He was speaking at a seminar on "What is Islamic Banking and where does it stand", organised by Riphah Center of Islamic Business, a constituent institute of Riphah International University, Islamabad. The scholar highlighted the importance of Islamic business and finance particularly in the wake of present crisis in world economy where the banks dealing in Islamic banking successfully resisted the pressures on the business and finance.
Muhammad Ayub, who is also Director Research & Training of RCIB, said Riphah Center of Islamic Business (RCIB) is playing an active role in imparting education in Islamic Business and Finance as per teachings of The Holy Qura'an. Presently, a number of students of the RCIB are qualified Alam-e-Deen and after completing MBA programme at the center will be an asset for business concerns, industry and banking to run them on Islamic principles.
Vice Chancellor Riphah International University Professor Dr Anis Ahmed, in his remarks, said the seminar will help to explain the fact that Islamic principles of business and finance provide checks for all the factors that have corrupted the national and global economies and the finance.
He said these principles need to be adopted for the relief to the mankind. Islamic banking has become hallmark of today's financial world, he added. Khurram Khan, Director Co-ordination RCIB, presented vote of thanks for the speaker and distinguished participants from banks, industry and scholars and students from various institutions for participating in the seminar.
He said Riphah Center of Islamic Business (RCIB) has been established to meet the challenges of socially responsible and ethically inspired professionals, managers and leaders to improve the business world and to serve the Islamic business, banking and finance industries. RCIB is carrying out programmes in Islamic Business and Finance for PGD, MBA and MS leading to PhD degrees. The educational radio of Riphah International University FM 102.2 broadcast the proceeding of seminar live.