The 2nd Islamic Banks and Financial Institutions Conference in Syria

Under the patronage of The Governor of The Central Bank Of Syria, Dr. Adib Mayaleh, the 2nd Islamic Banks & Financial Institutions Conference in Syria under the Slogan  » Islamic Banking – Investment Banking » at Four Seasons Damascus Hotel on 12-13/03/2007

Attended by more than 700 participants representing Islamic banks, financial institutions, commercial and investive banks, academic, governmental and Shari’ a bodies, industrialists, traders, economists, political and diplomatic missions, ministries, and the chambers of commerce, industry and tourism, the second Islamic banks and financial institutions conference in Syria has started activities on Monday 12/3/2007, with an international participation covered the following countries (Qatar , Sudan , Pakistan, Germany, UK , Malaysia, India, Swiss, Bahrain, Yemen, Saudi Arabia, U.A.E , Jordan, Lebanon (in addition to Syria).

The opening session included the speech of: Mr. Maher Abdul Hak, General Manager of Al-Salam for Conferences, Mr. Hussein Al-Meezah, Vice chairman and Managing Director Al-Salam Bank ( Bahrain ), Mr. Muhammad Abdul Latif Al-Mana, Vice Chairman Qatar Islamic Bank, His Eminence Dr. Sheikh Ahmad Badr Eldeen Hassoun, Grand Mufti of Syria, Dr. Saber Muhamad Hassan, Governor, Bank of Sudan, Riad Salameh, Governor of Central Bank of Lebanon, Sheikh Abdullah bin Saud AL Thani, Governor of Qatar Central Bank, and Dr. Adib Mayaleh, Governor of Central Bank of Syria, who opened the conference with a welcoming speech in which he wished for all participants to get the most of this event and said: “ On the Occasion of the Second Islamic banks and Financial Institutions Conference, which activities came as a completion to what we have started in the First Islamic Banking that been held two years ago, I would like to address the economical activists in general and the banking sector activists in particular, saying that be sure that the Government and the Central Bank of Syria are working together to support your steps, eliminate the obstacles, and to open all possible ways to make your works successful, as your success is our success and your failure will make us review our policies to reach the stated goal ” and he concluded his speech stating that “ The Establishment of Islamic bank in Syria comes in accordance with the serious approach adopted by Syria , to meet the requirement of a wide range of our community, the banking sector variation, freshen the investive climate, attracting the highest possible number of investment opportunities, and to collaborate in founding projects that conform with Islamic Shari’a.

Sheikh Abdullah bin Saud AL Thani, Governor of Qatar Central Bank spoke throughout the opening session and said “We, in the state of Qatar, Congratulate Syria for the success achieved in overstepping the difficulties that accompanied the financial reform with the least negative effects, that been reflected clearly in the stability of the Syrian National Currency exchange, which gave the whole Syrian Economy a high reliability and helped absorbing the effects that accompanied the financial reform decisions, that were taken by the Central Bank of Syria in the last few years. We, from our wide experience in the field of Islamic Banking, are ready to exchange expertise in this regard with the Central Bank of Syria, for our mutual benefit”.

In his speech, His eminence Dr. Sheikh Ahmad Badr Eldeen Hassoun, Grand Mufti of Syria said: “The Second Islamic Banks and Financial Institutions in Syria coincides with the start of Islamic banking operations for more than one Islamic bank, having completed their public subscription process.

And added “The conference’ slogan refers to the true and comprehensive meaning of Islamic Banking, which is investment banking, touches the various areas of investment activities (agriculture, industry, trade, health and services) taking into consideration the Shari’ a controls, the ethical values and the spiritual principles that are formalized by Allah for the happiness of all Humanity, in order to make the economy an integrated benefit economy; not a conflicted benefit economy”.

Mr. Maher Abdul Hak, General Manager of Al-Salam for Conferences (The Organizers) in his speech said “This year’s conference takes an extra importance being coincided with the launch of Islamic banks and with the increasing number of foreign banking investments that are coming towards the new promising Syrian market. We hope for this conference to contribute in reflecting the real openness that Syria is witnessing under the wise leadership of His Excellency Mr. President Bashar Al-Assad, in a way that provides a close look into the available investments in the Syrian Market.

