FSIB working to implement economic ideology of Prophet Muhammad (SW): Chairman

A discussion mahfil on the "Economic Ideology of the Prophet Muhammad (SW)" was held at the First Security Islami Bank PLC (FSIB) Head Office on Monday (September 16) to mark the birthday of the Prophet Muhammad (SW). The event was conducted via a digital platform and streamed live on social media, says a press release.

Abdul Mannan, Chairman of FSIB, was the Chief Guest at the programme. In his address, Mannan emphasised that FSIB plays a significant role in the country's socio-economic development by adhering to the economic principles of Prophet Muhammad (SW). He encouraged over 1,000 bank officials who participated in the event to work diligently towards creating a balanced and compassionate society by promoting equitable wealth distribution and reducing economic disparities.

Mannan directed the bank officials to invest locally collected deposits within their respective regions, adhering to the principles of distributive justice in Islamic economics, to address regional investment imbalances.

The discussion also featured insights from other speakers who highlighted various aspects of the Prophet Muhammad’s (SW) economic philosophy. They stressed the importance of implementing his economic teachings within the financial sector to foster a discrimination-free and compassionate society. The speakers praised the Islamic banking system for its alignment with Quranic teachings and the Prophet’s philosophy, noting its growing international recognition. They encouraged customers to utilise FSIB’s Shariah-compliant and technologically advanced banking services.

The programme was presided over by Syed Waseque Md Ali, Managing Director of FSIB, and included contributions from the Bank's Board of Directors, Additional Managing Directors, Deputy Managing Directors, and other executives. Maulana M Shamaoun Ali, Member Secretary of the Shariah Council, conducted the closing munajat for the gathering.