Tag Archives: Islamic microfinance

IIUI Calls For Financial System According To Islam

IIUI Calls For Financial System According To Islam


Shahid | December 11, 2017 | category: Banking

IIUI Calls For Financial System According To Islam. International Islamic University, Islamabad (IIUI), President, Dr. Ahmed Yousif Al-Draiweesh Monday called the need to run financial system in lines with the Islamic teachings.
In his presidential address at the opening ceremony of a two-day international workshop on “enhancing poor’s capability and financial inclusion from Islamic perspective” commenced here at International Islamic University, Islamabad (IIUI), he said that economic disparity is a global issue and that is due to ribah and absence of Zakaat.
President IIUI called upon the Muslim world to stay united and include Islamic teachings in the prevailing economic system.

He said youth must be aware of the future challenges and they should have a limpid concept of equality of wealth and discouragement of ribah.
He stressed upon the Islamic economics’ researchers and exerts to devise a policy which must discuss sustainability of financial inclusion program, women empowerment in economics, role of Islamic banks and financial literacy.
Dr. Abd elrahman Elzahi ,a senior economist researcher at IRT/IDB said that Islamic economics and finance has contributed significantly in previous three decades across the world. He continued that the two day workshop was focused on Islamic financial inclusion to achieve sustainability. He said that experts in this workshop will make assessment of capability and access the full range Islamic financial service by users. He hailed the response IIUI had shown in joint venture with IRTI/IDB.
Dr. Atiq uz Zafar, Director General, IIIE told about the session of workshop and details of the research papers of the experts. He also apprised about the research activities and joint ventures with IRTI. Earlier,Dr. Khaliquz Zaman briefed about the schedule of conference.
A two-day international workshop on “enhancing poor’s capability and financial inclusion from Islamic perspective” in being organized at Faisal Masjid by International Institute of Islamic Economics (IIIE) of IIUI in collaboration with Islamic Research and Training Institute, Islamic Development Bank (IRTI/IDB), Jeddah, Saudi Arabia.
On the first day, experts from Brunei Daruslam, KSA, Indonesia, Algeria, Malaysia, Germany, Sarajevo and other countries discussed topics such as role of Islamic microfinance in socio economic development and Economic empowerment of women in three sessions.
Meanwhile, an intra- University Super colossal event of more than 50 competitions “SPECTRA-17” will kick off here at International Islamic University Islamabad (IIUI) here on today (Tuesday).
The event includes competitions in documentary, debates, Drama, sports, essay writing, calligraphy, Qiraat, Naat and many other competitions. The event is being organized by the students’ advisor office of the university which will commence with an inaugural ceremony here at male campus.

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