Hidayah Academy Hosts Second Islamic Finance Conference: A Deep Dive into Halal Investing

By: Aziz Khatri

Karachi: Hidayah Academy recently held its Second Islamic Finance Conference 2025, a significant event that aimed to address the pressing question: "Is investing in the stock market halal?" This conference attracted a diverse audience, comprising scholars, bankers, business professionals, university and madrasa students, and representatives from various Islamic schools of thought, all seeking guidance on halal income sources.

The event commenced with insightful opening remarks delivered by Maulana Sheikh Azhar Iqbal, the founder and president of Hidayah Academy. Dr. Miftah Ismail, a former Federal Minister of Finance, provided a compelling overview of Islamic banking. He urged the government to foster venture capital and partnership models, introducing the concept of “working shares,” which would enable non-capital investors to make contributions through their efforts. Furthermore, Dr. Ismail proposed offering at least a 50% tax credit on zakat paid by registered institutions to encourage charitable donations.

Esteemed speakers such as Dr. Zeeshan Ahmed, Pro-Vice Chancellor of Al-Ghazali University; Imtiaz Ghadr, CEO of Al Meezan Investment; Mufti Imran Ashraf, Vice Chairman of the Shariah Supervisory Board at Meezan Bank; and Dr. Abdullah Zafar Sheikh, Dean of the School of Business Studies at IBA Karachi, emphasized that Islamic investment principles prioritize achieving lawful and ethical income rather than merely pursuing profit.

During the discussions, experts clarified that investing in shares is permissible, provided that the company adheres to Islamic principles by avoiding interest-based transactions or prohibited products while ensuring transparency in its operations. The need for clear regulations surrounding Islamic finance in Pakistan was highlighted, as these would aid investors in navigating a legitimate route to profits. The speakers collectively asserted that Shariah-compliant investments not only promote economic stability but also create numerous avenues for lawful income.

Attendees expressed their appreciation for the conference's scholarly yet practical approach, deeming it a vital resource for the public and investors alike. The event played a crucial role in advancing the discourse on Islamic finance in Pakistan, promoting awareness and understanding of halal investment opportunities.