Interest dealings have played havoc in the world. Thousands of farmers are committing suicide in our country due to usury menace. People are committing suicide failing to repay the loan taken from banks and financers. Islamic banking is the only solution to save humanity from this dire situation. These views were expressed by Muhammad Imad Ali founder of Marifa Academy.
The young economist Muhammad Imad Ali resident of Basheer Bagh has done LLB from Osmania University; he completed master’s degree in Islamic Banking from International Islamic University of Malaysia. He served in the Islamic Banking department of a company of Islamic Development Bank, in Kuwait for two and a half years. Two years ago he established Marifa Academy to create awareness among public regarding Islamic Banking. He started online education of Islamic banking based on Shariah. People from around the world learn about Islamic banking through the website. Recently a book in Islamic financing and banking has also been downloaded on the website.
He hoped that India, where over 2 lakh farmers committed suicide during the past few years due to interest loans, would soon avail Islamic banking system.
Siasat news