Institute of Hazrat Muhammad (SAM) organised Friday a seminar on 'Regulation and Performance of Islamic Banking in Bangladesh' at the BRAC Centre Inn Auditorium in the city to promote effective functioning of the Islamic banks in accordance with Shariah laws.
Professor Kabir Hassan of the University of New Orleans, the USA presented the keynote paper at the seminar.
Kabir Hassan is an economist with extensive consulting, research and teaching experiences in development finance, capital markets and corporate finance, said a press release.
The main objective of the keynote paper was to examine current legal and regulatory issues of the Islamic banking in Bangladesh.
In his paper, Kabir Hassan underscored the need for the Bangladeshi Islamic banks to find more standardised Shariah-based financial instruments and innovations competent with offerings of interest-based conventional banks.
He also said, Islamic banks should build their bank-customer relationship on economic rather than religious considerations.
President of the Institute M Nooruddin Khan, in his welcome address, urged Islamic scholars to be united for generating ideas and views for the development of the Islamic economy.