By Zafar Iqbal for TwoCircles.net,
Dr Ausaf Ahmad, a prominent Indian economist and known for his pioneering work in Islamic economics has passed away. He was 70.
He died at his residence at Noida, near New Delhi, on Thursday, January 22.
Dr Ahmad was associated with the Jeddah-based Islamic Development Bank (IDB) as a senior economist for more than two decades. He also served at the historic Aligarh Muslim University (AMU) and the Jamia Millia Islamia, Delhi.
Dr. Ausaf Ahmad
Dr Ahmad obtained the master’s degree in economics from Lucknow University, an M Phil from Jawaharlal Nehru University, Delhi, and a Ph D in economics from Northern Illinois University (NIU), Illinois, in 1977. During his stay at NIU, he was a regular visitor to our place in Indianapolis, IN.
His research included over 25 papers and 15 books. Many of these have been translated into other languages, including Urdu, Arabic, French and Italian. His main areas of research were economics of development, public finance, monetary policy and Islamic banking. Some of his famous publications include ‘Challenges Facing Islamic Banking’, ‘Structure of Deposits in Selected Islamic Banks’, and ‘Towards an Islamic Financial Market’.
I knew Dr Ahmad since his childhood. He was a classmate of my elder brother, late Dr Saadat Ali at Mumtaz Higher Secondary School (now Mumtaz Degree College), Lucknow and later at Islamia Inter College (now Islamia Degree College), Lucknow. During their High School days, Dr Ahmad and few like-minded Urdu lovers – Saadat Ali, Absar Abdul Ali, Abdur Rauf Khan Khaleel, Ahmad Ibrahim Alvi, Farhat Umar and Ehtesham Ali Jafri among others – had started weekly meetings with supervision of my father, late Dr Shujaat Ali Sandelvi. This group – BachchoN ki Adabi Anjuman – later became Anjuman Adab-e-Adfal.
Dr M U Beg, now in Kuwait, and I, being younger, were tolerated by the group. The Anjuman continued its working for several years until the ‘gang’ started dispersing into other cities for higher degrees. However, Dr Ahmad remained in constant touch with my father and brother.
Of late, Dr Ahmad was writing his biography and had sent first three chapters to me. A full chapter was devoted to his life and times at educational and literary activities at Lucknow. He later slowed down, perhaps because of failing health. Reading his manuscript again today, brought back a lot of memories. He achieved great success in this world and I am sure he will have a high place in Jannat by the Mercy of Allah.