News Details

IRTI Lecture Discusses Role of ‘Maliki School’ in the Development of Islamic Finance
11/23/2016

Jeddah, KSA [23 November 2016] - The Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IsDB) Group has organized a public lecture to discuss the role of the Maliki School of Islamic Jurisprudence in the development of the contemporary Islamic finance industry.

The lecture, held at the IsDB headquarters in Jeddah, was delivered by Prof. Koutoub Moustapha Sano, Minister in the Presidency and Diplomatic Advisor to the President of the Republic of Guinea.

IRTI organized the lecture as part of its knowledge sharing sessions aimed to promote intellectual discourse on the Islamic finance industry, said IRTI Director General Prof. Mohamed Azmi Omar.

Delivering the lecture, Prof. Sano explained that the Maliki School as well as other Schools of Islamic Jurisprudence have played an important role in enhancing the quality of Islamic finance practices.

He said the scholars of Islamic jurisprudence left behind enormous treasure of useful knowledge, adequate to deal with all new issues arising in Islamic finance. However, he added, contemporary Islamic finance has not optimally utilized such wealth of knowledge to address burning issues in the industry.

Prof. Sano said the Maliki School has enormous potential to continue to contribute towards the development of Islamic finance, explaining that the "public interest" approach of the Maliki jurisprudential views formed the intellectual basis for many of today's Islamic financing modes.

Note to Editors:

The Islamic Research and Training Institute (IRTI) is a member of the Islamic Development Bank (IsDB) Group responsible for leading the development and sustenance of a dynamic and comprehensive Islamic financial services industry that supports socio-economic development in member countries. For media enquiries, please contact Mohamed Salat (msalat@isdb.org).

IRTI Lecture Discusses Role of ‘Maliki School’ in the Development of Islamic Finance