PIB sponsors the academic conference “Islamic Banks: Reality and Hope”
Under the auspices of Palestine Islamic Bank, the Supreme Islamic Council in Jerusalem, in cooperation with the Islamic Economy Platform, organized the sixth academic conference “Islamic Banks: Reality and Hope,” with the participation of 20 researchers and academics from Palestine and abroad.
The conference, held in the town of Kafr Aqab in Jerusalem governorate, was launched with a speech by the Conference’s President and Head of the Supreme Islamic Council in Jerusalem, His Eminence Sheikh Dr. Ikrima Sabri, in which he stressed the importance of the Islamic banking sector and the need to upgrade it to meet the citizens’ needs for Islamic banking services. He praised the role played by the Sharia supervisory boards in Islamic banks to ensure the provision of banking services that are committed to the provisions and rules of Islamic Sharia.
The General Manager of Palestine Islamic Bank, Dr. Imad Al-Sadi, and the member of the Bank’s Sharia Supervisory Board, Dr. Ayman Jweleis, presented a research paper entitled “The Social Role of Islamic Banks, Creative Models.” The paper discussed the social contributions of Islamic banks in general and Palestine Islamic Bank in particular, their importance in achieving sustainable development objectives by supporting vital sectors, such as health and education, and their impact on demonstrating the leading role of Islamic banks in building society.
The research paper recommended the need to deepen the principles of social responsibility in Islamic banks by holding meetings, workshops, and conferences that emphasize the humanity of the message of Islamic banks and their effectiveness in laying the foundations of the Islamic economy. It also stressed the need to develop an integrated and consistent methodology to organize the social contributions made by various institutions, including Islamic banks, with the aim of ensuring achieving sustainable development in society.
Al-Sadi stressed the importance of the conference in defining the reality of the Islamic banking sector and clarifying the responsibility of the Sharia supervisory boards, in addition to reviewing the latest financing and investment formulas in Islamic banks and the main challenges and obstacles they face.
Al-Sadi praised the efforts of the Supreme Islamic Council, headed by His Eminence Sheikh Dr. Ikrima Sabri, in addressing the Islamic banking sector through a scientific conference in which knowledgeable researchers, able to present a clear scientific vision, results, and recommendations, contribute to the advancement of the Islamic banking sector.
The conference included four scientific sessions, during which researchers from Palestine and abroad presented 17 research papers on a range of aspects related to the Islamic banking sector, including the establishment of Islamic banks and their role in the field of social responsibility, in addition to investment formulas, and the role of Islamic banks in financial inclusion, Islamic financial engineering, and development of investment formulas.
The final statement of the conference called on Islamic banks to support small and medium enterprises by relying on a sustainable financial program, in addition to deepening the principles of social responsibility and developing digital infrastructure to support the achievement of Islamic financial and banking inclusion.
The mission and vision of PIB revolve around providing comprehensive high quality and modern banking solutions, in accordance with the provisions of the Islamic Sharia laws and investment within an advanced technological perspective. It also sets a deliberate strategy to proceed with the digital transformation process, which resulted in launching pioneering digital services such as the 24-hour digital contact center, Islami Online and Islami Mobile, which offer a distinctive package of banking services through an easy and secure environment that enhances the digital experience for its individual and corporate customers.