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Hurmat e sood conference

Hurmat e Sood Conference at FPCCI

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  • Post category:Economy / Pakistan
  • Post last modified:01/12/2022
  • Reading time:5 mins read

KARACHI: JUI-F Chief /Chairman PDM Maulana Fazl-ur-Rehman appreciated holding of seminar on the topic of Hurrmat-e-Sood by FPCCI and Jamia Darul Uloom that had enabled Ulema from all schools of thought, business leaders and other stakeholders to converge and offer concrete proposals to the earliest implementation of Federal Shariah Court’s verdict on Islamic banking.

Fazl-ur-Rehman praised the role of Mufti Muhammad Taqi Usmani and Senator Muhammad Ishaq Dar for promotion of Islamic finance.

Others who spoke at the seminar included Mufti Mohammad Taqi Usmani, Governors Sindh and KP, SBP Governor Jamil Ahmad, JUI Chief Jamaat-e-Islami Sirajul Haq, Mufti Munibur Rehman, Prof Sajid Mir, Shah Owais Noorani, Dr Hussain Akbar.

Governor Khyber KP, Haji Ghulam Ali, who had been leading the business community on different forums including FPCCI, assured all possible support of the business community for the promotion of Islamic finance system.

He offered that as a Governor, he would host a seminar on Hurrmat-e-Sood in Peshawar and invite Ulema and business community to ensure maximum participation.

Federal Minister for Religious Affairs, Mufti Abdul Shakoor emphasized on the unity among the Muslim Umah for riba-free economic system including the finance system.

He said that it was not only Ulema’s job but the entire Muslim society would have to stand together to get rid of riba, which is curse.

He assured the Ulema that all genuine issues of madaris would be resolved which included opening of accounts.

Governor SBP Jamil Ahmed highlighted the steps taken by the Central Bank for promoting Islamic banking since 2001.

Now, five full-fledged Islamic banks were successfully operating in the country and 17 conventional banks had many dedicated Islamic banking branches.

At present, Islamic banking has 25 percent growth rate with 21 percent market share.

The tendency for Islamic banking was increasing with the passage of time.

He announced that soon SBP would contact the stakeholders to further the agenda of riba free finance system.

The SBP was sincerely and seriously working on implementation of FSC decision on Islamic finance within the stipulated time.

He urged Islamic banks to focus on providing finance to under-served sectors of the economy.

Former president of FPCCI Anjum Nisar described the holding of the seminar on riba as very good step.

Anjum Nisar assured that the business community would play a lead role to convert not only the finance system but the entire economy into Islamic one.

Finance Minister Ishaq Dar said Pakistani economy could be interest-free within next five years.


Sania Jamali

Sania Jamali, who studied Media in UAE, is associated with since its inception (2015) mostly reporting International Politics.