September 28, 2018: Minister for Finance Mr. Asad Umar has said that level playing field would be given to the Islamic Banking along with the conventional banking, during a meeting with a delegation of Chief Executive Officers of Islamic Banking Institutions at the Ministry of Finance on Thursday, 27th September.
He asked the CEOs to come up with innovative products through which they could participate in sectors which were facing liquidity problems, and remove obstacles faced by Islamic Banking institution in its future growth.
During the meeting, President Meezan Bank Irfan Siddique gave a detailed presentation on Islamic Banking sector in Pakistan. He said that there was a great demand for Islamic banking as a large segment of population wanted to avail Islamic Banking services.
He said that the industry which was set up in Pakistan in 2005 had witnessed a robust growth of 35 percent.
Finance Minister said the government was committed to promote Islamic Banking sector in the country and would help in resolving the issues faced by the industry.
Secretary Ministry of Finance Mr. Arif Ahmed Khan was also present on the occasion.