THE Nigeria Association of Teachers of Arabic and Islamic Studies (NATAIS) has emphasised the need for the Federal Government to invest more in human capital development infrastructural facilities to revolutionise economic productivity.
NATAIS president, Professor Musa Abdu-Raheem, stated this on Tuesday at the University of Ibadan at the opening of the 40th annual international conference of the association and the launch of the body’s publications.
The theme of the conference, where some Muslim personalities were honoured with merit and fellowship awards of the association, was ‘Global Financial Policy and Economic Development: Arabic and Islamic Studies Perspective’.
The lead paper presenters were Professor Moshood Baderin of the School of Law, University of London and Professor Ahmad Dogarawa of the Department of Accounting, Ahmadu Bello University, Zaria.
Professor Abdu-Raheem said: “At this time of gross deficit in social amenities such as good roads, electricity, education at all levels and social and food security, the emphasis should be less on white elephant projects at the expense of deliberate and determined financial policies to reduce poverty and accelerate economic and social development.
“This is not the time for policies that result in capital flight in procuring luxury goods like automobiles, particularly when the roads are as bad as they are at present.”
He, however, commended state governors, “Including our chief host, Mr Seyi Makinde, who embark on massive road construction, rehabilitation and maintenance,” adding that “such projects go a long way to improve the quality of the life of the citizens and drive the economy.”
According to him, there is the need to pay better attention to education as a whole as universities and research institutes require more than the review of the salaries of lecturers and administrators to function optimally.
While thanking the Federal Government for stopping the demand for part of the internally generated revenues of universities, Professor Abdu-Raheem said efforts should be intensified to create an enabling environment for scholarship, research and professional practice in all disciplines, especially medicine.
The keynote speaker, former Managing Director of Jaiz Bank, Alhaji Hasan Usman, underlined the principle of fairness and justice in economic dealings which he said lies at the heart of the Islamic financial system.
He averred: “As the world navigates through an era of unprecedented economic challenges and transformative changes, the significance of alternative financial systems that promote ethical, inclusive and sustainable growth cannot be overstated.
“The principles embedded within the Islamic financial system offer valuable insights and perspectives for shaping a more resilient and equitable global financial landscape.”
According to Usman, the foundation of the Islamic financial system “is rooted in shari’ah principles, emphasising ethical conduct, risk sharing and the prohibition of interest (riba) and speculative transactions (gharah).”
He added: “These principles pave the way for a financial ecosystem that fosters shared prosperity and social welfare.”
The financial expert called on the operators of the Islamic financial system to continue with awareness creation and engagement across communities while being at the forefront in innovation and excellent customer service.
He urged the operators to remain committed to the principles underlining Islamic finance to engender the confidence of the public.
The Muslim personalities who received merit awards at the event include the Executive Secretary of the Universal Basic Education Commission (UBEC), Dr Hamid Bobboyi; Professor Bashir Galadanchi of the UBEC Resource Centre, Abuja; and the president of the Muslim Ummah of South West Nigeria (MUSWEN), Alhaji Rasaki Oladejo.
The others are the Grand Chief Imam of Ekiti State and President General, League of Imams and Alfas in the South West, Sheikh Muhammad Jamiu Bello Kewulere; and the chairman of Jaiz Takaful Insurance Limited, Hajiya Zainab AbdurRahman.
Fellowship awards were presented to Professor Sani Umar Musa of the Department of Arabic, Usman Danfodiyo University, Sokoto and former Head of the Arabic and Islamic Studies, University of Ibadan, Professor Kamil Koyejo Oloso.
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