'Insurance, the Gateway to Prosperity'

10 Nov, 2007

As mentioned in the Preface of the book, "it is a compilation of Chishti's writings over a number of years". In fact, it is a reproduction of his articles, published in the newspapers of Karachi during a period of four years - to be precise, from June 2003 to April 2007.
Chishti began his insurance career in 1947, just when Pakistan was emerging as a nation, and by 1970 had become Chief Executive of an insurance company. He took eagerly to journalism, both for national press and as a correspondent for Best's Review - USA.
Thus, it serves primarily as a text book for students of commerce and the academia in Pakistan's colleges as it contains Chishti's articles on the so-called Islamic Banking in Pakistan, or on the feasibility of avoiding 'Riba' (interest) in various kinds of transactions in this country or in any other Muslim country that is as keen as we
are to eliminate Riba in all its forms.
What I find more important than other topics dealt with in this compilation is the light thrown on the prevailing menace of vehicle snatching and cell phone thefts, which are day light robberies committed with impunity on the streets of Karachi (and to some degree in Lahore).
Another aspect, which has not received the due attention of civil society and the government of the day is the reluctance to introduce crop insurance in the rural hinterland where ignorance prevails and the farmers, big or small, do not cover the monetary risks of crop failure due to natural or man-made causes.
Chishti Saheb has pointed his finger at this failure of the government to protect the financial interests of the farming community by inducing them to insure cash crops like cotton and basmati rice.
In short, the book seeks to draw attention of all concerned to certain aspects, which call for serious consideration and action on the part of powers that be. Optimists hope the book will produce some ripples in the relevant quarters.

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