Dated: Thursday, July 10, 2014
Mufti Muhammad Taqi Usmani, Vice President of Jamia Darul Uloom Karachi, has been awarded with the Islamic Banking and Finance award for promoting Islamic Banking by the Islamic Development Bank (IDB) based in Jeddah, Kingdom of Saudi Arabia.
The award was presented by the committee of governors ofInternational Development Bank (IDB) on 22nd June 2014 in the 39th Annual meeting of the IDB, in admiration of his professional and academic role in advancing Islamic Finance and Banking regionally and globally.
The IDB prize selection committee, comprising eminent scholars and experts from outside and within the bank, unanimously decided to award the prize to Mufti Muhammad Taqi Usmani during a meeting held at the IDB headquarters on April 10 in Jeddah. The selection committee conferred the prize on Mufti Muhammad Taqi Usmani “in recognition of the significant work he has undertaken for the implementation of Islamic finance.”
Mufti Muhammad Taqi Usmani had also taken part in an important ruling on usury during his career as a judge in the Shari’ah Appellate Tribunal of Pakistan, in addition to manifesting a global leadership role as an Islamic jurisprudence scholar, advising and supervising Islamic financial institutions in the Islamic world, Europe and the United States.
Mufti Muhammad Taqi Usmani was also chairman of the Shari’ah Standard Council at the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
The statement took note of “the impact of Mufti Muhammad Taqi Usmani’s writings in encouraging many to understand how to implement usury-free lives and his instrumental role in introducing Islamic finance within the curriculum of traditional religious institutions.
Vice-President of Jamia Darul Uloom Karachi, Mufti Muhammad Taqi Usmani has donated this award money to the constructional project of Hira Foundation School.
On the proclamation of this donation the director of Hira Foundation School,
Dr. Muhammad Imran Usmani, expressed his thanks and appreciated his great exertions for the development of Islamic education.
May Allah give in abundance to all who are joining hands for this great visionary project.
Ameen