Recently, University of Management and Technology held its 1st National Conference on Islamic Banking and Finance at its campus.The conference was attended by renowned scholars, economists, researchers, and representatives of various Islamic institutions and banks who shared their views and experiences regarding the importance of Islamic Banking and Finance in Islam with reference to Pakistan.
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All the speakers highlighted the current boom of Islamic banking and its ever-increasing vitality. The speakers included Rector UMT Dr Hasan Sohaib Murad, CEO Akhuwat Dr Amjad Saqib, State Bank’s Director of Islamic Banking Department Mr Ghual M Abbasi and Vice President Muslim Commercial Bank Mir Sajjad Rafiq.
The speakers shared a common stance that Islamic Banking System is the need of an hour for entire world economy. They also emphasized that the government needs to widen the Islamic banking system to 100% which is up to 10% at the present moment. They also highlighted that interest-free economy is the secret of prosperity and development.
Dr Hasan Sohaib Murad, Rector UMT, specifically pointed out that UMT in collaboration with the State Bank of Pakistan would prepare best scholars who would work for the promotion of Islamic Banking system, said. He added that Islamic banking and Islamic Micro Finance system inculcate a God-fearing attitude among people.
A number of research papers were also presented in the conference that highlighted the growing importance of Islamic Banking System and its implementation in the current scenario.
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