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ICIF launched special website on Islamic Finance
Saturday, May 29, 2010 11:38:41 AM, ummid.com Staff Reporter
Dr. Fazlur Rahman Faridi (in the middle) launching the website
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Malegaon: In order to create awareness about the interest free banking in India, New Delhi based Indian Centre for Islamic Finance (ICIF) launched a special website on Islamic Finance.
The website – www.icif.in was launched by Dr. Fazlur Rahman Faridi , Chairman, Indian Centre for Islamic Finance who expressed his appreciation on the work done on the website and hope that people in India and abroad will utilize this facility.
"The website would create awareness among the students, scholars and the regulators about the need and relevance of Islamic finance, which has emerged as a possible alternative after the financial Tsunami in the west", Dr. Faridi said in his inaugural address.
Dr. Faridi is one of the pioneer in the field of Islamic economics and finance in India. He had completed his Masters in Economics and Ph.D from Aligarh Muslim University. He was Professor in Economics in Aligarh Muslim University and King Abdul Azeez University, Jeddah, Saudi Arabia. He is also the chairman of Indian association for Islamic Economics. He has also guided most of the leading and prominent personalities in the field of the Islamic economics and finance.
Among the trustees of ICIF are Dr. Nejajatullah Siddiqui, King Faisal International Prize winner and pioneer of Interest Free banking in the world, Dr. Ausaf Ahmad, Janab Syed Mohammed Jafar, Dr. Rahmatullah, Dr. Shariq Nisar, Janab Syed Gulam Akbar, Dr. Obeidullah, Dr. Waquar Anwar, Janab K M Abdul Salam, Janab Noorullah Siddiqui and Janab Abdul Rasheed.
While introducing the website during the inaugural function, ICIF General Secretary H Abdur Raqeeb detailed the concept of Islamic finance and interest free banking and its feasibility in India.
“ICIF is striving to present Islamic economy and financial system as an alternative to the prevailing conventional system based on free trade and controlled economic systems", he said.
"It is on the one hand creating awareness among the masses how Islamic financial system is humane, based on ethics and beneficial to all segments of the society and more particularly the marginalized and unorganized sector", he added.
"Moreover", he said, "It is networking the individuals and institutions working in this field to collectively present before the regulators, businessmen and the political leaders to accommodate Islamic banking along with conventional banking. For that it has conducted several seminars, workshops and interactive sessions and proposes to produce literature in English and Hindi apart from Urdu to create awareness among the masses."
He asked, “If London Tokyo, Singapore, Hong Kong and Paris can become hub and house of Islamic Finance and Banking why not Mumbai?”
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