“Islamic Banking need to further improve by following the Shariah model”

Islamabad, 31 January 2017: PIMA Islamabad organized a seminar on “Practical Implications of Islamic Banking, Finance and Investment” at Islamic International University on Sunday. Renowned economist and Chairman Institute of Policy Studies Prof. Khursheed Ahmad was the chief guest of the occasion. He said that the world is in grip of social and financial system of the world and we need alternate forums. He said that Islamic Banking system need to further improve by following the Shariah model.

Seminar was attended by PIMA Central President Dr. Abdul Malik, PIMA Islamabad President Dr. Saeedullah Sah and professionals from different fields. Dr AtiquzZafar (HOD Islamic Banking and Finance IIUI), Mr Zulqarnain Haider (Manager up-Country, Products Development &Shariah Compliance Meezan Bank), Mr. Anwar Hussain (senior manager Islamic Banking Habib Bank) were among the other guest speakers.

Prof. Khursheed Ahmad said that Holy Prophet (Peace be Upon Him) has taught us amicably how to do business and use finances. He said that effort was being made to introduce Islam banking system to avoid ‘Riba’. “Introduction of Islamic financing in Pakistan since 1974 has been a much wanted step” he said. However, there is a need to bring drastic improvement in it. He also highlighted life insurance related issues in his keynote address.

“Introduction of Islamic Banking” was the topic of Dr. Atiquzaffar. He stressed to support Islamic Banking system in Pakistan.

Mr. Anwar Hussain presented his analysis on the self destructiveness of western banking system in the seminar. He said that the western banking system is facing various challenges due to number of implications, adding that Islamic banking is one of the best way forwards.

Mr. Zulqarnain Haider presented his analysis on the up-coming Islamic Banking, Finances, Philosophy, Products and Practices local and global perspective.


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