Islamic Banking Vital For Global Unjust Economic Distribution: Prof. Datuk

Islamic Banking vital for global unjust economic distribution: Prof. Datuk

KARACHI, (Pakistan Point News - APP -15th Sept,2016) : Islamic Banking is based on non-interest economy unlike the general banking that deals with interest based economy. This was stated by Malaysian professor Datuk Dr. Ahmed Moosa, while speaking at a seminar here. He said that Islamic countries are rapidly adopting Islamic banking moreover it gives halal profit. Western countries have also started adopting non interest based banking system that proves the viability of Islamic banking.

There is a dire need of professional training in order to introduce the Islamic banking and in this regard the services of Shaikh Zayed Islamic Center are commendable since its providing certificate courses, M.Phil. and Ph.D. in Islamic Banking. Dr. Ahmed Moosa from National University of politics and Law, Deputy Director INCEIF Prof. Dr. Usman and Director Shaikh Zayed Islamic Center Dr. Abida Perveen also spoke at a seminar on Islamic Banking organized at Shaikh Zayed Islamic Center University of Karachi.

Prof. Datuk termed Islamic banking pivotal for not only Muslim world but the whole world and added that it would address all the economic imbalances and unfair economic distribution in the world. He urged on following of Islamic teachings and added that Islamic banking must be promoted in line with the Islamic Sharia. Dr. Syed Ghazanfar, Incharge Islamic Banking program called for starting Ph.D. online program and faculty exchange program.