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More Innovative Ideas Needed to Promote Islamic Finance in India: H. Abdur Raqeeb

Radiance News Service

New Delhi, Nov. 10, 2023
Dr H. Abdur Raqeeb, General Secretary of Indian Center for Islamic Finance (ICIF) during an academic session on “Islamic Finance: Compatibility of Framework; An Analysis of Indian Financial System,” shared the History of Islamic Finance and Islamic Banking, struggle in India, the journey and the achievement so far and the challenges and limitations in India.

Dr Raqeeb, while addressing students of Department of Islamic Economics and Finance, Darul Huda Islamic University, Kerala at ICIF Headquarters here Monday explained in details about the concept of Islamic Finance, its viability, the progress made so far at all levels in various parts of the country. Through power point presentation, Dr Raqeeb tried to educate the students about Islamic Finance, its stages of development and the markets available for the concept of Islamic Finance and Islamic Banking and the challenges ahead, keeping in mind its scope and legal limitations.

Dr Javed Ahmad Khan, Chairman of ICIF, while addressing the audience, asked the students to work hard and remain focused on their goals. He also asked the students to come out with innovative ideas in order to explain to the Indian market its viability in the modern terminology.

Mohd Zabir, a student from Kerala, said, “I am pursuing Masters in Islamic Economics and Finance from Darul Huda Islamic University in Kerala. I have come here to meet with Raqeeb sb to know what ICIF is doing to promote Islamic Finance in India and what we can do more for the development of Islamic Finance.

The program was moderated by Dr Jafar Hudawi, HoD, Islamic Economics and Finance, Darul Huda.

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