(MENAFN - Qatar News Agency) Qatar Faculty of Islamic Studies (QFIS) at the Hamad bin Khalifa University has signed a Memorandum of Understanding with the Derasat Company for Research and Consulting in Islamic Banking to establish scientific cooperation to support research work and provide training to QFIS students in the field of Islamic banking. Prof Dr. Hatem El-Karanshawy, founding dean of QFIS, and Mr. Abdul Basit Ahmed Al Shaibei, CEO of Qatar International Islamic Bank, signed the agreement during a ceremony held at Qatar Foundation. "The agreement is important because it provides the appropriate environment for the adoption of ideas and research. At the same time, it supports our students, encourages collaborative work and achieves the required interaction between practitioners in the banking business and scholars at academic centers. This interaction ensures success for both parties. Our goal is always to produce beneficial knowledge," El-Karanshawy said during his speech. "We hope to contribute to this goal by studying the existing products in the market, appraising their Shariah foundations and hopefully introducing new products. I thank all those who contributed to the success of this agreement. I think it is a good sign, especially as it is the first agreement we have signed under the umbrella of Hamad bin Khalifa University. And God willing, it will be a blessed step." For his part, Al Shaibei said the agreement reflects the desire of the private sector to play a role in dissemination of awareness and knowledge pertaining to Islamic economics and banking. He stressed that the agreement will contribute to conveying the concepts and theories of Islamic economics and Islamic banking, and will work to link the educational inputs in the Islamic studies discipline in a way that ensures contribution to the development and progress of Islamic economics. QFIS was established in 2007 to achieve intellectual plurality that emphasizes the richness and diversity of the Islamic heritage under the umbrella of Hamad Bin Khalifa University. It aims to become a platform of thought and dialogue that leads research and debate in all that relates to Islam and Muslims, be that contemporary concerns or issues of heritage.