Global Economic Crisis: The Perspective of Islamic Banking

vvvMr. Amer Bukvić, CEO of the Bosnia Bank International, delivered very insightful academic lecture on “Global Economic Crisis: The Perspective of Islamic Banking.” This was the sixth lecture held at the International University of Sarajevo as a part of public monthly Academic Lecture Series. Mr. Bukvic, highly influential and prominent speaker, had attracted the attention of more than seventy participants. Such tremendous interest in this lecture arose as a result of widespread global economic forums dealing with the subject of present economic crisis and, more importantly, due to less known, to the extent ‘controversial’, promising future of the Islamic banking.

At the beginning of the session, Dr. Muhidin Mulalić, Coordinator of Academic Lecture Series, introduced the audience with the aims and objectives of such lectures, thus, articulating the very fact of their extensive role in providing a platform for experts, researchers, diplomats and professors to tackle various challenges of the 21st century. Indeed, as Dr. Mulalić rightly pointed out, presence of previous high-ranking speakers indicate very promising role of Academic Lecture Series.

Dr. Mulalic, in his welcoming style, made a brief yet soul-touching introduction of the guest-speaker. He introduced the educational background of Mr. Amer Bukvić whose Malaysian, Japanese and British educational experience has played the decisive role in his climbing top of the pyramid. Mr. Bukvić who is embodiment of youth, knowledge and experience is indeed promising future of Bosnia-Herzegovina. Mr. Bukvic has very rich professional international experience, from 2001 to 2004 he held different positions at Abu Dhabi Islamic Bank, Dubai Islamic Bank and Islamic Development Bank. He taught at the College of Business Administration in Saudi Arabia; University of South Africa in Saudi Arabia and in the International University of Sarajevo, Bosnia-Herzegovina. Mr. Bukvić was presented to the audience as sincere friend and supporter of the International University of Sarajevo. On behalf of the University, Dr. Mulalić extended sincere gratitude to the guest-speaker for sponsoring several students, being former member of IUS Advisory Council, recommending IUS application to the Islamic Development Bank and issuing student’s identity/credit cards.

Mr. Bukvić began his lecture with an attempt to put into the perspective current global economic crisis, taking into consideration ‘historicity’ of international financial system. Perhaps, being partly influenced with the dependency theory, Mr. Bukvić made quick conclusion that current global economic crisis originated from the West, whose economic foundations are at the verge of collapse. The speaker made in-depth comparison between Asian and Western economic future and made revolution-making statement, “Asia will rise and Europe will decline!?” Using such a premise, which is indeed another novelty, he articulated ‘look east economic policy’ for all the Balkan states. In this regard, Mr. Bukvić articulated Bosnia Bank International as a bridge between South Eastern Europe and Asia. According to Mr. Bukvić there is the need for new international financial system whereby he didn’t hesitate to declare that Islamic banking and its financial system have been already playing key global role. Islamic banking and its financial system, with it’s as the speaker said, “silent features” is indeed the serious alternative to the conventional banking and conventional financial system. Mr. Bukvić has also articulated present challenges of Islamic banking and its financial system. The bulk of his lecture was but the promotion of, and rightly so, Bosnia Bank International. He asserted that Bosnia Bank international is a key player and leader of economic development, banking and investment in South Eastern Europe, especially in Bosnia and Herzegovina. He stressed the challenges Islamic banking faces in Bosnia-Herzegovina such as a challenge to educate citizens, to introduce the insurance on Islamic principles and to create the new generation of bankers.

Mr. Bukvić had proposed various kinds of cooperation between Bosnia Bank International and International University of Sarajevo. Token of appreciation for honorable guest-speaker was given by Assoc. Prof. Dr. Ali Gunes, the Dean of the Faculty of Arts and Social Sciences.

sourece : ius

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