Speaker:
Ali Vania
Senior Manager - Islamic Bank of Britain
Date : 26th May 2011
Time : 6.15pm
Venue:
British Bankers' Association
Pinners Hall, 105 - 108 Old Broad Street, London EC2N 1EX
(This building is near Liverpool Street, Bank and Moorgate Underground Station)
Pinners Hall, 105 - 108 Old Broad Street, London EC2N 1EX
(This building is near Liverpool Street, Bank and Moorgate Underground Station)
About the Lecture:
There is more to Islamic banking fundamentals than mere abolition of interest (riba); the evils of interest have been discussed throughout the ages. This was driven home strongly by Umer Chapra, a leading contemporary scholar in Islamic economics, when he envisaged that Islamic banks nature, outlook and operations could be distinctly different from those of conventional banks and they should also play a social-welfare-oriented rather than a profit-maximising role.
There is a wide spectrum of Shariah-compliant products offered to customers however, it is often viewed that Islamic banks are circumventing the Shari’ah requirements in order to secure quick returns linked to LIBOR. The concentration of debt-based products and services based on Murabaha continues to raise considerable uneasiness because it is believed to be inconsistent with the intention that Islamic banking should be geared to promote a financial system that establish profit and risk sharing practices.
Ali Vania, based on his experience at the Islamic Bank of Britain (IBB), will discuss the important fundamentals as well as the underlying structures for Islamic banking products and services. He will then open the floor to debate on-going concerns and also look at the whether Islamic retail banking market in the UK offers a real choice for customers seeking banking products and services that have ethical and moral dimensions.
About the Speaker:
Ali Vania holds a Bachelors degree in Economics and also industry specific professional qualifications in the field of Islamic finance. He is an associate member of the Chartered Institute for Securities & Investments (CISI).
Ali has extensive retail banking and project management experience and has held senior positions in conventional and Islamic financial institutions. He has played an important role in the development, branding and entrenchment of Islamic retail banking solutions within the UK marketplace.
Ali has extensive retail banking and project management experience and has held senior positions in conventional and Islamic financial institutions. He has played an important role in the development, branding and entrenchment of Islamic retail banking solutions within the UK marketplace.
Alternatively, please contact:
Ms Farida Rahman
Email. farida.r@islamic-banking.com
T. +44 (0)20 7245 0404
Email. farida.r@islamic-banking.com
T. +44 (0)20 7245 0404
Deal not unjustly, and ye shall not be dealt with unjustly. The Holy Qur'an 2:279
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