Islamic Banking is the right platform to boost ‘green financing’ as it is based on the concept of promoting good practices and values, a leading Indian banker in Qatar has said. R Seetharaman, the Chief Executive Officer of Doha Bank, said Islamic banking is not just a financial system, but is part of a total value-based social system that seeks to enhance the general welfare of society as a whole. Seetharaman was delivering the inaugural address at a seminar on Islamic economics, organised by the Indian Islamic Association Qatar (IIAQ), under the title, ‘Toward an Alternative Economy’.
“Sustainable environment development, developing water resources, facing global warming, ensuring women’s participation and promotion of small-scale enterprises are all part of green financing. This is clearly an area where Islamic Banking can play a pivotal role,” he was quoted by Gulf Times as saying. Seetharaman, however, noted that Islamic banking is currently in its infancy and faces several challenges and added that young people should be encouraged to take up these challenges to ensure this significant economic system carries through and plays a leading role in the current global financial stage.

 News: The Independent/ Bangladesh/ July-06-2011