Islamic University's Chancellor Dr. Mohamed Shaheem Ali Saeed has urged in identifying academic solutions to the challenges faced in Islamic Financing.
During the inauguration of the global symposium on Islamic Awareness at the University, Chancellor Dr. Shaheem highlighted the trade and financial benefits of implementing an Islamic Banking system along with other components like Hajj management, Zakat management and Altaf management among other financial related aspects.
Dr. Shaheem also noted the involvement of Center for Research and Development of Islamic University of Maldives (IUM). Adding that the institution funds for academic researches conducted to identify the scope and possibility of implementing a profiting Islamic Financing system.
The IUM's Chancellor also noted the opportunities introduced by the institute about Islamic Financing - highlighting a specific library enacted which provides information on the subject. In addition to this, an online library system is under works while courses ranging from foundation to Masters in Finance were initiated in the institute.
Economic Minister Mohamed Saeed, who spoke during the inaugural ceremony spoke about the importance of Islamic Financing and he stressed the ministry's efforts to aid the financial system. He also noted the prime challenge for a country like Maldives is the financial system's status.
The two day symposium which kickstarted on Saturday has UK, Turkey, Jordan, Malaysia, Japan, Palestine and Egypt alongside Maldives presenting their research and academic papers. The symposium has more than 300 participants in total.
