Muhammad Rizwan-ul-Haque

Muhammad Rizwan-ul-Haque

Islamic Finance Professional, Perusing Establishment of Islamic Economy


Mr. Haque is making a humble endeavor to present a new economic model by primarily taking guidance from Quran & Sunnah. Islamic economy is neither inspired by the injustice of capitalism nor does it supports socialism which is against human nature. He also gives a five-tier plan that how capitalism can be converted into an Islamic economic system.

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It is very unfortunate that the prevailing economic system and;

(a) its involvement with interest (Re. Al-Quran 30/39),

(b) acquisition of a major portion of funds in society through loans by rich entrepreneurs, companies and the government is also against principles of Islam because the loan is not a money-making option in Islam instead it is only to help the needy (Re. Al-Quran 2/280-283)

(c) the concept of leveraging, whereby general public funds are wrongfully appropriate by the rich and government (Re. Al-Quran 4/161) and

(d) prevailing system of banking i.e. both conventional and Islamic are root cause of economic anomalies, because even the latter continues to use forbidden element of ‘interest’ as a benchmarking factor.

He is researching on subject of Islamic economics since 1995 and wrote the first paper in 1996. Ever since, he has written over 300 articles, which have been published both in local and international journal / newspaper. The majority of them can be found on LinkedIn.


Mr. Haque has also conducted workshops and a series of sessions on behalf Islamic Development Bank Institute (IsDBI), Jeddah, KSA. in Nigeria.


Mr. Haque stood first in college in bachelor’ degree exams and did his MBA from the Institute of Business Administration – Punjab University, Lahore in 1992 with a major in finance winning the award for ‘The Best Financial Analyst’. He has over thirty years of professional experience in the financial, industrial, and real estate sectors.


He is presently working as Chief Executive of ‘First Dawood Investment Bank Ltd.’. He has served on the boards of both listed and unlisted companies.


Over the year he has actively remained involved in establishing new entities in the financial sector; including an Islamic Bank, an equity brokerage house, a family Takaful company, and mutual funds. He is a director and founding Chairman of Dawood Family Takaful Ltd. During the financial crisis of 2008-09, he remained instrumental in presenting a novel idea to set off liabilities against assets in view of the then liquidity crunch. Thus saving companies / financial institutions from getting bankrupt.


He started his banking career with ANZ Grindlays Bank plc and also worked as Branch Manager for Khadim Ali Shah Bukhari & Co. Ltd. He also fulfilled his responsibilities as head Corporate Banking department of Oman International Bank S.A.O.G as well, for seven years.