Imam Ahmad Raza’s Economic Theories Highlighted at Karachi Conference

Prominent judges, scholars, economists, and

bankers emphasized the importance of Imam’s

teachings for modern economic challenges

Staff Reporter

Karachi: The 44th Imam Ahmad Raza Conference 2024, centered on “Imam Ahmad Raza’s Role in the Formation of a Halal Economy,” was held at the Pearl Continental Hotel in Karachi. Organized by the Imam Ahmad Raza Research Institute, the event featured prominent judges, scholars, economists, and banking experts who emphasized the importance of Imam Ahmad Raza Khan’s teachings in addressing modern economic challenges.

Justice Syed Anwar Ali, Federal Shariat Court Judge, urged the inclusion of Imam Ahmad Raza’s books on economics in the curriculum of financial institutions, highlighting his groundbreaking contributions to halal economic systems.

Dr. Mufti Raghib Hussain Naeemi, Chairman of the Council of Islamic Ideology, lauded Imam Ahmad Raza as the first Muslim thinker to present a solid system of halal economic development. He stressed that ideas presented in Imam Ahmad Raza’s book, Kafl-ul-Faqih, continue to offer solutions for economic prosperity and can serve as a guideline for modern Islamic finance.

Governor Sindh Advocates for Interest-Free Economy

Governor Sindh Kamran Tessori highlighted that the solution to economic and banking challenges lies in Imam Ahmad Raza’s teachings. He emphasized the need for government institutions to adopt these teachings to pave the way for an Islamic economic revolution.

Prominent religious figure Maulana Muhammad Bashir Farooq Qadri stated that Imam Ahmad Raza’s economic theories provide a roadmap to eliminate interest-based systems. He urged Pakistani institutions to integrate these principles to achieve sustainable economic growth.

International and National Experts Join Forces

The conference attracted participation from leading national and international experts, including:

• Dr. Mufti Muhammad Abu Bakr Siddiqui, Islamic Banking Chair, ISLAC International Islamic University Islamabad
• Muhammad Jahanzeb Saeed, SVP, Dubai Islamic Bank
• Mufti Khawaja Noorul Hassan, RSBM, Habib Metropolitan Bank
• Javed Haider Hashmi, General Manager, Pakistan Stock Exchange

Speakers presented research papers on interest-free banking systems and halal economic practices. The conference also introduced five newly published books on Imam Ahmad Raza’s economic principles, distributed free to attendees.

A Vision for the Future

Professor Dr. Majidullah Qadri, President of the Imam Ahmad Raza Research Institute, declared Imam Ahmad Raza the pioneer of Islamic banking. He called on the State Bank of Pakistan and other institutions to explore his theories to advance interest-free banking and halal economic practices.

The event concluded with the distribution of commemorative shields and publications to participants, followed by prayers for the success of the initiatives inspired by Imam Ahmad Raza’s vision.