New Delhi: Professor Emeritus Dato’ Dr. Azmi Omar, President and CEO of INCEIF University, Malaysia, released a book titled Mohammad Nejatullah Siddiqi: Life and Contributions to Islamic Economics during a virtual book release program hosted by the Institute of Objective Studies (IOS) on Saturday evening.
The book is a compilation of papers presented at a two-day International Conference organised by IOS in April 2024, focusing on Professor Siddiqi’s remarkable contributions to Islamic Economics. The conference brought together scholars from across the country, and the collected articles were compiled into the book which is edited by Dr. Javed Ahmed Khan, Chairman of ICIF.
Speaking at the program, Dr. Azmi Omar highlighted the enduring relevance of Professor Siddiqi’s ideas, stating, “In today’s world, marked by economic inequality and moral crises, Siddiqi’s theories offer a beacon of hope. His legacy underscores the profound importance of Islamic principles in addressing modern challenges. As the founder of modern Islamic economics, he will always be remembered for his scholarly contributions and unwavering dedication to building a better world.”
Dato Iqbal Ahmed Khan, CEO of Fajr Capital Group, Dubai, UAE, reflected on his personal connection with Professor Siddiqi, recounting their shared days at Aligarh Muslim University.
He said, “Professor Siddiqi often discussed Islamic economics even during his student days at Aligarh. In 1975, during India’s Emergency, Professor Siddiqi was among the intellectuals imprisoned for their beliefs. My father, Iftikhar Ahmed Khan Rahmatullah, strongly supported him during this difficult time.”
Joining from the United States, Prof. Ahmadullah Siddiqi, professor Emeritus of Journalism and Public Relations, Western Illinois University USA emphasised Professor Siddiqi’s intellectual versatility, particularly his expertise in economics. He recalled attending discussions at Uncle Siddiqi’s home, where various issues, including Islamic economics, were deliberated. He praised the establishment of an Economic Research Centre in Aligarh as one of Professor Siddiqi’s notable achievements.
Professor Abdul Azim Islahi, former PhD student under Professor Siddiqi’s supervision, highlighted Professor Siddiqi’s deep understanding of Islamic banking and his advocacy for a non-profit economic system, noting its relevance in today’s context.
Dr. Aftab Alam, Head of the Department of Economics, Abida Inamdar Senior College of Arts, Science and Commerce, Pune emphasised that Professor Siddiqi presented the Islamic Economic Model as a timely and essential alternative to conventional systems.
In his presidential address, Prof. M Afzal Wani, Chairman of IOS, described Professor Siddiqi as a visionary scholar whose work bridged Islamic jurisprudence and modern economic theories.
“His contributions laid a solid theoretical foundation for Islamic economics. A comprehensive, non-profit economic system based on his ideas could eradicate poverty and ensure fair trade and wealth distribution if implemented,” he said.
The program started with the welcome address by the Secretary General (IOS) Mohammad Alam welcoming the guests and introducing the institute, while Professor Haseena conducted the program seamlessly and delivered vote of thanks.
