Punjab University Hailey College of Commerce in collaboration with State Bank of Pakistan organized an awareness session on Islamic Banking & Finance at its seminar hall. On this occasion, PU Vice Chancellor Professor Dr Zafar Mueen Nasir, Dean Faculty of Commerce and Principal College Dr Hassan Mobeen Alam, Chief Manager SPB BSC Javaid Ahmad Bhatti, Deputy Chief Manager Huma Mahmood Bukhari, Divisional Head Product Development MCB Arshad Hussain Zubari, Head of Sharia Compliant MCB Islamic Mufiti Syed Sabri Hussain, faculty members, students and a large number of people from diverse fields were present.
Arshad Hussain Zubari and Mufiti Syed Sabri Hussain shared that Islamic Banking in financial system based on the principles of no charging interest, which is prohibited under Islam. The speakers highlighted the difference between Islamic & conventional banking in the light of Quran and Hadees.
The speakers also gave important information about Islamic Banking contracts, Sharia compliance growth of Islamic banking in Pakistan and role of SBP for Islamic Banking promotion. Later on, in question and answer session, students and business community have cleared their ambiguities regarding Islamic and conventional banking. Certificates were also distributed among the participants.
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