The Meanings of Khatem (Last), Khatam (Seal)
Muslims believe Prophet Muhammad was the “Last” Prophet because of the word Khatem (which they say means the Last), which is mentioned in the Koran. Also the word Khatem can be read Khatam (Seal). So it may mean the Seal of Prophets. In our teaching it is explained why both Khatam and Khatem are correct.
He was the Last Prophet in the sense that being Surrendered and Submissive to God (Islam) is the Greatest Spiritual Realization (Last Spiritual Realization). So He brought the Highest Spiritual understanding to humanity, so in that sense, He is the Last. He is also the Seal of the Prophets as Islam is the Fourth Seal and if you look at The Greatest Sign (GS - base of our teachings) you will see Islam is the top Seal in the GS (The Seal of the Prophets): http://www.maitreya.org/english/gs.htm.
The Scriptures, however, reveal another Revelation as the last One:
Rev 10:7 But in the days of the voice of the seventh angel, when he shall begin to sound, the mystery of God should be finished, as he hath declared to his servants the prophets. (KJV)
So the Mystery Of God (Ghiamat, Day of Judgment, etc.) will come at the time of the Seventh Revelation (Angel). This Seventh Revelation or the opening of the Seven Seals is THOTH (The Holiest Of The Holies (THOTH), The Last Testament). If we realize this, then not only we do accept Bab/Baha'i teachings but also the teaching of the Mystical Paths (Hinduism, Buddhism, Sufism, etc.).
Then we can see it is God who has sent them all. It is then that we can see there is no conflict between any of them.
Conclusion: More Revelations (Prophets) will come after Prophet Muhammad.
Dogmas bring conflict. Truth brings Unity!