President stresses on promoting Islamic Finance in Pakistan

News Image

By MG News | January 28, 2019 at 04:20 PM GMT+05:00

0:00

January 28, 2019 (MLN): Dr. Arif Alvi, the Honorable President of Pakistan extended his support for the development of Islamic banking industry in the country in a meeting held with Mr. Irfan Siddiqui – President & CEO, Meezan Bank and Mr. Jameel Ahmad - Deputy Governor, State Bank of Pakistan along with a delegation from Meezan Bank.

The group discussed the opportunities and challenges of Islamic banking in Pakistan and urged for elimination of Riba from the society.

Mr. Irfan Siddiqui updated the Honorable President on the growth of the Islamic Finance industry that presently comprises 15% of Pakistan’s banking industry and appreciated the Prime Minister’s vision to take this number to 25% by 2023.

Mr. Irfan Siddiqui also commended the resolution passed by the Senate of Pakistan on conversion of Government debt to Shariah-compliant modes and said that promotion of Islamic Finance will promote financial inclusion as well as give a boost to the country’s economy.

The Constitution of Islamic Republic of Pakistan also requires elimination of Riba as early as possible and the government’s efforts will go a long way in achieving this objective.

The Honorable President showed keen interest in promotion of Islamic Banking and emphasized the need for Government support to the Islamic Finance industry.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 125,627.31
258.99M
1.00%
1248.25
ALLSHR 78,584.71
1,142.41M
1.16%
904.89
KSE30 38,153.79
69.25M
0.63%
238.06
KMI30 184,886.50
91.38M
0.01%
13.72
KMIALLSHR 53,763.81
554.57M
0.54%
290.61
BKTi 31,921.68
33.15M
1.78%
557.94
OGTi 27,773.98
9.65M
-0.40%
-112.21
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 107,665.00 108,105.00
107,505.00
-570.00
-0.53%
BRENT CRUDE 66.46 66.63
66.43
-0.28
-0.42%
RICHARDS BAY COAL MONTHLY 97.00 97.00
97.00
1.05
1.09%
ROTTERDAM COAL MONTHLY 107.65 107.65
105.85
1.25
1.17%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 64.80 65.02
64.77
-0.31
-0.48%
SUGAR #11 WORLD 16.19 16.74
16.14
-0.52
-3.11%

Chart of the Day


Latest News
July 01, 2025 at 06:00 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


June 30, 2025 at 11:55 PM GMT+05:00

TRG: Dominos Tumbling for the Management



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg