Tajikistan keen on Islamic banking; seeks investment from Qatar

Tajikistan is keen to benefit from Islamic banking and utilise the experiences of Islamic banks in his country, Minister of Economic Development and Trade Nematullo Hikmatullozoda has said.“Tajikistan wholeheartedly welcomes investments, especially in the area of Islamic finance,” Hikmatullozoda said during his meeting with QIIB chief executive officer Abdulbasit Ahmed al-Shaibei yesterday. Hikmatullozoda, who visited QIIB headquarters yesterday, lauded the expertise of QIIB in Islamic banking, which has “carved out a niche for itself” in the global banking system. He expressed the hope that Tajikistan would be able to attract Islamic banks to his country, where his ministry is making efforts to convince investors about the attractive investment opportunities available. In particular, Tajikistan is keen on expanding and further cementing the relationship with Qatar’s financial and business sectors.Al-Shaibei expressed happiness at the visit of Hikmatullozoda to QIIB and said it reflected his interest in examining “the successful Islamic banks’ closely.” QIIB, he said, is one of the prestigious banks in Qatar and was established more than 25 years ago.The CEO provided a sneak preview of Islamic banking in general and its growing importance and role in the global banking system in particular.Al-Shaibei pointed out that Islamic banking was now gaining ground and was being hosted by many countries. Economists and experts around the world have been convinced of Islamic banking, which is built on the solid foundations of value-based banking and has a bright future.  Al-Shaibei also spoke about QIIB’s experience in Qatar and the region, pointing out that the bank is in the forefront of providing funding and extending support to various development projects in Qatar. QIIB has developed expertise in Islamic banking and established several regional and international partnerships.Hikmatullozoda presented a souvenir to al-Shaibei, which QIIB said reflects the culture and civilisation of ancient Tajikistan.