ISLAMABAD — According to Hanafi scholars, Zakat funds cannot be directly used to purchase machinery for hospitals unless the ownership is transferred to a rightful Zakat beneficiary. The principle of tamlīk, or granting ownership, is essential for the proper distribution of Zakat, and using Zakat solely for general welfare without establishing ownership is not considered […]
Islamic finance
Pak-Qatar Takaful IPO enters book-building phase
KARACHI: The initial public offering (IPO) of Pak-Qatar General Takaful Limited (PQGTL) entered its two-day book-building phase on Wednesday, a key step toward its listing on the Pakistan Stock Exchange (PSX). Bidding is scheduled to continue until Thursday, according to the prospectus released by Arif Habib Limited. Read More: Pak–Qatar Family Takaful Limited listed on PSX PQGTL, a […]
TFS’ second day centres on geo-politics, leadership and Islamic finance
The Future Summit (TFS) 9th Edition continued its second day in Karachi with a forward-looking agenda centered on geo-politics, sustainability, responsible leadership, and financial transformation. Following a high-energy opening day focused on economic course-correction, institutional renewal, and technology-led growth, Day Two deepened the debate around long-term value creation with discussions on geo-political strategy, climate economy, […]
BankIslami, NCCPL join hands to expand Islamic finance
BankIslami has signed a Memorandum of Understanding (MoU) with the National Clearing Company of Pakistan Limited (NCCPL) to strengthen the presence of Islamic finance in the country’s capital markets. This collaboration aims to introduce innovative, Shariah-compliant financial solutions, creating new opportunities for investors seeking Riba-free financial solutions. This partnership combines BankIslami’s expertise in Islamic finance […]
Branding Islam: The birth of Islamic Laissez-Faire
Since the dawn of political Islam in the 20th century, a new political confrontation came into the colonial discourse along with other revolutionary ideologies. Perhaps, 20th century can be regarded as the most subjective epoch of human history because the civilizations had fought two great wars in the name of human realm. But the with […]