Islamic banking ensures equal distribution of wealth in society: MD SBP


State Bank of Pakistan (SBP) Managing Director Muhammad Ashraf Khan has said the objective of promotion of Islamic banking was to ensure equal distribution of wealth in society to end poverty and hunger.

He said that all Shariah requirements had been kept in view in while designing Islamic banking but our people are hesitant about the Islamic banking.

He was addressing the opening ceremony of 4-year BS Hons. programme in Islamic Banking and Finance under the Department of Islamic Studies at Government College Women University Faisalabad here Tuesday.

He said that ulema role was very vital in promotion of Islamic banking in our country. He said that members of the Shariah board would be called for the guidance of students of Islamic Banking course to clear their concept.

He said that presently, 20 institutes of Islamic banking were functional in Pakistan, of which five were complete Islamic banking and 15 have departments of Islamic banking. —APP

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