The launch opened with an official Welcome by the CEO of 786 Investments Limited, Ms. Tara Uzra Dawood, who thanked the participants for their support, stating, “We are humbled to gather with you today on this auspicious occasion which marks 24 months – two years – of Dawood Income Fund being the top performing income fund in Pakistan. We are also very excited to have with us leading Islamic banker and thought leader Harris Irfan, all the way from the UK, joining us and sharing cutting-edge thought on cryptocurrency, digital currencies and the future of finance, and in particular shariah finance.”
Chief Guest, Harris Irfan said, “Both shariah-finance and cryptocurrency are much debated among bankers. It’s important that we encourage dialogue between practitioners and scholars in order to adapt to cutting edge financial concepts and technology.”
Mufti Irshad Ahmad Aijaz advised caution, “Crytocurrency is not regulated at the moment so we should wait to give opinions until some regulatory framework comes into place.”
An intense panel discussion ensued with Mufti Irshad Ahmad Aijaz, Farrukh Rehman (Partner, Fergusons) and Faraz Bandukda (CEO, Al Hilal Shariah Advisors), joining Mr. Irfan in answering key questions of the history and future of shariah finance, Pakistan’s role in taking this industry forward, as well as what cryptocurrencies as well as other digital currencies will mean for shariah finance.
Spotted at the full house gathering were leading CEOs Aftab Diwan (CDC), Ahsan Mehanti (Arif Habib), Faisal Ahmed (Artistic Denim), leading high net worth investors, artists Amin Gulgee and Jimmy Engineer, diplomats Consul General of Bangladesh – Noor e Helal Saifur Rehman, Consul General of Iran – Ahmad Mohammadi, Honorary Consul General of Morocco – Charmaine Hidayatullah, as well as Economic Consulars Yoko (Japanese Consulate) and Umair Mumtaz (US Consulate).