UMT - BS and MS Islamic Banking and Finance

TOWARDS A JUST MONETARY SYSTEM IN PAKISTAN

At a time when economies are struggling with rising debt, persistent inflation, and widening inequality, Khurshid Ahmad Institute of Islamic Economics & Finance (KAIIEF) at UMT is pleased to present a timely and solution-oriented webinar on "Breaking the Trap of Debt, Inflation, Interest & Poverty : Replacing Fractional-Reserve Banking with Full-Reserve Money"

More importantly, it presents a practical and implementable alternative—a full-reserve, interest-free economic framework designed to

• Break systemic dependence on debt and riba
• Address inflation at its structural roots
• Restore financial stability and economic justice
• Enable sustainable, employment-driven growth

This webinar will present a critical examination of the existing interest-based, fractional-reserve system and its structural consequences.

A detailed, Pakistan-focused study shows how this model can break the cycle of public debt, fiscal deficits, inflation, and economic instability. This webinar will show a strategic blueprint for meaningful economic reform aligned with ethical Islamic principles.

Join the MS Team Meeting either with QR Code in flyer or by following link

https://teams.microsoft.com/meet/45495223404452?p=bGrokutSPkcI6L4pkZ

Join meeting on Teams

TOWARDS A JUST MONETARY SYSTEM IN PAKISTAN

At a time when economies are struggling with rising debt, persistent inflation, and widening inequality, Khurshid Ahmad Institute of Islamic Economics & Finance (KAIIEF) at UMT is pleased to present a timely and solution-oriented webinar on "Breaking the Trap of Debt, Inflation, Interest & Poverty : Replacing Fractional-Reserve Banking with Full-Reserve Money"

More importantly, it presents a practical and implementable alternative—a full-reserve, interest-free economic framework designed to

• Break systemic dependence on debt and riba
• Address inflation at its structural roots
• Restore financial stability and economic justice
• Enable sustainable, employment-driven growth

This webinar will present a critical examination of the existing interest-based, fractional-reserve system and its structural consequences.

A detailed, Pakistan-focused study shows how this model can break the cycle of public debt, fiscal deficits, inflation, and economic instability. This webinar will show a strategic blueprint for meaningful economic reform aligned with ethical Islamic principles.

Join the MS Team Meeting either with QR Code in flyer or by following link

https://teams.microsoft.com/meet/45495223404452?p=bGrokutSPkcI6L4pkZ

The 6th Global Forum on Islamic Economics, Finance and Banking (IEFB 2026), organized by the Khurshid Ahmad Institute of Islamic Economics and Finance (KAIIEF) at the University of Management and Technology (UMT), Lahore, concluded successfully after two days of intensive academic dialogue, policy discussions, and global collaboration.
Held on April 17–18, 2026, under the theme “Transitioning from Conventional to Islamic Banks: Best Global Practices and the Way Forward in Pakistan.” The forum brought together leading scholars, policymakers, industry practitioners, and researchers from across the world.

**Research Contributions and Tracks**

A total of **70"* research papers were presented across eight specialized academic tracks, reflecting the growing depth and diversity of Islamic finance research globally. The tracks detail is as follow:

• Regulatory & Banking Framework

• Strategic & Regulatory Dimension

• Financial & Operational Transformation

• Technological & Innovation Perspective

• Economic & Social Implications

• Academic & Research Insights

• Islamic Social Finance & Maqasid al-Shariah

• Shariah Governance & Compliance

These presentations covered critical themes such as Islamic digital banking, fintech innovations, Shariah governance, financial inclusion, sustainability, and macroeconomic impacts of a riba-free financial system.

**Key Highlights**

The forum featured High-level panel discussions on regulatory frameworks, financial transformation, and socioeconomic impacts

**Prof. Khurshid Ahmad** Memorial Session honoring his intellectual legacy
• Specialized workshops on **Shariah Audit in the Digital Age** and **Islamic Fintech Masterclass**

Distinguished speakers from countries including Malaysia, Indonesia, Turkey, Canada, the UK, Bosnia, and the UAE contributed to the dialogue, reinforcing the global relevance of Islamic finance.

