Local Omani player Amjaad Development and London based Edbiz Consulting Limited are collaborating in the organization of a pioneering Islamic finance conference in Oman, a move signaling the growing interest within the gulf nation.
His Majesty Sultan Qaboos opened the country's doors to Islamic finance earlier this year causing widespread enthusiasm within the Islamic finance industry for entry into this new and potentially lucrative untapped market. Amjaad Development's Chairman, Khalid Al Yahmadi is of the view that Islamic finance is desired by the majority of Omanis and that together with government support, it can grow rapidly.
The OIEF to be held in December will bring together key stakeholders from the Islamic financial services industry to discuss the ways in which Islamic finance can play a role in Oman's economic future. It will be a unique opportunity for local and foreign players to network and to learn about some of the challenges that need to be overcome before Islamic finance can become a recognisable feature on the Omani financial landscape. It is interesting to note that whilst the predominant theme of the conference will be on Islamic finance penetration in Oman, socially responsible Islamic institutions such as Awqaf & Zakat will be discussed in detail.
This exciting announcement makes it clear that things are beginning to gain momentum in Oman, as besides the OIEF, other Islamic finance events of a smaller scale are scheduled to take place over the coming months. Furthermore, recruitment agencies have seen a sharp spike in the number of vacancies advertised for Islamic finance professionals by banks in Oman.
The thought of an Islamic finance event supported by local Omani stakeholders will make the mouths' of many Islamic bankers water as they scramble to grab their piece of the Omani pie.
While Oman has been a slow starter in Islamic finance, Professor Humayon Dar, Chairman of Edbiz Consulting Limited commented "More Muslim countries are adopting Islamic financial services, and Oman has shown interest at an opportune time".
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About Amjaad Development
Amjaad Development is an investment company which owns and manages a number of companies especially in the construction industry. Amjaad Development has achieved a stellar track record and has the capability of providing services in various types of investments such as engineering and development management. Led by Khalid Al Yahmadi, Amjaad Development is a known player in the Omani market.
For more information, please visit: www.amjaad.com
About Edbiz Consulting
Edbiz Consulting Limited is a Shari'a Advisory Firm based in London and chaired by world renowned Professor Humayon Dar. The Edbiz Consulting team offers Shari'a Advisory & Structuring Services and has developed a reputation for its unique bi-lingual ability that enables them to speak the language of the Shari'a as well as that of finance. Edbiz Consulting offers a comprehensive Islamic finance service package for its diverse clientele.
For more information, please visit: www.edbizconsulting.com
For further information about Amjaad Development:
Khalid Al Yahmadi
Email: khalid@amjaad.com
For further information about Edbiz Consulting:
Rizwan Malik
Email: rmalik@edbizconsulting.com
© Press Release 2011
