UMT holds third Global Forum on Islamic Economics

LAHORE: Speakers, researchers, religious scholars and experts from around the world came out with the latest research and fresh ideas on Islamic economics in the third Global Forum on Islamic Economics, Banking and Finance organized by the School of Islamic Banking at University of Management and Technology (UMT) Lahore.

Islamic economic system, said the speakers is the future of world economy because of its closeness to the human nature and that it offers interest-free banking way of earning livelihood and prospering likewise.

They said it is baseless to say that Islam does not address today’s financial meltdown where poverty and unemployment rate is increasing with a fastest speed and vulnerable diseases are posing a serious threat to nations around the globe-all this was the result of staying away from the natural economic system, which is nonetheless other than Islam; a complete code of life.

Chairman Higher Education Commission Prof. Dr. Nizam-ud-Din appreciated UMT management for organizing such a wonderful moot. He said much research needs to be carried out on Islam’s economic system and that how it could be beneficial for the world.

Chairman UMT, Dr. Hasan Sohaib Murad who has widely spoken on the subject in a number of national and international forums, said that curiosity in taking up Islam’s interest-free banking system is on rise as many institutions and universities in the western world especially in Europe and America are conducting the research on Islamic economic system.**