Published On: Thu, Jan 16th, 2014
Published in Category: Business

Govt for promotion of Islamic banking: President

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KARACHI: President Mamnoon Hussain has said the government is making serious efforts towards the implementation of Islamic Banking in the country.

Inaugurating Roundtable Conference on Islamic Banking in Karachi on Wednesday‚ he said Islamic Banking is gaining popularity and is fast growing in Pakistan.

He said that free from the curse of Riba‚ it helps the believers in striving for a society that is free from social and economic injustices‚ exploitation and inequalities.

The President said a Committee has already been notified to give recommendations for the promotion of Islamic Banking and to formulate comprehensive policy framework for Islamic Financial System in the country.

He said that the Committee would be able to chalk out clear roadmap for transition towards Islamic Banking system in the country.

The President said we can learn from the successful experience of Malaysian banks towards Islamic banking. In this context‚ greater interactions among Pakistani and their Malaysian counterparts would be of great significance.
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