Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait - Lenders urged to maintain optimal Islamic behaviour   Join our daily free Newsletter

MENAFN - Arab Times - 20/03/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Arab Times) Kuwait Finance House (KFH), represented by the General Counsel Dr Anwar Al-Fuzaie, and the Executive Manager Shariaa Control Advisory Dr Adnan Al-Mola, has participated in the fourth workshop of Kuwait Center for Islamic Economy, with the presence of prestigious legal and economic figures. The workshop that aims at enhancing economic thought by linking among shariaa, economy and law in an integrated way, discussed important topics, of which Sharia Control Quality between Islamic Banks and Banks Converted to Islamic, and the Control Responsibilities in the Professional Ethics

Al-Fuzaie submitted, in the fifth session of the workshop, a thesis about the control's responsibilities in both professionalism and ethics where he explained that Fatwa and Sharia Control entities shouldn't be limited to sharia control tasks of the financial actions that the Islamic financial institutions ink, but rather they should shoulder the responsibility of maintaining the optimal Islamic behavior in corporations commensurate with the honor of Islamic banking, especially in the fields of advertising and social activities. Moreover he underlined the role Sharia Control entities play in contributing in mentoring financial institutions giving the Islamic economy an honorable image


In addition, he aid that when financial institutions follow the Islamic example, they insure the social responsibility and the ethical role in supporting science and scientists, helping the needy, developing the society and protecting the environment through Zakat, and charities. Meanwhile, Al-Mola tackled during the session the topic of shariaa control at Islamic banks and financial institutions, models and practices. He noted in his thesis that Fatwa and Shariaa Control is one of the most important administrations in the organizational structures at Islamic banks and financial institutions. He added that its mission represents the strategic depth and the distinguished characteristic of Islamic banking and businesses

Al-Mola explained that Shariaa Control provides consultancies to all sectors and departments of the bank concerning developing shariaa-compliant products and services, not to mention it provides training courses for all employees in coordination with the bank's training and development activity. He highlighted also the role it plays in raising awareness among employees through awareness programs and making sure they are well educated in Islamic banking matters by Fatwa e-mail to employees along with periodical measurement of their sharia understanding level in coordination with the relevant departments


Arab Times

  MENA News Headlines
 Nov 29 2015 - Detained journalists urge EU not to compromise with Turkey on rightsAsia Times
(MENAFN - Asia Times) Can Dundar (R) and Erdem Gul speak to the media outside a courthouse in Istanbul Thursday European diplomats have been measured in their criticism of media freedom in ...

 Nov 29 2015 - Putin approves economic sanctions against TurkeyAsia Times
(MENAFN - Asia Times) (From RT) Russian President Vladimir Putin formally signed a decree imposing a package of economic sanctions against Turkey ignoring a reconciliatory move by Turkish ...

 Nov 29 2015 - Saudi- Sir Syed an epitome of unity and tolerance: Raj BabbarArab News
(MENAFN - Arab News) RIYADH: Sir Syed Ahmed Khan truly inspires us showing the way for tolerance and unity in diversity by considering Hindus and Muslims as two eyes of India; and if one of them is ...

 Nov 29 2015 - Saudi- New tax will hit 'a few land owners'Arab News
(MENAFN - Arab News) RIYADH: The real estate sector is upbeat about the recent Cabinet decision to impose a 2.5 percent tax annually on vacant land in urban areas saying that the move will create ...

 Nov 29 2015 - SJAHI marks 60 years of Saudi Japan tiesArab News
(MENAFN - Arab News) JEDDAH: A seminar on energy efficiency in the automobile sector was held as part of the 60th anniversary of the establishment of diplomatic relations between Saudi Arabia and ...

 Nov 29 2015 - Saudi- Pilgrim killed 17 injured in road accidentArab News
(MENAFN - Arab News) MAKKAH: An Umrah pilgrim was killed and 17 others one of them critically were injured when their bus hit a truck on the Madinah-Makkah highway early Friday morning. The bus ...

 Nov 29 2015 - Saudi- Action urged against child abuseArab News
(MENAFN - Arab News) RIYADH: Top academics have called for a concerted drive against domestic violence in cases involving child abuse. Describing it as a global phenomenon they called for raising ...

 Nov 29 2015 - Saudi- New Causeway system put offArab News
(MENAFN - Arab News) JEDDAH: Abdul Rahman Al-Yahya director general of the Passport Department announced that plans to set up a one-stop border crossing post at King Fahd Causeway have been ...

 Nov 29 2015 - Saudi- Incentive for border health workersArab News
(MENAFN - Arab News) JEDDAH: The director of the Health Department in Jazan Ahmed bin Mohammed Al-Sahli has said that the Health Ministry will pay SR20 million to workers at hospitals in the southern ...

 Nov 29 2015 - Bahrain hits out at Iranian meddlingArab News
(MENAFN - Arab News) MANAMA: Bahrain has again warned Iran against interfering in its internal affairs. The Ministry of Foreign Affairs summoned the charge d' affaires of Iran's Embassy in Bahrain ...






Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help