Shantapuram: ‘Islamic Economic System aims at Social Justice and dignified life’, opined Eminent Economist and King Shah Faisal Awardee, Dr. Muhammed Nejatullah Siddiqui at the One Week Course on Islamic Economics, Banking and Finance organized by Students Islamic Organisation of India (SIO) from 16th – 22nd March 2012 at Al-Jamia Al-Islamia, Shantapuram, Kerala.

Dr. Nejatullah Siddiqui was delivering the Chief Mentor’s Address during the Convocation Session from the USA via video conference being the Chief Advisor to the Course. H. Abdur Raqeeb, General Secretary, Indian Centre for Islamic Finance (ICIF), New Delhi while sharing his experiences as part of the efforts to introduce alternative economics and banking system in India, advised the student to take up the cause seriously to be able to deliver the demands of the country. Mohd. Azharuddin, President, SIO delivering the Presidential Address emphasized SIO’s commitment to the larger goals of reconstructing the society to bring justice and equality amongst the masses.

Earlier during the Course, Dr. Nejatullah also delivered on the topics ‘Global Financial Crisis and Role of Islamic Economic System’ and ‘The stand of Islamic Movements on key economic issues of our time’. Among other prominent resource persons were Dr. Mudassir Siddiqi, Shariah Panel Member of Auditing & Accounting Organisations of Islamic Financial Institutions (AAOIFI) and a consultant to the World Bank and IMF. He delivered on the topics ‘Islamic Banking Practices, History of Islamic Banking’ and ‘Islamic Banking and Finance in India: Developments, Challenges and Opportunities’. Dr. Shariq Nisar, Director, Taqwaa Advisory and Shariah investment Solutions (P) Ltd (TASIS) discussed in details ‘Capital market – Islamic perspective’ and ‘Regulation of Insurance, Mutual fund, NBFC in Islamic Finance’.
Mufti Abdul Kadir Barkatullah, renowned UK Based Shariah Scholar and Advisor elaborated to the participants about ‘Role of Shariah Advisory Boards in Islamic Financial Institutions’ and ‘Various Legislations across the World on Islamic Finance’. Former academician and well Economics scholar, Dr. MI Bagsiraj addressed the participants on ‘Critical analysis of the causes for the downfall of Islamic Finance institutions in India since last 60 years’.
Saleem Maulavi, Senior Faculty at Al-Jamia Al-Islamia, Shantapuram addressed the students on ‘Islamic Laws of Inheritance: An Economic Perspective’. Dr. Mohd. Shahjahan Nadvi, another faculty member at Al-Jamia Al-Islamia spoke and elaborated on ‘The Role of Zakah and Awqaf: Issues in Performance Measurement and Accountability’. CA KM Thaqiyudheen dealt with ‘Islamic Accounting Practices’ where as Muhammed Palath addressed on ‘Objective and Target of International Financial Institutions and Islamic Institutions in the World Economy’ and ‘Economic Development: Different Models and Policies (Contemporary and Islamic)’. Dr. KK Mohammed dealt with ‘Modern Banking System: Objective, Concept, Legal and Regulatory Issues’ and Dr. CP Shaheed Ramzan interacted on the topics ‘Concept of Islamic Economics and Financial Systems’ and ‘Public Finance in Islam’.
The course had begun with the Inaugural Address by PM Salih, General Secretary, SIO and a discourse by Inayatullah Subhani eminent Islamic Scholar and Dean, Faculty of Quran, Al-Jamia Al-Islamia on the topic ‘Economics Teachings in Quran and Hadith’.

The Course was organized in collaboration with Indian Centre for Islamic Finance (ICIF), New Delhi and was hosted by AL-Jamia Al-Islamia, Shantapuram, Kerala.