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Doha to Host Islamic Finance Conference on April 8

The 11th Doha Islamic Finance Conference on April 8 is set to explore the development of decentralized financial platforms that align with Islamic economic principles (QNA)
The 11th Doha Islamic Finance Conference on April 8 is set to explore the development of decentralized financial platforms that align with Islamic economic principles (QNA)
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Doha to Host Islamic Finance Conference on April 8

The 11th Doha Islamic Finance Conference on April 8 is set to explore the development of decentralized financial platforms that align with Islamic economic principles (QNA)
The 11th Doha Islamic Finance Conference on April 8 is set to explore the development of decentralized financial platforms that align with Islamic economic principles (QNA)

The 11th Doha Islamic Finance Conference on April 8 is set to explore the development of decentralized financial platforms that align with Islamic economic principles.

Held under the theme ‘Integration of Blockchain and AI: The Future of Islamic Finance,’ the event will bring together a distinguished lineup of government entities, global organizations, and leading financial and academic institutions specializing in finance, economics, and technology.

Dr. Khalid bin Ibrahim Al Sulaiti, Chairman of the Organizing Committee and Vice Chairman of Bait Al-Mashura Finance Consultations, said: “The world is witnessing the trajectory of a new revolution driven by the integration of blockchain and AI, adding complexity while opening broader horizons for more efficient, transparent, flexible, and sustainable solutions.”

He added that after decades of growth, leadership, development, and innovation, Islamic finance has established itself as one of the inspiring economic models capable of adapting to global changes and has achieved a creative synergy between Shariah principles and financial innovation.

“With the emerging integration of blockchain and AI, Islamic finance stands at a historic crossroads, poised to develop a modern model for smart and sustainable Islamic finance, one that balances innovative technologies with the values of Islamic economics and enables it to compete in the digital financial world,” Al Sulaiti noted.

“Through this 11th conference, we aim to anticipate the future of Islamic finance in light of the integration of blockchain and AI by analyzing the future prospects of this technological synergy,” he said.

This includes examining Shariah rulings and regulatory challenges in a rapidly evolving digital environment and fostering innovation and creativity by adopting decentralized AI-based solutions to develop Islamic financial products, particularly endowments (Awqaf), according to Al Sulaiti.

Also, he said, the conference uniquely addresses complex topics, such as the investment opportunities for Islamic financial institutions in the gaming and e-sports sectors and explores experiences and initiatives of decentralized Islamic finance platforms built on values that enhance security and privacy.

Furthermore, it aims to identify the Shariah and legal frameworks for incorporating AI and blockchain in Islamic finance, support and protect the management of endowments (Awqaf) using decentralized AI, and unlock investment and innovation opportunities in Shariah-compliant decentralized digital gaming, the Vice Chairman said.

The conference, he added, seeks to develop decentralized Islamic finance platforms that ensure security, privacy, and augment value chains.

The event will feature discussions on major topics, including Decentralized AI: Rules and Regulations. This theme focuses on studying the impact of decentralized AI on deriving Shariah rulings and analyzing the implications for Islamic jurisprudence, particularly regarding smart contracts and issues of ambiguity (Jahala).

It also explores the role of regulatory authorities in overseeing decentralized financial operations and examines the feasibility of establishing a comprehensive legal framework for integrating these

technologies in Islamic financial institutions to ensure Shariah compliance, boost investor confidence, and enhance institutional efficiency.

The second theme, ‘the ‘Endowments (Waqf) in the Era of Blockchain and AI Integration,’ discusses the role of blockchain and AI in developing waqf products by reviewing existing initiatives and exploring mechanisms for utilizing decentralized AI to safeguard endowments and ensure their sustainability.

It also highlights the role of these technologies in enhancing humanitarian responses to crises and disasters and delves into Shariah rulings for managing smart waqf systems.

Business reports indicate a growing number of organizations seeking to integrate AI solutions into their operations, highlighting the significant impact of smart technologies on performance efficiency and revenue growth.

They also show that endowments, a cornerstone of sustainable development in Islamic societies, can greatly benefit from the integration of blockchain and AI.

The 3rd theme is about ‘The Blockchain Gaming Revolution: Rulings and Investment Opportunities’ from the perspective of Islamic finance, focusing on Shariah-compliant rulings and regulations for gaming and e-sports. It also explores the potential use of gaming for charitable purposes by analyzing real-world global examples.

The electronic gaming industry is among the fastest-growing global sectors, with market projections exceeding $280 billion by 2024 and anticipated growth to $665.8 billion by 2030.

The entry of AI and blockchain technologies into this field has created significant investment opportunities in decentralized gaming and digital sports.

The fourth theme examines the ‘Value Chains through Decentralized Finance Powered by AI’ through the development of Shariah-compliant value-based investment platforms in the context of blockchain and AI integration.

It reviews existing initiatives and proposes new ones to advance these platforms. Furthermore, it presents a vision for decentralized Islamic finance built on value chains and examines the role of these technologies in enhancing cybersecurity and data privacy protection.

With the growing interest in decentralized finance (DeFi) as an alternative to traditional systems, decentralized AI technology amplifies its significance, unlocking broader applications.

However, Islamic finance platforms in this domain remain limited and face Shariah, ethical, and legal challenges.

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Business

Lebanese Cabinet Approves Draft Law on Financial Crisis Losses

A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
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Lebanese Cabinet Approves Draft Law on Financial Crisis Losses

A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)

Lebanon's government on Friday approved a draft law to distribute financial losses from the 2019 economic crisis that deprived many Lebanese of their deposits despite strong opposition to the legislation from political parties, depositors and banking officials.

