HYDERABAD: Vice President Hyderabad Chamber of Small Traders & Small Industry (HCSTSI) and Convener of the Banking Affairs Committee, Shan Sehgal, attended the Islamic Banking Awareness Seminar organised by Meezan Bank in Hyderabad.
The event was attended by a large number of businesspersons, social figures, and representatives from the banking sector. During the seminar, Mufti Muhammad Naveed, Shariah Analyst (SME/Commercial and Investment Banking), elaborated on the principles, foundations, and distinguishing features of Islamic banking compared to the conventional interest-based system.
In his address, Mufti Muhammad Naveed stated that Islamic banking is a Shariah-compliant financial system based on the principles of the Holy Quran and Sunnah, which aims to promote interest-free transactions, equity-based investments, and fair distribution of Halal profits. He explained that Islamic banking operates on the principle of Profit and Loss Sharing, which is rooted in genuine trade and partnership rather than an interest-based structure.
He further described various Islamic banking modes such as Ijarah, Musharakah, and Mudarabah, highlighting that this system not only facilitates the business community but also plays a vital role in achieving economic stability and justice-based growth across the nation.
Speaking on the occasion, Shan Sehgal appreciated Meezan Bank’s initiative, saying: “Meezan Bank’s efforts in organizing Islamic Banking Awareness Seminars are truly commendable. Such programs are essential for educating the business community about the benefits of Shariah-compliant financing and represent a significant step towards the promotion of an Islamic economic system.”
He further emphasized that the Hyderabad Chamber is committed to strengthening its collaboration with the banking sector to ensure better access to Islamic financial facilities for small traders and industries.
Sehgal lauded Meezan Bank’s long-standing efforts, acknowledging that the bank’s nationwide awareness seminars, educational and research initiatives, and the establishment of its Knowledge Centre have significantly enhanced business community confidence in Islamic banking.
Copyright Business Recorder, 2025
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