The University of Agriculture Faisalabad (UAF) has established the Center of Islamic Finance.

FAISALABAD Aug 7: The University of Agriculture Faisalabad (UAF) has established the Center of Islamic Finance meant for scaling up Islamic financial literacy, producing quality human resource and entrepreneurs in the said financial system for a better tomorrow. The center worth Rs 2.5 million is set up in collaboration with Meezan Bank Limited at the Institute of Business Management Sciences and inaugurated by UAF Vice Chancellor Prof Dr Zulfiqar Ali and Meezan Bank Deputy Head Shariah Compliance Department Shayan Ahmad Baig. Meezan Bank GM Faisalabad Moazzam Saeed, Dean Social Sciences Dr Babar Shahbaz, Director IBMS Dr Abdul Ghafoor and all faculty members of the institute attended. The center was meant for training sessions, Degree programe on Islamic Finance and tangible research work. Addressing on the occasion, Dr Zulfiqar Ali said that the center will also assist in promoting the innovation, and technology commercialization with the help of Islamic financing. He added that Islamic financing has gained the immense popularity across the globe and we should reap its benefit for prosperity. He said that the university was housing Business Incubation Center and National Incubation Center that are producing the entrepreneurs and helping establish startup so that they can become job provider rather than job seekers. He urged the center to develop the financial model of the university as per Shariah Compliance. Shayan Ahmad Baig said that the country sets 2028 deadline for complete transition to Islamic banking. He said that under the center, trainings and other Islamic financial aspects will be promoted and this center emerge Model center of the region. He said that the Bank promotes the slogan of make Islamic Banking the first choice. He said that they had worked with IBA to pace up the said financial system. Dr Babar Shahbaz said that Islamic banking is a growing sector globally. He said Islamic financial literacy is essential for young entrepreneurs seeking business models. He added that the university is committed to equipping students with knowledge of both financial system. Dr Abdul Ghafoor said that Meezan Bank is the pioneering Islamic bank in the country. He said that the university in collaboration with Islamic Financial Institute will start new degree programs in the said field. He said that they are tacking all possible to produce trained men power. Dr Sahar Munir said that academia-industry linkages will pave a way for knowledge economy. She shed light on the Islamic financing system.