Islamic Banks all set to help Govt launch Islamic Sukuk

Finance Minister Asad Umar chaired meeting of senior representatives of different Islamic Banks on matters pertaining to launch of Islamic Sukuk by the Government (PHPL)here on Thursday.

A consortium of Islamic Banks, it may be added has been assigned the task to coordinate with the Government and facilitate it for the launch.

During the meeting representatives of the Islamic banks apprised the meeting about the progress for the subject launch. They also informed that most of spade work had already been completed and there were minor irritants left to be removed.

Finance Minister appreciated the increasing role of Islamic Banks in the overall banking sector and their potential for providing strength to economy. He assured the delegation of all out support from the Government for the planned launch of Islamic sukook which aims to generate sufficient finances to ease out liquidity of the power sector.

The meeting was also attended by Omar Ayub Khan Federal Minister for Power.