The meeting was organized by the Pakistan Investors Forum (PIF) in honor of Maulana Ihteram-ul-Haq Thanvi, a renowned Islamic scholar from Pakistan who is currently on a private visit to the Saudi capital.
“One of the reasons for Muslims' failure to consolidate the supremacy enjoyed by their forefathers in business activities was a lack of interest,” he said, noting that they subsequently lost the hard-earned grip on the economy, which went into the hands of others and so is the political control too. “The tragedy is that Muslims still have not recovered from that position,” he lamented.
In his opening speech, Shamshad Siddiqui, vice president of the PIF, said the organization extended invitations to all sections of the community since the visiting dignitary could speak on religious and mundane affairs.
“Capitalism and socialism disregard religious principles, while Islam, the religion of peace and tolerance, propagates a policy contrary to those foreign ideals,” the scholar said.
Quoting verses from the Holy Qur’an, he said Islam does not want Muslims to cheat others in business and in other social, political and commercial dealings. “Equally, the religion abhors people getting victimized by fraudsters."
In his welcome address, Siddiqui read out a brief profile of Thanvi, including his stints with Pakistan People's Party.
PIF President Tariq Soomro presented a review the aims and objectives of the organization. He pointed out there are 700 Pakistanis who have made investments in the Kingdom to an estimated value of more than SR1.5 billion.
“These investments have been streamlined through Saudi Arabian General Investment Authority(SAGIA), which allows foreign investments in certain regulated sectors,” he added.
Ambassador Naeem Khan handed the guest a memento on behalf of the PIF president.
