The Department of Islamic Finance and Banking at the College of Islamic Sciences, University of Baghdad, organized a series of scientific, cultural, and artistic activities in celebration of the International Entrepreneurship Week. A panel discussion titled ‘Consultative Sessions on the Important Functions of Islamic Banks’ was conducted. The event was attended by the head of the Department of Finance and Banking, Dr. Sanaa Alawi, and several faculty members. The objective of this session was to deepen the participants’ understanding of various types of financial transactions adopted by Islamic banks in financing. The focus was on explaining the Shariah principles associated with each type, as well as the risks faced by the banks. The session witnessed a significant attendance of department faculty, college staff, and students. During the session, several financial and Sharia consultations were discussed regarding the operations of Islamic banks, which are executed as investment activities and serve as alternatives to interest-based services in conventional banks. These include Murabahah, Ijarah, Ijarahends in owning, Ijarah described by trust, Salm sell, Making, speculation, and sharing. The attendees, in turn, emphasized the necessity of understanding the Sharia principles governing financial transactions in Islamic banks. In response, the speakers in the session addressed all queries and provided religious rulings, substantiating their responses with verses from the Quran.
Additionally, the Finance Department inaugurated an exhibition of scientific products and handicrafts as part of the college curriculum for the Global Entrepreneurship Week. The exhibition featured displays of books authored by department professors, in addition to a diverse array of artistic and handmade works. The department also hosted a cultural competition today in literary, scientific, and artistic fields for students, as part of the college’s commitment to encouraging student participation in local and international competitions. This support aims to help students discover and develop their creativity and talents to achieve excellence.
To conclude the events, inspirational success stories were shared about department students, narrating tales of success and thepinnacle of determination in the face of adversity.
