Moot on Islamic Business held

Islamabad: Fourth Interna-tional Conference on Islamic Business (ICIB- 2016), organised by Riphah Center of Islamic Business (RCIB), a constituent institute of Riphah International University (RIU), opened at Quaid-e-Azam Auditorium of Islamic International University, Faisal Masjid Campus in Islamabad on Sunday. 

The theme of the two-day conference is 'Islamic Economics, Finance, and Entrepreneurial Development and Public Policy for the Ummah’s Socio-economic Wellbeing'. The Deputy Governor of State Bank of Pakistan Saeed Ahmad was the chief guest at the inaugural session.

While addressing the session, Saeed Ahmad said that such events are highly important given the evolving phase of Islamic finance industry. It is encouraging to see that Riphah International University has arranged the 4th International conference with product innovation, Maqasid-e-Shariah and financial inclusion as being central theme. “As the Islamic finance industry is maturing to the next level, it is highly important to increase its outreach to the strategic sectors like agriculture, small and medium enterprise, affordable and low cost housing and microfinance. It also required being more active in branchless banking and W-Wallet to advance the objective of enhancing financial inclusion,” he added.

A message from the Minister for Planning, Development and Reforms Ahsan Iqbal who is also the patron of the conference, was read out on the occasion. In his message he welcomed the guests and research paper presenters from within the country and abroad. He appreciated the leadership role played by Riphah International University as a pioneer academic institution in taking up a number of initiatives on the subject and in becoming a center of excellence for Islamic business and management sciences in the country.

 Justice (r) Khalil ur Rehman presented keynote address and shed light on theme of the conference. He said it addresses the socio economic development in terms of economic growth in finance in the light of Shariah. He inaugurated the book ‘Reflections on the Socio-Political Economy’ on the occasion. The book is authored by Mr. Arshad Ahmed Baig and Mr. Khurram Khan.

International Islamic University (IIU) Islamabad President Dr. Ahmad Yousif A. Al-Draiweesh, in his address, congratulated the organisers of the conference for their proactive approach in addressing contemporary challenges in the management of global economic & financial uses. He spoke at length about Shariah compliance in business & financial matters.

Earlier, the vice chancellor of Riphah International University Prof. Dr. Anis Ahmad, welcomed the participants of the conference. He hoped the event will help in drawing a strategy to resolve the problems being faced by the Ummah in various fields particularly in finance& business in the light of the teachings of the Holy Quran and Sunnah.