Religious Advisor Professor Dr. A. F. M. Khalid Hossain said that Shariah banking works for the welfare of the underprivileged people of the society through systems like Zakat, Sadaqah and Waqf. It plays an important role in alleviating poverty and eliminating income inequality.
He said these things while speaking as the chief guest at a seminar titled “Institute of Islamic Banking, Finance and Economics” at the United International University in Badda, Dhaka on Saturday (March 15, 2025) morning.
The Religious Advisor said that currently Islamic banking is becoming popular not only in Muslim countries but also in various countries including the UK, USA, Malaysia and the United Arab Emirates. It is also considered a reliable and profitable banking system internationally. 1.8 trillion dollars worth of transactions are made in this system worldwide.
Dr. Khalid Hossain said, Islamic finance is a fair and ethical economic system, which deals with profit and loss instead of interest. It is not only for Muslims, but anyone can be part of a fair and transparent economic system.
The program was chaired by United International University Vice Chancellor Prof. Dr. Abul Kashem Mia and welcomed by Institute Director Prof. Dr. Muhammad Umar Farooq. Among others, Prof. Dr. Gias Uddin Talukder and Central Sharia Board Fellows Forum President Muhammad Abdullah Sharif spoke.
Earlier, the religious advisor unveiled the plaque of the newly built Institute of Finance, Banking and Economics building.
