Centre for Islamic Economics

Centre for Islamic Economics (CIE) was founded on 22nd Safar 1413 i.e. 22nd August 1992 within the premises of Masjid-e-Baitul Mukarram Block 8, Gulshan-e-Iqbal Karachi. As an initial step the centre established a Daru-Ifta in order to reply qeries of general public pertaining to economic issues in particular and other issues in general. By August 1997, Darul Ifta had given written answers to about 1000 problems and issues. The questions asked were pertaining to trade related issues and other concerns as well. In addition to this, on average 15 replies are given daily, on telephone and in face to face meetings. Jamia Darul Uloom Karachi also conducted a course regarding “Ulema’s awareness of modern needs and issues in the society” in collaboration with Daraul-Ifta. Approximately 40 Ulema, one of which came from Faisalabad, attended the program. Maulana Justice Mufti Mohammed Taqi Usmani gave lectures in presence of Dr. Arshad Zaman, a proficient economist, and syed Mohammed Hussain, an adept chartered accountant. A number of other courses were also held to impart the knowledge about Shari’ah Rulings to traders and financial experts. Initially a two-day course was held on 10th and 11th of September 1993. This program highlighted the basic rulings about all-monetary concerns and economic scenarios. Around 140 people, belonging to different fields, not only participated in this event but also appreciated it a lot. For those people, who came to know about this later, the two-day course was revised in the month of October 1993. Very nearly, 140 people attended this program as well.