Proposed CoE for Islamic economy at QAU supported

Islamabad:The School of Economics at Quaid-i-Azam University (QAU) organised the 2nd International Economics Conference with the theme of Islamic Social Finance and Economic Development.

Held on the university campus in collaboration with the Institute of Policy Studies (IPS), the event brought together noted scholars, practitioners, policymakers and academicians from across the country and abroad, who discussed the pivotal role of Islamic finance in fostering sustainable economic growth.

Dr Humayun Dar from the Cambridge Institute of Islamic Finance emphasised the relevance of Islamic Economics and Finance in modern times, pointing out that the conventional economic models are losing credibility due to their inherent weaknesses in the face of emerging global challenges. On the other hand, the focus is shifting fast towards sustainable and responsible consumption, which are the principles rooted deeply in Islamic teachings.

The expert also expressed his interest in supporting the establishment of the centre of excellence (CoE) for Islamic Economy at the QAU, pledging financial assistance for its development. Justice Dr Syed Muhammed Anwer of the Federal Shariat Court underscored the importance of Islamic social finance in today's world, advocating to the organisers to hold similar conferences on regular basis in a bid to foster the debates further in this critical area. He also welcomed the initiative to establish a dedicated centre of excellence for Islamic Economics, highlighting the role it can play in promoting academic and pr­actical research in the field.