Staff Reporter Karachi
The Chairman of Shariah Board Sindh Bank, Mufti Najeeb, on Monday said that for the last 20 years Islamic banking is being tried and fourth generation has started.
Addressing the Round Table Conference on Islamic Banking, he said that government must formulate required rules and policies to this effect. “Practical steps are needed besides full public awareness.
I would like to suggest that Islamic banking must be made part of education,” Mr Mufti said.
He also threw light on Seeratun-Nabi which he said is being made part of education in 21st century. He demanded that Islamic trade must be Sharia compliant. He said a steering committee be set up for this purpose.
He said that top management trust is very important. Halal industry is a billion dollar industry in the world but in Pakistan its share is almost nil, he said.
He advocated that policies to subsidize this Islamic banking business is needed. He also floated the idea of Sharia advisors committee. “In future we will face challenges of Fintac, digitalization, Cryptocurrency and blockchains. Citing Malaysia, he said Shariah schools must get together under one-roof.