IBA CEIF as a Knowledge Partner with The Professionals Network organised 9th Islamic Finance Expo & Conference 2020 at Karachi Marriott Hotel. While addressing participants of Conference Federal Minister of State for Pakistan Affairs Mr. Ali Muhammad Khan stressed on eliminating RIBA from Pakistan’s Economy and from financial supply chain. He said the vision of Prime Minister Imran Khan in line with our founder Quaid e Azam Mohammed Ali Jinnah is a Riba Free Economy. He further stated that vision of Riasat-e-Madina can only be achieved by eliminating Riba from Pakistan.
Deputy Governor State Bank of Pakistan Ms. Sima Kamil said that the growth of low cost housing is the solution to acute economic problems of the masses. She further said, Islamic Banking and finance can play a vital role while offering interest free housing financing facilities to underprivileged people of Pakistan.
Mr. Irfan Siddiqui, President & CEO of Meezan Bank Limited said that keeping in view the high public demand and growth of Islamic finance the midterm vision for Islamic banking is to achieve 50 percent market share in the country. He further stated, “With an aim to attract more deposits and customers, Islamic banking industry needs to deliver higher service quality to its customers while ensuring Shariah compliance and use of technology”.
Mr. Ahmed Ali Siddiqui, Director IBA CEIF and Head Shariah Compliance & SEVP, Meezan Bank Ltd. moderated the panel discussion on Islamic Banking 2025 Challenges & Opportunities.
Syed Amir Ali, President & CEO of Bank Islami said that there is a growing need and demand for riba-free solutions to meet the legitimate financial needs of businesses and individuals. If there is a demand for Islamic financial institutions, we will be there to fulfill it, he further remarked. Mr. Mehmood Tareen, CEO, TPN, mentioned that The Professionals Network has taken an initiative in June 2012 to create the awareness of Islamic Banking & Finance among the corporate sector as well as in the masses.
Mr. Ateeq Ur Rehman (Economic & financial Analyst) at the inaugural session emphasized that Islamic Banking needs to increase their contributions towards health services, education, and should work for development of economy.—Zawya News