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Shariah Compliant Banking has tremendous growth potential: Dar

Latest Update: March 26, 2016 | 185 Views
Ishaq Dar

ISLAMABAD: Finance Minister Ishaq Dar said that Shariah Compliant Banking has tremendous growth potential and government was determined to move ahead with this industry in the country.

Talking to Governor State Bank of Pakistan Ashraf Mehmood Wathra in Islamabad, the Finance Minister said the government has shown its commitment in facilitating the development of the Islamic Banking and finance industry by creating an enabling environment.

He lauded the work carried out by the Steering Committee for promoting Islamic Banking and Finance in the country. He said significant progress has been achieved by the committee in review of the legal, regulatory and taxation framework as well as the development of liquidity management solutions.

Ishaq Dar said Islamic capital market would greatly support further development of this industry in the country. The promotion of Islamic Banking would also help government’s cause of greater financial inclusion, he added.