Modaraba Association of Pakistan (MAP) in collaboration with Al Huda Centre of Islamic Banking and Economics arranged a two days workshop on Islamic Finances here, in which a number of employees of modarabas participated. The purpose of the workshop was to give awareness to the participants about the new products recently approved by the Religious Board for modarabas.
Prominent speakers from Islamic Banking and Takaful including Mufti Najeeb Khan, Shariah Advisor, HMB Bank Limited, Mehmood Shafqat, Se. Jt. Director, Islamic Banking Department, State Bank of Pakistan, Dr Muhammad Zubair Usmani, Shariah Advisor, MCB Bank Limited, Captain Jamil Akhtar Khan, Chief Executive, Takaful Pakistan Limited and Hammad Rasool, delivered lectures on different topics of the Islamic Finances.
Inaugurating the workshop Muhammad Shoaib, Chairman, Modaraba Association of Pakistan said that it is historical event that after about 20 years, Religious Board for Modarabas approved new products which will definitely help the modaraba sector to grow. He said that this is an opportunity for the modarabas operating in Pakistan to fetch the share in Islamic financing from the market.
The chairman appreciated the support given by the Securities and Exchange Commission of Pakistan (SECP), particularly Bilal Rasul, Registrar Modaraba and his team, whose support made it possible to get the agreements approved. In the concluding session, Dr Muhammad Zubair Usmani distributed certificates to the participants and encouraged that this type of workshop should continue, as this will give a complete awareness to the modaraba sector.-PR
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