‘Islamic Banking & Finance’ book launched at Kashmir University

Srinagar

Reiterating the need for introducing Islamic banking in Kashmir, Kashmir civil society and academics on Tuesday said during a book launch function at Kashmir University said that financial institutions, including J&K Bank, should kick start the alternative banking in Jammu and Kashmir.

Speaking at the launch of ‘Islamic Banking & Finance’, a compilation of essays on the alternative forms of banking including Islamic banking, finance, skuk, takafuletc, and its relevance in present day Kashmir and the world, by author and columnist MehboobMakhdoomi, speakers stressed on the need for such form of banking.

These speakers also stressed on the introduction of academic courses on Islamic banking.

Makhdoomi while introducing his book said the International Monetary Fund and the World Bank have designated Islamic Banking as priority areas. “Such is the growth that in countries such as Malaysia bulk of investors and investments in Islamic banking are those of non-Muslims,” Makhdoomi said.

VC Kashmir University, Khurshid Iqbal Andrabi said various finance related academic courses in KU already include Islamic banking and said there is great scope for extending this curriculum.

Reviewing the book, civil society member and chartered accountant Abdul Majid Zargar said the book covering the concept of insurance is worth appreciation. “The concepts explained in frequently asked question section helps to bring more lucidity to the book,” Zargar said. Columnist DrJavid Iqbal who also reviewed the book said “although the book is a series of essays but has a continuity which is remarkable”.

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