**Inagural Session**

The inaugural session was the most important segment of the program. Prime Minister of Malaysia H.E. Mr. **Anwar Ibrahim** recorded message was played in it which caters the attraction of audience. Founder UMT **Dr. Hasan Murad** Speech to 1st Global Forum also played in it. **Sardar Muhammad Yousaf** Federal Minister for Religious Affairs the chief guest of this event. Other keynote speakers were **Mr. Ghulam Muhammad Abbasi** Executive Director Islamic Banking SBP, **Mr. Zaki Ejaz** Chairman FPCCI. **Mr. Imtiaz Haider** Commissioner SECP. President UMT **Mr. Ibrahim Hasan Murad** concluded the session with her speech. After it **Mr. Qanit Khalil Ullah** Author of Book “Breaking the Trap of Debt, Inflation, Interest and Poverty” Presented his book to Mr. Ibrahim Murad & Sardar Muhammad Yousaf.

**International Intellectuals Participation**

**In Person**

Prof. Dr. **Zafar Kayani** ,Professor of Economics, Trent University Canada.

Dr. **Umer Barki** ,Professor, South-East University, Norway

Prof. Dr. **Norma Md Saad** ,Director Centre for Islamic Economics, International Islamic University, Malaysia

Dr. **Shahran Kasim**, International Institute of Islamic Thought (IIIT), USA

Prof. Dr. **Khairunnisa Musari** , Senior Specialist for Islamic Finance of United Nations Development Programme (UNDP) Indonesia

Prof. Dr. **Aliyu Dahiru Muhammad**, Deputy Vice Chancellor, International Open University, Gambia

**Online**

Prof. **Mehmet Bulut**, Advisor to President Turkiye Recep Tayeb Erdogan

Prof. Dr. **Aslam Haneef**, Deputy Vice Chancellor IIUM

**Omar Mustafa Ansari** Secretary General AAOIFI

Prof. Dr. **Kabir Hasan*, New Orleans University USA

Prof. Dr. **Mehmet Asutay**, Director Durham Center of Islamic Finance UK

Prof. Dr. **Nasim Shirazi** HKBU Qatar

**Institute of Policy Studied** Islamabad, **AlHuda Center of Islamic Banking and Economics"* & **Trent University** Canada Stalls were also glorifies this event.

**Strategic Importance**

The forum emphasized practical pathways for transitioning from conventional to Islamic banking systems, aligning with global calls for ethical, inclusive, and resilient financial models. Discussions also highlighted Pakistan’s strategic position in leading this transformation.

**Conclusion**

IEFB 2026 successfully served as a global platform for advancing research, strengthening international collaboration, and shaping policy discourse in Islamic economics and finance. The strong participation and high-quality research presentations underscore the increasing momentum toward a more equitable and Shariah-compliant financial system worldwide.

KAIIEF - UMT Organized Global Forum

Come and Join the Inaugural session

Professor Dr. Khairulnisa Mossori - Indonesian delivered a lecture on " Islamic Banking Practices in Indonesia" at KAIIEF, UMT

UMT students, it’s time to power your academic journey with the CM Punjab High-Performance Laptop Program – Phase I. If you meet the eligibility criteria, don’t miss your chance to equip yourself with the that drives , , and .
Last date to apply: February 28, 2026.

Meeting with Mr. Zargham, CEO and President of MCB
Professor Dr Asghar Zaidi ( Provost UMT) , Prof. Dr Toseef Azid (Director KAIIEF, UMT)
and
Prof. Dr Muhammad Mahmood Shah Khan (Advisor MS / PhD Islamic Banking and Finance, UMT) Represented the "KAIIEF UMT.

Admission Open

" Learn to Lead the Ethical Finance"

Admission open Fall 2021
MS/PhD Islamic Banking and Finance



Contact
Whatsapp : 0345-4587230