TEHRAN HOSTS INT’L CONFERENCE ON ISLAMIC FINANCE

Sharif University of Technology, west of Tehran, played host to the International Conference on Islamic Finance. Attended by a host of domestic and foreign officials and experts, the get-together aimed to explore avenues to use huge financial resources of Muslim states, to introduce policies on Islamic finance, to hold training courses for managers,

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Sharif University of Technology, west of Tehran, played host to the International Conference on Islamic Finance. Attended by a host of domestic and foreign officials and experts, the get-together aimed to explore avenues to use huge financial resources of Muslim states, to introduce policies on Islamic finance, to hold training courses for managers, and to share achievements and experiences of industrial organisations. Seyyed Hamid Purmohammadi, deputy minister of economic affairs and finance for banking and insurance affairs, for his part, said Iran was the first country that passed riba-free (usury-free) banking law in 1983 and established Islamic banking system. Hossein Purzandi, Tehran Municipality’s financial and administrative affairs head, elaborated on ways to attract foreign funds for development projects. Sami Ibrahim Al-Swailem, the senior research advisor in IRTI, IDB, Monzer Kahf, a professor of Islamic banking and finance in the U.S., Shamim Ahmad Siddiqui, a professor of University of Brunei, Darussalam, and Zohra Jabeen, an advisor of Institute of Management Sciences of Peshawar, Pakistan, delivered speeches and offered articles. The conference will be followed by two workshops entitled “Hedging in Islamic Finance” and “Sukuk: Principles”.