Over 1,000 officials from central banks of Islamic states, chief executives and general managers of Islamic financial institutions are set to attend a key finance symposium being hosted by Al Baraka Banking Group in Jeddah.

The two-day annual 'Symposium for Islamic Economy' will be held on July 25 at the Hilton Hotel, said Al Baraka which has been organising the symposium every year with the broad participation of leading scholars and experts in Islamic economics.

The event will examine a number of financial transactions and other economic issues from an Islamic perspective and will be led by group chairman Shaikh Saleh Abdullah Kamel.

The opening session will be addressed by Shaikh Saleh, Group president and chief executive Adnan Ahmed Yousif and unified Sharia Supervisory board president Dr Abdul Sattar Abu Guddah.

Unveiling the details of the symposium, CEO Yousif said a key highlight will be the 'Al Baraka Prize in Islamic Economics' which will be awarded at the event.

'The bank will award the first prize for this year to one of the leading figures in Islamic jurisprudence for clear and distinct efforts in the development of Islamic banking,' he stated.

Yousif said that the symposium managed through its successive sessions since its inception in 1983 to issue many of the recommendations and fatwa on emerging financial transactions and economic issues that were needed to consolidate and issue legitimate judgments on them.-TradeArabia News Service