Indonesian Banks Development Institute Delegation Visits QIIB

Doha April 26 (QNA) - HE the Ambassador of the Republic of Indonesia to the State of Qatar Muhammad Basri Sidehabi accompanied by an Indonesian delegation from the Indonesian Banks Development Institute visited Qatar International Islamic Bank (QIIB) headquarters. The highlight of the meeting was extensive discussions and dialogues that focused on various aspects of Islamic banking. QIIB's senior executive management members attended the sessions. In his welcome address, QIIB CEO Abdulbasit Ahmed Al-Shaibei expressed his pleasure at the visit of HE the Indonesian Ambassador and the delegation members and their desire to have a close look at Qatars Islamic banking, which has been growing steadily over the years. Founded some 25 years ago, QIIB has a pioneer role in promoting Shariah-based banking in Qatar. He said, "The visit of this high-level delegation to our bank is very important. We are confident the Indonesian delegation, comprising senior bankers, will have a lot to tell us about their experiences in their country. We will also be too happy to share our experiences and insights about banking developments, both at the local and global levels." The QIIB Chief Executive Officer presented a brief overview about Islamic banking and its vital role within the global banking system and the significant growth it has been witnessing. Islamic banking has gained clients trust and credibility over the years because of its ability to meet their banking needs with minimum risks and the strong foundation on moral and ethical values based on Islamic Shariah. Al-Shaibei also spoke about QIIBs experience in Qatar and beyond noting that "The bank has a very rich experience in financing various projects and meeting the requirements of various key sectors in the State of Qatar. QIIB has many partnerships- regionally and internationally, the latest of which was the launching of a partnership in the Kingdom of Morocco that aims at opening a joint venture bank that operates based on the principles of Islamic Sharia. The Kingdom of Morocco is considered one the newest countries that has issued new legislations to allow Islamic banks to enter its market". On his part, the Indonesian Ambassador expressed his appreciation and thanks to QIIB and praised its renowned banking experience in Qatar and abroad. Sidehabi stressed on the fact that the Indonesian delegations visit to QIIB was aimed at benefiting from Qatars Islamic banking experience and further expanding the areas of cooperation between the financial and business sectors of the two friendly countries. HE the Ambassador Sidehabi spoke about the great efforts being made by the authorities concerned in Indonesia to strengthen Islamic banking and deploy it in various cities and regions of the country, where there is a huge demand for Shariah-based banking services. The legislative and financial entities in Indonesia are making efforts to facilitate promotion of Islamic banking in the country, year after year". He added, "The visit of the Indonesian Banks Development Institute's delegation to QIIB today is part of the efforts made towards the development of Islamic banking by strengthening cooperation and creating a suitable platform for the exchange of ideas, sharing knowledge and expertise in the field. Qatar has a distinct experience in banking, Shariah-based banking in particular, and Indonesian banks can significantly benefit from it". (QNA)