Sheikh Dr. Ali Al-Qaradaghi, the Secretary-General of the International Union of Muslim Scholars, participated in the 9th Doha Conference on Islamic Finance on Tuesday, where the topic of "Islamic Finance and the Challenges of Web 3.0" was discussed.
The conference discussions focused on Islamic finance in the metaverse world, regulatory and supervisory technology in Islamic finance, cross-border financing, and sustainability in digital finance.
During a special meeting with the media on the sidelines of the conference, Sheikh Ali Al-Qaradaghi spoke about the concept of Web 3.0 and explained that it represents the next generation of the technological revolution in the internet world, which enhances decentralization in data exchange.
He pointed out that the effects of this revolution have begun to appear through the blockchain technology, cryptocurrencies, and artificial intelligence applications. Sheikh Al-Qaradaghi added that this will lead to huge changes in all environments, including the environment of da'wah, finance, and business.
In his speech during the conference, Sheikh Al-Qaradaghi explained how to benefit from the metaverse world and the ways in which it can be used to serve Islamic banks, insurance companies, and Islamic da'wah institutions.
He also pointed out that there are significant risks associated with the new virtual world, such as the problem of governance and the absence of legal regulations that govern this world. He noted that Islam has the ability to solve these problems by relying on Sharia and contractual rules, which reflects the greatness of Islam.
It is worth mentioning that the 9th Doha Conference on Islamic Finance is one of the most important global forums for Islamic finance, aimed at exchanging experiences and knowledge and stimulating innovation in the field of Islamic finance.
Source: Al-Ittihad.