A Fiqh seminar was organized at Al Jamia Al Islamiya, sparking in-depth discussions on emerging opportunities in the economic sector aimed at the holistic development of Muslims in societies like India, where Muslims constitute a minority. The academic seminar was held as part of the 70th Anniversary Proclamation Conference of Al Jamia Al Islamiya, Santhapuram.
The seminar focused on Islamic perspectives on financial transactions in societies like India, where Muslims live as a minority community. Deliberations examined the Islamic feasibility of, and Muslim engagement with, various modern financial domains, including contemporary modes of exchange and trade, investment methods and debt management, insurance practices, and transactions involving Bitcoin and other cryptocurrencies.
The event featured an inaugural session, two academic paper presentation sessions, and a concluding panel discussion.
Inaugural Session
The seminar commenced at 9:00 a.m. and was inaugurated by Mufti Umar Abideen Qasimi Madani, Deputy Director of Ma’had al-Islami, Hyderabad. V. K. Ali Bavutti, President of Ittihadul Ulama, delivered the presidential address, while Dr. Abdussalam Ahmed, Rector of Al Jamia Al Islamiya, presented the keynote address.
The session opened with a Qur’an recitation by Ibrahim Shabandari, followed by a welcome address by Shafi Shabandari (Head, Department of Fiqh, Al Jamia Al Islamiya). The inaugural session concluded with a vote of thanks proposed by Abdurahman P. Y.
Academic Presentations
During the academic presentation sessions, prominent scholars from across India presented research papers on several critical themes related to contemporary Islamic finance. Dr. Muhiyuddin Ghazi examined Microfinance: Sharīʿah Perspectives and the Indian Legal Framework, while Dr. Ilyas Moulavi addressed Contemporary Jurisprudential (Fiqh) Issues in Trade and Commerce. Mufti Amin Mahe discussed Modern Trends in Interest-Based Economies: Strategies and Stances for the Muslim Community. Shameel Sajjad explored Equity and Stocks: Sharīʿah-Compliant Potentials, and Mohammed Shafi Shahbandari presented a paper on Insurance: Theoretical Foundations and Practical Applications.
Students’ Colloquium
A Students’ Colloquium was held under the chairmanship of Sameer Kalikavu, a faculty member of Al Jamia Al Islamiya. Students representing various campuses presented papers on specialized themes, including housing loans from conventional banks, cryptocurrency trading, contractual obligations within secular legal systems, Islamic investment funds, rental agreement laws in India, and the practical potential of Islamic insurance.
Panel Discussion
The final session featured an engaging panel discussion chaired by Dr. Abdul Hafeez Nadwi. The panel—comprising Mufti Amin Mahe, Dr. Ilyas Moulavi, K. M. Ashraf, Sameer Kalikavu, and Shameel Sajjad—responded to audience queries and shared broader perspectives on contemporary financial dealings.
The seminar, guided by eminent scholars, provided valuable insights into how Indian Muslims can constructively contribute to nation-building and the strengthening of the country’s economy while remaining faithful to their religious principles, despite the challenges of living as a minority.
Fiqh Seminar Opens New Vistas for Economic Development
