Malaysian banking experts visit IIUI
By Ali Imran

ISLAMABAD—A two member delegation of the International Centre for Education in Islamic Finance (INCEIF), Malaysia, visited the International Islamic University Islamabad (IIUI) to discuss sharing of resources and expertise between the two organizations for Islamization of banking and finance sectors.
The delegation comprised of Agil Naat, Chief Executive INCEIF and Ms. Mazidah Malik, Head, Marketing and Communications INCEIF. Dr. Asad Zaman, Director General, International Institute of Islamic Economics (IIIE) received the delegation at the new campus of IIUI while
Prof. Dr. Munawwar Iqbal, Dean, School of Islamic Banking and Finance (SOIBAF) briefed the delegation about the study programmes offered by SOIBAF and its academic activities. Mr. Khaliquzzaman, Head, Department of Islamic Banking and Finance and Dr. Nasim Shah Sherazi, Director Research IIIE were also present on this occasion. Briefing the delegation about IIIE, Dr. Iqbal said that it is one of the pioneering institutions in Islamic economics, banking and finance that has own the Islamic Development Bank best performance award in the year 2000.
He added that IIIE has the advantage of having a combination of scholars of Fiqh, law, economics and banking and finance at the same time. The Institute provides academic, training and research facilities and produces more than a hundred graduates a year who are employed in leading financial institution of the country and the world over. He informed the delegation that the Institute regularly arranges professional training and orientation programmes for senior officials of the national banking sectors and the ministry of finance.
On this occasion, Mr. Agil Naat appreciated the work and standard of IIIE and took keen interest in its learning, especially distance learning facilities and said that objectives of the two institutions supplement each other and their should be enhanced cooperation and coordination between the two. He added that Islamic banking is growing in double digit and graduates of Islamic University with a firm understanding of Shariah are direly needed by the banking sectors. He warned that it will be declared the failure of Islamic economics and finance if the experiences of Islamization of banking suffered due to lack of bankers with Shariah understanding.
Mr. Naat said that banks needs no particular disciplines of studies but simple graduates and the graduates of Shariah must join banking sector that is not only the cry of the hour but one of the best careers a graduate can join. Both the parties agreed to join hands for promotion of Islamic banking and launching new products computable with modern banking and Shariah at the same time. Further interaction between the academic institution of Islamic economics and banking industry was stressed and it was agreed to draft a Memorandum of Understanding between IIIE and INCEIF for coordinated programmes to produce graduates who should have compact knowledge of Sharah and critical approach towards modern banking at the same time.