FAISALABAD: President Faisalabad Chamber of Commerce & Industry (FCCI) Ch. Muhammad Nawaz has said that Islamic Banking system is the most reliable and dependable system which can bridge this gap between ‘haves’ and haves-not’ in addition to catering to the entire banking needs of Muslim businessmen.
He was addressing to an Awareness Road Show on Islamic Banking and Takaful organized by Al-Huda Centre of Islamic Banking and Takaful held in FCCI.
He said that Riba is totally prohibited in Islam but a wide majority of Muslims are forced to indulge into it despite of their strong religious reservations. He said that Islamic banking is not a slogan to attract the business community or market their services but it is a complete ideology to promote and encourage an egalitarian society based on the eternal Islamic principles of economics and equality.
He quoted examples of various countries where more than 50 percent of businessmen have already switched over to the Islamic banking system. “It is a positive note that many non-Muslim countries are also adopting Islamic economic system only because of its economic and social benefits to the society”, he added.
He appreciated the management of Al-Huda for making painstaking efforts to educate the business community that there was a pure and complete chain of Islamic banking instruments based on Islamic principles.
Various speakers including Talat Mahmood, Umair Ali Sajid Manager Training Al-Huda and Muhammad Usman Ishaq BDM Allied Bank also delivered lectures on Riba and its prohibition, Islamic Economics, Islamic Banking and finance industry in Pakistan, Madarabah and Musharaka etc in Pakistan.
Later Mufti Raees Ahmed Sharia Adviser Al-Huda-CIBC presented a memento of Al-Huda to Chaudhary Muhammad Nawaz President FCCI.
Various banks dealing in Islamic banking system also set up their stalls during this road show.