The successful foundation of banking operations will lead “God willing” to the foundation of an Islamic Stock Market, as this conference will show the possible means through focusing on the experience of some countries in this regard like Sudan, Qatar and Pakistan…”

Following the opening session, Dr. Adib Mayaleh , the Central Banks Governors, His Eminence the Grand Mufti of Syria in addition to senior officials and participants, opened the associated exhibition, in which the following parties participate:

Al-Salam Bank ( Bahrain ) , Qatar Islamic Bank ( Qatar ) , Central Bank of Qatar (Qatar), Real Estate Bank ( Syria ) , International Turnkey Systems – ITS (Kuwait) , Al-Aqeelah (Kuwait), Aref Group (Kuwait) , Al Baraka Banking Group (Bahrain) , Universal Payment Services – UPS (Kuwait), Tadhamon International Islamic Bank (Yemen), Path–Solutions (Kuwait), Cham Bank (Syria) , Investment Dar (Kuwait), Islamic Development Bank ( Saudi Arabia ) , Wahoud Group (Syria) Jordan Islamic Bank (Jordan), Islamic Insurance Company (Jordan), TechnologyWorld (Kuwait), Arab American Takaful Insurance (Jordan), CreditCard Services Company (Lebanon), Al-Bayan Economic Magazine (Lebanon) , Syria Steps (Syria), Al-Eqtesad Magazine (Syria) , Arab Advertising Organization (Syria), Islamic Finance Information service – IFIS (India), Shirkah (Swiss)

The conference speakers’ list included:

Dr. Sheikh Ahmad Badereldin Hassoun, Grand Mufti of Syria.

Sheikh Abdullah bin Saud AL Thani, Governer of Qatar Central Bank.

Mr. Riad Salameh, Governor of Central bank of Lebanon.

Dr. Saber Muhammad Hassann , Governer of the Central Bank of Sudan.

Dr. Abdul Latif Abood – General Manager, Insurance Supervisory Commission

Dr. Mulham Dibo, Chairman & General Manager , Real Estate Bank (Syria)

Dr. Nidal Al-Sha’ar, Secretary General, Accountancy Commission of the Islamic

Mr. Hussein Al-Meezah , Vice Chairman & Managing Director (Al-Salam Bank Bahrain)

Mr. Salah Al-Jaida, Chief Executive Officer (Qatar Islamic Bank)

Mr Mohammad Al Mana, Vice Chairman ( Qatar Islamic Bank )

Sheikh Hamed Muhammad Khajah – Chairman of Al-Aqeelah ( Kuwait )

Dr.. Nabil Nussaief, head of Islamic Banks bureau – Islamic Development Bank (Saudi Arabia)

Mr. Adnan Al-Musallam, Chairman and Managing Director, Investment Dar, (Kuwait)

Dr. Faisal Al-Khateeb, Vice Chairman – Al-Cham Bank (Syria)

Mr. Hassan Al Ammary, Al Tawfik for investment funds (Saudi Arabia)

Mr. Abdulbasit Ahmed Al-Shaibei, Chief Executive Officer, Qatar international Islamic Bank (Qatar)

Dr. Abdul Kawee Radman, International Investment Manager – Tadhamon International Islamic Bank ( Yemen)

Mr. Baker Mahmoud Rihan,General Manager Asst of Jordan Islamic Bank (Jordan)

Mr. Ahmad Al- Sabagh, General Manager The Islamic Insurance Co. ( Jordan)

Dr. Mousa . M .M .AL Qudah Resident, sharia Board Member, and Member of the Board of Directors at AL – Barakah Takaful (Jordan)

Mr. Irfan Siddiqui, President of Meezan Bank (Pakistan).

Mr. Haitham Abdou , Senior Manager , International Turnkey Systems ( ITS )

Mrs. Entisar Al seuidi ,General Manager, Universal Payment Services (Kuwait)

Mr. Nazzem Yaghmour- EVP-Business Development, Path Solutions (Kuwait)

Dr. Wahbeh Al-Zuhaile, head of Shari’ a Supervisory commission atAl- Cham Bank (Syria)

Dr. Abdul Sattar Aboghedeh, Head of Shari’a Commission – Al Baraka Group

Dr. Hussam Al-deen Farfour, Vice President of Al-Fatuh Al-Islamee Association

Dr. Ala’ Al-deen Za’tari, Al- Fatwa Secretary– Ministry of Endowments

Mr. Khaled Al Kharji, Banking Supervision & Examination Department, Central Bank of United Arab Emirates (UAE).

Miss Malak Ghanem, Head of Banks Supervision Department, Jordan Central Bank (Jordan)

Miss Azza Al-Rabat, director of Banks Supervision Department, Central Bank of Syria (Syria)