Experts, Scholars should work to Promote Islamic Banking

Islamabad – Pakistani President Mamnoon Hussain has called upon banking experts and Ulema to jointly focus their research on finding a workable strategy for promoting the Islamic banking in the country, The News International reported.

Addressing a national seminar on ‘Islamic banking and finance prospects and challenges’ here on Wednesday at the Islamic International University; the president said the benefits of Islamic finance should reach the common man to end poverty.

The president said Islamic banking had immense potential of growth in Pakistan, adding that the subject needed profound research by the relevant experts.

He said for being Muslim citizens of this country, it was obligatory to work for implementing the Islamic financial system. He said the Islamic banking system was being given patronage at the government level.

He said there was a need to flourish the culture of research in the country to explore the horizons of knowledge, which he said was a key to success for a nation. Economics had outclassed the importance of politics in global scenario and said with research-based knowledge a country could achieve economic stability and prosperity.

He added that the government during the two-and-a-half years had made remarkable progress in stabilizing the economy, which was also acknowledged by the international monetary rating organizations.