Dr Abdul Qadeer stresses implementation of islamic values in banking and finance

ISLAMABAD: Renowned Nuclear scientist Dr Abdul Qadeer Khan on Thursday called upon Muslim societies to implement Islamic values and teachings in banking and finance.

He was addressing to 6th International Applied Business Research Conference organized by Faculty of Managements Sciences of International Islamic University Islamabad (IIUI), here at Faisal Masjid campus.

The conference is an attempt to bring together innovative academics, research scholars, and industrial experts across the world for exchange of knowledge and research collaborations.

Dr Abdul Qadir Khan expressed his concerns over the increasing penetration of usury in the global economy.

He urged for further improvement in educational system of country and maintained that higher educational institutions must provide international level criteria in the field of engineering specially.

He said that Management Sciences graduates must have power of decision and its graduate must be nurtured as a practical individual because it was a pre-requisite to be a successful manager, entrepreneur.

Dr Masoom Yasinzai, Rector IIUI, in his speech said that research without any impact on society was a “null and void” effort.

He said that management schools along with the country’s leadership would have to devise a comprehensive strategy to work as per relevance to the societal needs.

He said that 16 thousand research papers from the country in reputed impact factor journals would be of no use if they do not have links to the roots of society.

Dr Masoom furthered that out 56 million Pakistani youth, only 1.5 million had access to the universities which he said was an inadequate ratio adding that “we must put rest of them on right track by bringing them to the higher education institutions”.

Dr Ahmed Yousif Al-Draiweesh, President IIUI said on the occasion that Muslim world would have to focus on contemporary requirements and advancements of the banking and finance.

He urged the youth to apply Islamic values in degrees and take guidance from Islam in practical lives.

He appreciated Dr Abdul Qadeer and said that he was proud of Muslim Ummah.

Dr Al-Draiweesh also apprised the participants about role of university in various disciplines dialogues, forums and conferences.

Earlier, Dr Zulfiqar Ali Shah in his vote of thanks told about the meeting of the advisory board of the faculty being held on the sidelines of two day moot, and briefed about the objectives of the conference.

The conference would conclude on Friday with recommendations made by national and international scholars, experts and academicians.