Govt pursing policies to promote Islamic banking in Pakistan | Pakistan Today

Govt pursing policies to promote Islamic banking in Pakistan

President Mamnoon Hussain said on Monday that the government was pursuing appropriate policies for the promotion of Islamic banking and finance in the country.

Addressing a roundtable conference on Islamic banking in Islamabad, he said that it was encouraging that the share of Islamic banking in overall banking sector was steadily growing. This, he said, showed the tendency of the public to use Sharia based banking system and made it incumbent upon the relevant quarters to further bring improvement in it.

The president also urged the banks dealing in Islamic finance to come up with micro-finance schemes in various sectors including agriculture for poverty alleviation and just distribution of wealth.

Mamnoon Hussain stressed the need for making the banking system more vibrant in the wake of China Pakistan Economic Corridor and a number of energy projects currently being worked in the country.

The president said that corruption had greatly harmed our society and there was need for all out efforts to eliminate the menace. He said that everyone had to play their role in eliminating corruption from the country. On the occasion, the president also distributed awards for best services in Islamic banking and finance.

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