banks assets that reached 2.2 trillion $ at the end of 2019.

Dr. Ashraf Dwabeh- a Professor of Finance and Islamic Economy in Istanbul Sabahittin Zaim University in Turkey talked about the main differences between the traditional finance and the Islamic banking finance, and mentioned the most important issues and challenges that are currently facing the Islamic finance and Islamic banking. 

Prof. Ayman Alhmoud- the CEO of Dr. Sami Hmoud Group for Islamic Financial and Banking Consulting in Jordan presented the history of the Islamic banking in the modern era, and talked about the Islamic finance formulas and the most important form of Islamic investment which is the “Murabaha contracts” for purchase orders and the main Sharia controls over it.

In his turn, Dr. Fadi Abu Dayak- a Lecturer in Palestine Technical University – Kadoorie explained the reality and stages of the Bank finance in Palestine, and talked about the main challenges and obstacles that face the Islamic banks in the current status.

Finally at the end of the meeting, Dr. Abu Sharbeh thanked all the participants for their time and asserted that such seminars and activities need to continue as they contribute in improving the awareness of people in the Islamic Banking and in the economic and social development.