LCCI organises awareness session on Islamic Banking and Finance

By Farzana Chaudhry, Lahore Pakistan
LAHORE: The Lahore Chamber of Commerce and Industry organised an awareness session on Islamic Banking and Finance aimed at educating the business community, industrialists, and traders about the Islamic financial system, interest-free banking, and Shariah-compliant business practices.
The chief guest of the session was Hussain Mohi-ud-Din Qadri. The event was attended by LCCI President Faheem Ur Rehman Saigol, Senior Vice President Tanveer Ahmad Sheikh, former President Mian Anjum Nisar, former Vice President Tahir Manzoor Chaudhry, Khurram Nawaz Gandapur, Executive Committee members, banking professionals, economists, business leaders, and representatives of various trade bodies.
Addressing the participants, LCCI President Faheem Ur Rehman Saigol said that the chamber is taking continuous steps to raise awareness among the business community regarding modern economic trends and Islamic finance. He said Islamic banking is not only aligned with religious principles but also provides a foundation for a stable and ethical economic system.
In his keynote address, Prof. Dr. Hussain Mohi-ud-Din Qadri said that the Islamic economic system is not merely an alternative but a complete, fair, and sustainable financial model that promotes stability, transparency, and social justice. He said that in view of global economic challenges, the importance of Islamic banking and interest-free finance has significantly increased.
He added that Islam promotes trade, honesty, and economic balance, while interest-based systems can lead to inequality and exploitation. He urged the business community to adopt Islamic financial principles and use Shariah-compliant instruments for the stability and growth of the national economy.
He also highlighted key Islamic banking models such as Mudarabah, Musharakah, and other Shariah-compliant financial instruments, saying that Islamic financial institutions are fully capable of meeting the needs of the business sector. He stressed that awareness and training are essential for understanding the benefits of the Islamic financial system.
The session concluded with a question-and-answer segment in which participants raised queries regarding Islamic banking and financial matters, which were addressed in detail by the experts.