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Imperative to Understand Islamic Banking Fully – Muktadir – The News June 11, 2007

Posted by islamicfinanceaffairs in Uncategorized.
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Islamic banking course begins

It is imperative to understand Islamic banking fully with due emphasis on all aspects and segments of the banking to ensure the Islamic Banking meets all pre-requisite conditions of Shariah, Managing Director, NIBAF, Kazi Abdul Muktadir said here Monday.

Inaugurating the 8th Islamic Banking Certificate Course, organized by
the National Institute of Banking and Finance (NIBAF), he said the
holistic approach in this regard can help the bankers to make the
system fully Islamic and convenient for bankers as well as their
clients.

He also gave a brief overview of the role of NIBAF –
the training arm of the State Bank of Pakistan – in capacity building,
training and development of human resources for the Islamic banking
industry.

The inaugural ceremony was attended, among others,
by Irshad Ahmad Ijaz, a Shariah scholar and an advisor on Islamic
banking. Muktadir stressed upon the participants to pursue the course
with a commitment to understand and render Islamic banking services as
required under the Shariah.

He asked the participants to develop
requisite expertise in all aspects of the Islamic banking so that it
could grow in its true sense in order to meet the demand of the general
public. The three-week course is being offered to the personnel of
Islamic banks and the Islamic banking branches of existing banks to
strengthen and build conceptual capability.

The course
contents, inter alia, cover Shariah principles with respect to Islamic
banking, various modes of financing and their accounting treatment;
risk management; treasury concepts including Sukuk and Islamic Real
Estate Investment Trust and alternative instruments and products
development etc.

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