University of Management and Technology held its 1st National Conference on Islamic Banking and Finance at its premises. Renowned scholars, economists, researchers, and representatives of various Islamic institutions and banks participated in the conference and shared their knowledge with the audience. All the speakers highlighted the current boom of Islamic banking and its ever-increasing vitality.
According to the spokesperson of the UMT the speakers including Rector UMT Dr Hasan Sohaib Murad, CEO Akhuwat Dr Amjad Saqib, State Bank's Director of Islamic Banking department Ghual M Abbasi, Vice President Muslim Commercial Bank Mir Sajjad Rafiq commonly agreed that Islamic banking system is the need of the hour for entire world economy. They emphasised that the Government need to widen the Islamic banking system to 100% which is up to 10% at the present moment. Interest-free economy is the secret of prosperity and development, they said.
UMT while collaborating with the State Bank of Pakistan would prepare best scholars who would work for the promotion of Islamic Banking system, said Dr Hasan Sohaib Murad, Rector UMT. He added that Islamic banking and Islamic Micro Finance system is altogether a God-fearing attitude.