At the 11th Doha Islamic Finance Conference, experts spotlight Qatar’s fintech-driven approach, ethical investment model, and leadership in shaping the future of Shari’ah-compliant finance.

By Abdullahi Yusuf

Qatar continues to strengthen its position as a global leader in Islamic finance, leveraging its strategic initiatives, robust regulatory framework, and innovative financial solutions, said officials during the 11th Doha Islamic Finance Conference yesterday.

With a rapidly growing sector supported by cutting-edge technologies and a strong commitment to ethical investment practices, Qatar has become a hub for Islamic financial services in the region and beyond. The country’s proactive role in shaping global Islamic finance trends, combined with its stable economic environment, underscores its leadership in this dynamic industry.

Addressing the gathering, the Chairman of the Higher Organising Committee, Prof. Dr. Khalid bin Ibrahim Al Sulaiti, accentuated that swift technological advancements have transcended their role as mere supportive tools, emerging as pivotal forces driving the transformation of global economic and financial systems.

Among the most significant trends reshaping the future of the financial sector is the integration of blockchain and AI, which combines blockchain’s transparency and decentralization with AI’s advanced analytical capabilities and precision-driven decision-making to offer smart solutions.

He said, “As this synergy continues to evolve, a critical question emerges: what will the future of Islamic finance look like?”

Chairman of Dukhan Bank, Sheikh Abdulla bin Fahad bin Jassim Al Thani, highlighted the transformative effect of fintech on Islamic banking has been significant, with AI and blockchain technology playing crucial roles in driving this change.

He noted that the technology is essential in refining financial forecasting, strengthening risk analysis, and enabling the  banking services with enhanced efficiency.

Secretary General of the International Islamic Fiqh Academy, Prof. Dr. Koutoub Sano, added “Islamic finance, with its balance of tradition and modernity, offers an economic model that promotes both economic effectiveness and ethical integrity. Its principles aim to create an economic system that fosters the growth, circulation, and protection of wealth, ensuring transparency and contributing to the well-being of individuals, societies, and the global community. There are vast opportunities to harness the potential of blockchain and AI to propel the Islamic financial sector to new heights.”

Attendees from diverse sectors, including banking, finance, academia, and government, took part in the conference to engage in stimulating discussions and share their perspectives on the evolving landscape of Islamic finance. The conference has established itself as a key platform for knowledge exchange and thought leadership, tackling the most critical challenges confronting the industry.