Monday 7 May 2012

Islamic Principles on Business, Banking & Finance

Islamic principles on business, banking and finance constitute one of the most confused branches of shariah knowledge in the modern world. This is aggravated by the fact that many who write and speak on this subject are doing so from a perspective other than Islam. For instance, many of the proponents of Islamic banking and finance are actually non-Muslims. These include top finance professionals as well as researchers in prestigious universities like Cambridge (see article).

Regardless of what others say about Islamic finance and what their motives may be, we as Muslims must be clear about what the Islamic principles are on business, banking and finance. Moreover, this should not be limited to knowing the shariah rulings but also how these rulings fit within the wider ethics, objectives and principles of Islam. The forthcoming seminar, "Islamic Banking & Finance - A Myth or A Reality?" takes a fresh look at this branch of shariah knowledge, including the fundamentals - its foundations, principles and applications in everyday life, and also a comparative look in light of this at prevalent banking and finance practices, both Islamic and conventional. This is a seminar which is relevant and essential not only for scholars, students, finance professionals and businesspeople but for any one of us who is involved in even everyday matters of finance

This is the first seminar of its kind by one of the leading western Islamic scholars and researchers - Shaykh Dr Mohammed Akram Nadwi of The Oxford Centre for Islamic Studies, Oxford University and Tarek El Diwany, author of The Problem With Interest and contributing editor of Islamic Banking and Finance: What It Is and What It Could Be.

Islamic Finance & Banking - A Myth or A Reality?

By Shaykh Dr Mohammed Akram Nadwi
and Tarek El-Diwany

When: Saturday 19th May 2012     Time: 10AM - 7PM

Venue: Cambridge University


"Jazakumullah khair for the efforts of the MEOC for arranging these blessed gatherings of knowledge. The seminars I've attended so far have several elements that make them very special, starting from the choice of topics themselves which cater to the more profound needs of the people rather than addressing some superficial issues that seem to be more fashionable today. Even the content of the seminars and the manner of teaching by Shaikh Akram Nadwi are directly focussed towards developing a deeper understanding of these issues. In these seminars, one gets a glimpse of the years of learning that have gone into the brilliant scholarship of Shaikh Nadwi. Furthermore his knowledge seems to be blessed by an acute understanding of the needs of the Ummah. The seminar on the 'Legacy of Ibrahim (a.s.)' was exceptionally beautiful, wherein, the Shaikh in his own words confessed that he was attempting to transmit, not knowledge, but the state of his heart, to the others present. While the knowledge and the insight that one gains into the Qur'an, the Sunnah and the history of Muslims through these seminars is invaluable, I personally feel that these sessions are more than just one-day courses. I am inclined to call them gatherings of Remembrance of Allah, and we all know the blessings of such gatherings!" - Mohini Verma, PhD Student, Cambridge University

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Islamic Banking & Finance - A Myth or A Reality?

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