The draft law will be submitted to the country's divided parliament for approval before it can become effective.

The legislation, known as the "financial gap" law, is part of a series of reform measures required by the International Monetary Fund (IMF) in order to access funding from the lender.

The cabinet passed the draft bill with 13 ministers in favor and nine against. It stipulates that each of the state, the central bank, commercial banks and depositors will share the losses accrued as a result of the financial crisis.

Prime Minister Nawaf Salam defended the bill, saying it "is not ideal... and may not meet everyone's aspirations" but is "a realistic and fair step on the path to restoring rights, stopping the collapse... and healing the banking sector.”

According to government estimates, the losses resulting from the financial crisis amounted to about $70 billion, a figure that is expected to have increased over the six years that the crisis was left unaddressed.

Depositors who have less than $100,000 in the banks, and who constitute 85 percent of total accounts, will be able to recover them in full over a period of four years, Salam said.

Larger depositors will be able to obtain $100,000 while the remaining part of their funds will be compensated through tradable bonds, which will be backed by the assets of the central bank.

The central bank's portfolio includes approximately $50 billion, according to Salam.

The premier told journalists that the bill includes "accountability and oversight for the first time.”

"Everyone who transferred their money before the financial collapse in 2019 by exploiting their position or influence... and everyone who benefited from excessive profits or bonuses will be held accountable and required to pay compensation of up to 30 percent of these amounts," he said.

Responding to objections from banking officials, who claim components of the bill place a major burden on the banks, Salam said the law "also aims to revive the banking sector by assessing bank assets and recapitalizing them.”

The IMF, which closely monitored the drafting of the bill, previously insisted on the need to "restore the viability of the banking sector consistent with international standards" and protect small depositors.

Parliament passed a banking secrecy reform law in April, followed by a banking sector restructuring law in June, one of several key pieces of legislation aimed at reforming the financial system.

However, observers believe it is unlikely that parliament will pass the current bill before the next legislative elections in May.

Financial reforms in Lebanon have been repeatedly derailed by political and private interests over the last six years, but Salam and Lebanese President Joseph Aoun have pledged to prioritize them.

Business

Türkiye Says Russia Gave It $9 Billion in New Financing for Akkuyu Nuclear Plant

Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
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Türkiye Says Russia Gave It $9 Billion in New Financing for Akkuyu Nuclear Plant

Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)

Türkiye's energy minister said Russia had provided new financing worth $9 billion for the Akkuyu nuclear power plant being built by ​Moscow's state nuclear energy company Rosatom, adding Ankara expected the power plant to be operational in 2026.

Rosatom is building Türkiye's first nuclear power station at Akkuyu in the Mediterranean province of Mersin per a 2010 accord worth $20 billion. The plant was expected ‌to be operational ‌this year, but has been ‌delayed.

"This (financing) ⁠will ​most ‌likely be used in 2026-2027. There will be at least $4-5 billion from there for 2026 in terms of foreign financing," Alparslan Bayraktar told some local reporters at a briefing in Istanbul, according to a readout from his ministry.

He said ⁠Türkiye was in talks with South Korea, China, Russia, and ‌the United States on ‍nuclear projects in ‍the Sinop province and Thrace region, and added ‍Ankara wanted to receive "the most competitive offer".

Bayraktar said Türkiye wanted to generate nuclear power at home and aimed to provide clear figures on targets.

Business

China Bets on Advanced Technologies to Revive Tepid Industrial Sector

A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)
A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)
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China Bets on Advanced Technologies to Revive Tepid Industrial Sector

A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)
A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)

China pledged on Friday to double down on upgrading its manufacturing base and ​promised capital to fund efforts targeting technological breakthroughs, after its industrial sector delivered an underwhelming performance this year.

China's industry ministry expects output of large industrial companies to have increased 5.9% in 2025 compared with 2024, state broadcaster CCTV said on Friday, almost unchanged from the 5.8% pace in 2024.

It would also be less than the ‌6% pace ‌of the first 11 months of ‌2025, ⁠based ​on ‌data released by the National Bureau of Statistics, as a weak Chinese economy suppressed domestic demand.

Industrial output, which covers industrial firms with annual revenue of at least 20 million yuan ($2.85 million), recorded growth of 4.8% in November, the weakest monthly year-on-year rise since August 2024.

Chinese policymakers have been looking ⁠to create new growth drivers in the economy by focusing on advancing ‌its industrial sector.

China has also vowed stronger ‍efforts to achieve technological self-reliance ‍amid intensifying rivalry with the United States over dominance ‍in advanced technology.

At the annual two-day national industrial work conference in Beijing that ended on Friday, officials pledged to deliver major breakthroughs in building a "modern industrial system" anchored by advanced manufacturing.

The ​focus will be on sectors such as integrated circuits, low-altitude economy, aerospace and biomedicine, an industry ministry ⁠statement showed.

The statement comes after China launched on Friday a national venture capital fund aimed at guiding billions of dollars of capital into "key hard technologies" such as quantum technology and brain-computer interfaces.

On artificial intelligence, the industry ministry said it will expand efforts to help small and medium-sized enterprises adopt the technology, while fostering new intelligent agents and AI-native companies in key industries.

Officials also vowed to "firmly curb" deflationary price wars, dubbed "involution", referring to excessive and low-return competition among ‌firms that erodes profits.