Seminar on “Islamic Banking System and Interest (Riba)”

A seminar on “Islamic Banking System and Interest (Riba)” was organized by the Faculty of Law on 7th June 2022. Professor Hafiz Muhammad Ibrahim Sheikh from the Faculty of Arts and Social Sciences, UCP, was invited as a guest speaker. While referring to the injunctions of the Quran, the honourable guest elaborated on various aspects of Riba. He further emphasized different modes which could be employed to restrain the use of Riba and the consequential exploitation it causes. Later, other elements of the Islamic banking system and their role in minimizing the use of Riba in financial transactions were discussed. Finally, the session concluded with detailed questions and answers and a vote of thanks to the guest.