INP-WealthPk
Future of country’s economy directly linked with Islamic Banking: VP FCCI
June 21, 2018
FAISALABAD, June 21 (INP): Vice President Faisalabad Chamber of Commerce & Industry (FCCI) Usman Rauf has said that the future of economy of the country is directly linked with Islamic Banking, hence the State Bank of Pakistan (SBP) must expedite its efforts to promote, strengthen and encourage Islamic banking in order to completely replace “Riba” based traditional banking system.
Addressing an awareness session on the promotion of Islamic Banking in SBP Faisalabad on Thursday, Usman Rauf said that Pakistan is an Islamic country and Muslim majority has inherent inclination towards Islamic banking because of their fundamental Islamic beliefs and principles.
“However many of them were forced to adopt traditional banking system which is constantly pinching their minds and souls despite of their strong desire to abandon it”, he said and added that in the given circumstances they have no other option but to stay in the field of business and industry through traditional banking system.
He expressed satisfaction over the popularity of Islamic banking in Pakistan and hoped that being regulator SBP should dole out more incentives and facilities for the promotion of Islamic banking.
Continuing VP Usman Rauf said that being a dynamic , commercial, business and economic hub of the country, SBP should also take special steps to educate the business community of the city to adopt Islamic banking in order to fulfill their entire banking needs.
He told that FCCI is the sole elected and representative trade body of the business community of Faisalabad. “It has more than six thousand members within its fold who represent almost all segments of the national economy”, he added.
He said that FCCI is holding awareness sessions for the benefit of its members and SBP should also arrange a special awareness sessions on Islamic banking at an early date.
Mr. Usman Rauf also presented a proposal to set a special help desk regarding Islamic banking so that FCCI members could get resolved their issues relating to Islamic banking.
Mr. Muhammad Akbar Deputy Chief Manager SBP Faisalabad appreciated the cooperation extended by FCCI and disclosed that an awareness session on Islamic banking will be organized during last week of July or first week of August in FCCI.
INP/SB/AK
