The Faculty of Business organized a seminar titled "Accounting Challenges in Islamic Finance” by Mr Muhammad Tariq, Partner, KPMG on 12th
November 2013. The seminar began with an opening speech by Dr Taimur Sharif, Chair of Accounting and Finance Department and Coordinator of the Services and Activities Committee. He introduced Dr Abu Reza and Mrs Rekha Pillai the other members of the team and provided a briefing about the aim and objectives of the committee, which was to operationalize the innovative ideas put forth by the students and faculty of the business department. Dr Afaf Mubarak, Asst Prof. in Accounting introduced the guest speaker Mr Muhammad Tariq to the audience. The main aim of the presentation was to introduce the concept of Islamic Finance. The presenter also differentiated between conventional banking and Islamic banking and enumerated the main accounting challenges confronting Islamic Finance with special emphasis on the applicability of IFRS on the topic.
The seminar was attended by the Vice Chancellor Prof Munther Momany, Dr Hazem Marashdeh Dean of Business, a few faculty and staff members and students from the Faculty of Business and the session was concluded with an interactive question and answer session.