Bank muscat, islamic banking services seminar

BankMuscat  hosted an introductory seminar on Islamic banking services in the Sultanate today under the auspices of Sheikh Abdullah bin Salim bin Abdullah A'Salmi, Deputy-Chairman  of the Capital Market Authority. Sulaiman bin Hamad al-Harthy, Group Deputy GM, Consumer Banking, said: this seminar will be followed by a number of introductory seminars at the different parts of the Sultanate in a bid to cast light on the Islamic banking services, the difference between them and the traditional banks, the main features of Islamic finance, the benefits of Islamic banking and other services. He pointed out that the bank will organize a number other seminars in the different regions and wilayats of the Sultanate with participation from experts, specialists and researchers in the field of Islamic banking services. He called on everybody to attend and contribute to the success of these seminars. He also pointed out that the organization of these seminars on Islamic banking services is part of the bank's social responsibility and its keenness to take part in the different issues and events that contribute to the development and growth of the Omani society. Ibrahim bin Nasser al-Sawafi and  Azan bin Nasser al-A'mri, researchers at Ifta'a office, Awqaf and Religious Affairs Ministry, gave an overview of the Islamic banking from Sharia and religious perspective,  the major differences between Islamic banking and conventional banking, the requirements that should be met and the common things between Islamic and traditional banking. The lecture covered some of the products that could be introduced by the Islamic banks, such as Mudharaba, Eejar, Murabaha and Islamic bonds.