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8/3/2019 1. Islamic Banking in Pakistan
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Essentials of Islamic Finance IU Gulshan Campus, Slide # 1IUIQRA UNIVERSITY
Essentials of Islamic FinanceIQRA University Gulshan Campus. MBA, Fall 2011
IRSHAD AHMAD [email protected]
Course Introduction
mailto:[email protected]:[email protected] -
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Contents
Course Introduction: Purpose of the course and Targets to be achieved; Grading policy and genera guidelines;Islamic banking in Pakistan and its global scenario:
History of Islamic banking and recent local and international developments;Criticism and Future outlook: Current economic and financial system and Islamic guidelines on economic
affairs: Current economic and financial systems; Financial techniques and complexities; Myths and wrong understanding of issues and realities;Q and A
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Course Introduction:
Purpose of the course and Targets to be achieved; To create awareness and understanding of the course, its need, its theoriesand practical application;
Attendance policy: Attendance once marked and submitted to management can not be changed
and please do not waste your and my time on this issue; No leave on phone calls;Grading policy and genera guidelines; Mid term: 25;
Final term: 40; Quizzes: 10; Articles (individual): 05; Final presentation: 15; Class participation: 05;
Total: 100;
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Islamic banking in Pakistan and round the glob
History of Islamic banking and recent local and internationaldevelopments; First modern Islamic financial experiment in the world;
Hyderabad Duccan between 1930 ~ 1940;No exact history is available;
Egypt 1960:Dr Abdullah Najjar initiated MitGhamar Bank;Later on it has been merged in Nasir Social bank by Jamal Abdunnasir;
Gulf regeon:Dubai Islamic bank in 1974;
Islamic banking experiment in Pakistan:1980's legal framwork change in banking sectore by president Ziaul Haque;This experiment was a failure due to multiple reasons;
Role of Islamic Ideology Council;
1990's restart;
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Financial System and Islam
Current economic and financial system and Islamic guidelines oneconomic affairs: Based on pure logic without any intervention of religion; Many established rules have been broken;
Interest, immorality and liquor are Haram in every religion;
New non-religion based systems have been developed where deviation fromreligion especially Islam is evident;
Current economic and financial systems; Emergence of banks, exchanges and international institutions;
Financial techniques and complexities; Transformation from simple structure to complex;Myths and wrong understanding of issues and realities; Many wrong understanding about emerged and invented system;
Islam and current economic and financial systems;
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Why Islamic banking and finance?
What is Islamic?What is Shari'ah?
Is obedience to rules given by Islam essential?
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Groups and guidelines
Groups should be made;Announcement of CR;
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Questions?