Banking executives from Korean Federation of Banks recently participated in a training course on Islamic finance in collaboration with Qatar Central Bank (QCB). Ten executives from six organisations in Korea participated in the training.
This was the first time that Korean banking professionals were given training in Islamic financing. It was intended to enhance the understanding of Islamic finance so that it could be applied in Korea.
The training was part of an agreement signed by the Middle East-Korea Financial Co-operation delegation led by Kim Jong-hoon, head of the Korean National Action Plan Committee, and QCB last January. The agreement said QCB would provide training on Islamic finance to Korean bank officials.
The trainees had a deeper look at the financial industry in the Middle East, including Qatar, licensing systems, main principles of Islamic finance, basic contracts and case studies on Islamic financial products. They visited Qatar Islamic Bank, Qatar Financial Centre, Qatar Islamic Insurance Company, Barwa Bank, Masraf Al Rayan and others.
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