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FAISALABAD, Aug 07 (APP): The University of Agriculture Faisalabad (UAF) has set up Center of Islamic Finance meant for scaling up Islamic financial literacy, producing quality human resource and entrepreneurs in the said financial system for a better tomorrow.
The center worth Rs 2.5 million has been set up in collaboration with Meezan Bank Limited
at the Institute of Business Management Sciences UAF.
UAF Vice Chancellor Prof Dr Zulfiqar Ali and Meezan Bank Deputy Head Shariah Compliance Department Shayan Baig inaugurated the center while Meezan Bank GM Faisalabad Moazzam Saeed, Dean Social Sciences Dr Babar Shahbaz, Director IBMS Dr Abdul Ghafoor and all faculty members of the institute were also present on the occasion.
Speaking on the occasion, Dr Zulfiqar Ali said the center would arrange training sessions
in addition to conducting tangible work on products with Islamic financing.
He said the center would also assist in promoting the innovation and technology commercialization with the help of Islamic financing.
He said that Islamic financing had gained the immense popularity across the globe and we should reap its benefit for prosperity.
He said the university was housing Business Incubation Center and National Incubation Center that were producing the entrepreneurs and helping establish start-up so that they could become job provider rather than job seekers.
He urged the center to develop the financial model of the university as per Shariah Compliance.
Shayan Baig said the country sets 2028 deadline for complete transition to Islamic banking.
Under the center, trainings and other Islamic financial aspects would be promoted and the
center emerge model center of the region, he added.
The bank promotes the slogan of make Islamic Banking the first choice, he said and added
that they had worked with IBA to pace up the said financial system.
Dr Babar Shahbaz said that Islamic banking is a growing sector globally.
He said Islamic financial literacy was essential for young entrepreneurs seeking business models.
He said the university was committed to equipping students with knowledge of Islamic financial system.
Dr Abdul Gafoor said that Meezan Bank was the pioneering Islamic bank in the country.
He said the university in collaboration with Islamic Financial Institute would start new degree programmes in the said field.
They were tacking all possible to produce trained men power, he added.
Dr Sehar Munir said that academia-industry linkages would pave a way for knowledge economy.
She also shed light on the Islamic financing system.