Director’s Message

 

الحمد لله وكفى، والصلاة والسلام على محمد المصطفى، وعلى آله النجباء، وأصحابه الأتقياء، ومن بهديهم اهتدى، وبآثارهم اقتفى، من المفسرین والمحدثین والفقهاء إلى يوم الجزاء، أما بعد:

Economy is the backbone of the modern society and banking is a vital need for establishing an effective economic system. In the case of Afghanistan, different economic systems have operated throughout the history however, these systems were not Shari‘ah compliant, and promoted, or at least tolerated, Riba (usury), Gharar (uncertainty), and other norms that Shari‘ah proscribes; thus they did not obtain legitimacy in the eyes of Afghan nation. Following the triumph of the Islamic Emirate of Afghanistan (IEA), it is opportune time to Islamize the economy and the financial sector to meet the vision and mission of the IEA and provide Shari‘ah based services to the people, replacing the usurious system that prevailed in Afghanistan.

To facilitate accomplishment of the said task, Research Center for Islamic Banking and contemporary issues (RCIBCI) is established, under the auspices of Afghanistan Sciences Academy (ASA), by virtue of the Decree No. 15, dated "16/ 05/ 1443 AH" issued by the Prime Minister (Raees Al-Wuzara).

This is a heavy task, nevertheless, we are committed to utilize the best international practices and learn from experiences of other jurisdictions and select those that best suits the needs of Afghanistan market. The research conducted in this field and in cause of Islamization of the banking and financial sector over the past decades is rich and remains primary reference for us. Notwithstanding, we have trust in technical members of the RCIBCI to undertake this task and provide solutions to the sector and people that will be both market-friendly and Shari‘ah compliant.

We are committed to achieve these objectives and serve to implement Islamic law in every aspect of our life.

وما توفیقي إلا بالله عليه توكلت وإليه أنيب

 

Mufti Abu Saeed al Rashid

Director of Research Center for Islamic Banking and Contemporary Issues (RCIBCI)