‘Well prepared HR, knowledge base must for Islamic banking’

KU holds extension lecture on Shariah compliant investments, businesses

AUQIB SALAM
Srinagar, Publish Date: Nov 20 2018 1:14AM | Updated Date: Nov 20 2018 1:14AM
‘Well prepared HR, knowledge base must for Islamic banking’File Photo

To make Islamic banking and finances thrive in the country, creation of a knowledge base and a well prepared human resource is the prerequisite, experts said on Monday.     

“To exploit the Islamic banking and finance market, which is expanding throughout world and has also huge scope within country, the need of exposing young generation about Shariah compliant ethical businesses is need of the hour,” said Shariq Nisar, a renowned scholar of Islamic banking and finance in South Asia.

Shariq, a former Harvard visiting fellow and professor of Rizvi Institute of Management and Research Studies Mumbai, was speaking at an extension lecture on ‘Shariah Compliant in Capital Market and Islamic Banking and Finance’ at University of Kashmir on Monday. 

The lecture was organised by KU’s Department of Commerce in collaboration with Sharekhan, one of the largest capital market brokerage firms of the country. Later on Shariq heled a workshop on Islamic Banking and Finance with the scholar of commerce, economics and management studies of the university. 

“In order to have a hold on Islamic banking, we have to create a knowledge base which can be used later to exploit the sizable Shariah compliant business. Unless we have a well prepared human resource, we cannot thrive in this sector like majority of Muslim and non Muslim countries are doing,” said Nisar.

Nisar gave an insight on Islamic finances through the purification of conventional banking so that a large section of Muslims who abstain from capital investment market can be included through Islamic banking.

He  also talked on methodologies of purification of banking, insurance and capital market so that there will be a healthy flow of investment from Muslim population who otherwise keeps from such investments citing interest based investment which Islam disallows .

Stress was also given on the Indian Islamic finance and its strengths and opportunities. He also dwelled upon the reasons due to which capital market has failed to attract Muslim money and seek to pave the way of a Shariah compliant system that will allow Muslims to invest.

He also dwelled upon Shariah screening methodologies that are adopted in most of the Muslim countries like Saudi Arabia, Qatar, Malaysia, Pakistan and others.

The event was followed by a question answer session. 

“The purpose of the workshop is to make sure that Kashmir University takes a lead in creating a knowledge base for Islamic banking which can kick off Islamic banking in the state and in the whole country in coming time,” said convenor of the programme, Prof Mohammad Shafi of Commerce Department. 

Irshad Mushtaq, founder of MI Securities and Srinagar partner of the Sharekhan, held an interactive session with the students and scholars about the investment in Shariah compliant mutual funds and ethical businesses.

Latest News

  1. Omar questions PM Modi's 'silence' over violence against Kashmiris
  2. Omar questions PM Modi's 'silence' over violence against Kashmiris
  1. JK Bank announces new dates for probationary officer and banking associate exams
  2. JK Bank announces new dates for probationary officer and banking associate exams
  1. ICPS establishes help desk for abandoned, unwanted babies at Lal Ded hospital
  2. ICPS establishes help desk for abandoned, unwanted babies at Lal Ded hospital
  1. Winter vacations in Kashmir colleges extended up to Feb 22
  2. Winter vacations in Kashmir colleges extended up to Feb 22
  1. Two Kashmiri shawl vendors attacked on train: Police
  2. Two Kashmiri shawl vendors attacked on train: Police
  1. NIA registers case in Pulwama attack case
  2. NIA registers case in Pulwama attack case
  1. Shutdown called in Chenab Valley tomorrow against Jammu arson
  2. Shutdown called in Chenab Valley tomorrow against Jammu arson
  1. Khurshid Shah to hold additional charge of secretary PHE, Irrigation and Flood Control and DMRRR
  2. Khurshid Shah to hold additional charge of secretary PHE, Irrigation and Flood Control and DMRRR
  1. Missing Kashmir girl traced in Jammu after five days: Police
  2. Missing Kashmir girl traced in Jammu after five days: Police
  1. Jammu and Kashmir govt orders second reshuffle in administration in two days; check list here
  2. Jammu and Kashmir govt orders second reshuffle in administration in two days; check list here
  1. NIA releases money seized from Srinagar businessman in 2017
  2. NIA releases money seized from Srinagar businessman in 2017
  1. Pakistani prisoner allegedly murdered in Jaipur central jail
  2. Pakistani prisoner allegedly murdered in Jaipur central jail
  1. Kashmiris will always uphold their tradition of ensuring safety to outsiders at all costs: Mirwaiz
  2. Kashmiris will always uphold their tradition of ensuring safety to outsiders at all costs: Mirwaiz
  1. Pakistan government spokesperson's personal Twitter account suspended
  2. Pakistan government spokesperson's personal Twitter account suspended
  1. Agra hotels put up notice: ‘Kashmiris not allowed to stay’
  2. Agra hotels put up notice: ‘Kashmiris not allowed to stay’
  1. PDP delegation visits Uttarakhand, says 'satisfied' over safety of Kashmiri students
  2. PDP delegation visits Uttarakhand, says 'satisfied' over safety of Kashmiri students
  1. Mob accosts, beats up Kashmir shawl trader in West Bengal
  2. Mob accosts, beats up Kashmir shawl trader in West Bengal
  1. Seven Kashmiri students suspended by pvt university in Uttarakhand for social media posts
  2. Seven Kashmiri students suspended by pvt university in Uttarakhand for social media posts
  1. Curfew relaxed in entire Jammu city
  2. Curfew relaxed in entire Jammu city
  1. In purported audio clip, Hizb chief Riyaz Naikoo warns of more Pulwama like attacks in Kashmir
  2. In purported audio clip, Hizb chief Riyaz Naikoo warns of more Pulwama like attacks in Kashmir
  1. SC holds Anil Ambani, others guilty of contempt; says 3 months jail if dues not paid to Ericsson
  2. SC holds Anil Ambani, others guilty of contempt; says 3 months jail if dues not paid to Ericsson
  1. Kejriwal asks PM Modi to grant full statehood to Delhi
  2. Kejriwal asks PM Modi to grant full statehood to Delhi
  1. Ex village head in Maharashtra held for 'objectionable' remarks on Pulwama attack
  2. Ex village head in Maharashtra held for 'objectionable' remarks on Pulwama attack
  1. UN asks for escorts for military observers in Kashmir after Pakistan flag incident
  2. UN asks for escorts for military observers in Kashmir after Pakistan flag incident
  1. Secretary PHE Farooq Shah opts for voluntary retirement
  2. Secretary PHE Farooq Shah opts for voluntary retirement
  1. Pulwama attack: UN urges India, Pakistan to defuse tensions
  2. Pulwama attack: UN urges India, Pakistan to defuse tensions
  1. Curfew relaxed in Jammu district for three hours
  2. Curfew relaxed in Jammu district for three hours
  1. Landslides halt traffic on Srinagar-Jammu highway
  2. Landslides halt traffic on Srinagar-Jammu highway
x
This site uses cookies to deliver our services and to show you relevant news and ads. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Service.That's Fine