A seminar titled ‘Capitalism and Islamic Economic System in the Modern Era’ was held at the Islamabad Chamber of Commerce and Industry (ICCI) which was jointly organised by the ICCI and the SAARC Chamber of Commerce and Industry. Speaking on the occasion, ICCI President Yassar Sakhi Butt said the success or failure of an economic system could be measured by its direct impact on the lives of people who live under that economic system. He stated that after the recent recession in USA and Europe, the future of capitalism has come under critical review and many economists and experts are exploring alternatives to provide with a seamless economic system. The president highlighted various flaws in capitalism, which promotes materialism, concentration of wealth in few hands and unfair distribution of resources. He was of the view that the Islamic Economic System provides comprehensive solutions to such problems. The, govt should, therefore seriously examine the Islamic Economic System as the only viable alternative to bringing welfare, prosperity and stability in society.
