Dr.Ausaf Ahmad, a face of Islamic finance in India passes away

Dr. Ausaf Ahmad
Dr. Ausaf Ahmad

By Mahmood Asim,

Delhi:(Maeeshat) An advocate of Islamic finance and interest free economy bused on Shariah rules Dr. Ausaf Ahmad has passes away Thursday evening at his resident in sector 27 of Noida in Uttar Pradesh and will be buried on Friday around 4 PM at sector 94 in Noida. Only one day before of his final departure he visited his office and worked as usual in Abul Fazal area of Jamia Nagar in New Delhi. His latest article has been published recently in ‘Dawath’ Urdu News Paper on ‘takaful’ published by Jamaat Islami Hind.

Dr. Ausaf Ahmad, who was about 70 years old, got elected chairman of Indian Centre for Islamic Finance (ICIF) in February 2014 and was currently serving the same. With the ambition of Islamic Finance not just for Muslims Dr.Ausaf spend his whole life enlightening people through his lectures and books about the possibilities and challenges of Islamic finance not only in India but in the world.

After the completion of his Ph.D. in economics from Northern Illinois University USA in 1977 he came India back and served many higher institutions such as Delhi University, Jamia Millia Islamia and Aligarh Muslim University. Dr.Ausaf did his M.Phil. in economics from Jawaharlal Nehru University New Delhi and completed his masters in economics from Lucknow University.

In addition to serving several educational institutes Dr.Ausaf also rendered his services to many esteemed economics organizations. He has served the Islamic Research and Training Institute of the Islamic development bank (IDB) for over twenty-two years as a senior economist. He had also been associated to International Institute of Islamic Business and Finance (IIIBF). Along with his guidance and president ship over many economics bodies he also carried out several research projects for the Indian Council of Social Science Research, New Delhi, International labor office, Geneva and King Abdul Aziz University Jeddah KSA.

In his long career Dr.Ausaf has written many books outlining the prospects, possibilities and challenges of Islamic banking and finance with special focus on Indian prospective. He has written more than 30 research papers and 15 books, many of them have been translated into several languages including Urdu Arabic French and Italian. His main areas of research have been Islamic finance and Islamic banking, public finance, monetary funds and economics of development.

     Here we cite some of important publications Dr. Ausaf has authored : “Challenges Facing Islamic Banking”, “Contemporary Practices of Islamic Financing Techniques”, “Instruments of Regulation and Control of Islamic Banks by the Central Banks”, “International Economic Relations From Islamic Perspective”, “Islamic Financial Instruments for Public Sector Resource Mobilization”, “Lectures on Islamic Economics”, “Structure of Deposits in Selected Islamic Banks” and “Towards an Islamic Financial Market.”

Dr.Ausaf Ahmad left one son and two daughters after him.


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