Islamic Banking System can prosperous our Society, Muzaffar Said


Peshawar: “Islamic Banking & Finance system can bring prosperity in our society, if we act seriously on Islamic way of life specially in our financial matters, This was stated by Mr. Muzaffar Said Minister for Finance Khyber Pakhtunkhwa while addressing the “Business Gathering” organized by The Bank of Khyber (BOK) this afternoon at a local hotel.

Mr. Shamsu-ul-Qayyum Managing Director BOK, Syed Said Badshah Bukhari Secretary Finance Government of Khyber Pakhtunkhwa (KPK), Mr. Yawar Mufti Director Islamic Banking State Bank of Pakistan (SBP) & Prof. Syed Mohammad Abbas Member BOK Shariah Supervisory Board also spoke on the occasion.

While Mr. Mohammad Hussain Mehnati senior leader of Jamaat-e-Islami Karachi offered Dua for the promotion of Islamic Banking and financial system in Pakistan on the occasion.

Mr. Muzaffar Said mentioned that Province of Khyber Pakhtunkhwa is having excellent opportunities for Investment in various sectors like Tourism, Minerals, Hydal Power, Forests & other natural resources etc. He invites Karachi business community to invest over there (KP).

He lauded the role of Karachi while hosting peoples from all over the country & KPK and provided them good life. He prays that City of Karachi may become again City of Lights & Happiness.

He appreciated that Business Community & general public of Karachi always appreciated the BOK and we are confident that in future Karachi would also encourage BOK Trade Friendly activities.

He mentioned that in our KPK & BOK all decision are on merit we consider that merit is the best policy to achieve the goal of economic prosperity while extending services in any sector of daily and we always uphold the golden word of Father of the Nation Quaid-e-Azam Mohammad Jinnah & Poet of the Nation Allama Mohammad Iqbal.

Mr. Shamsul-Qayyum Managing Director BOK said theat Karachi is the hub of business activities and has been playing important role in economic developmental activities of the country since long.

BOK is having good number of branches in Karachi as we know that Karachi is very important for investment in KPK, our excellent business relations with trade & business community in Karachi is very important for KPK economic activities.

Mr. Shams-ul-Qayyum also mentioned that in order to reduce the poverty among youth, BOK distributed Rs. 2.1 Billion interest free loan to more than 21 thousand youth. He also mentioned that Minister for Finance Mr. Muzaffar Said also provided Rs. 3 Billion for Kifalat.

He also mentioned that BOK is also promoting Islamic Micro Finance in the Province and about investment opportunities in KPK he said that BOK will offer all possible facilities to Karachi business community for their investment in KPK.

Mr. Yawar Mufti Director Islamic Banking State Bank of Pakistan (SBP) while speaking on the occasion appreciated the role of BOK in Islamic Banking and Financial Services and this mode of Banking & Financial services are getting importance across the country presently Islamic Banking sector in Pakistan totally having 10% of total deposits in Banks which is increasing day by day.

SBP is fully supporting and promoting Islamic Banking system in Pakistan & presently 22 Banks are offering Islamic Banking and financial services in which 5 Banks are completely Islamic Banks while 17 Banks are having Islamic Banking Windows.

Speaking in his key note address Prof Syed Mohammad Abbas Member BOK Shariah Supervisory Board traced back the Islamic financial & economic system desire before Independence of Pakistan in the communications among Quide-e-Azam & Allama Iqbal, in light of their desires and need of our Prof Mohammad Abbas said that we should act seriously on Islamic mode of financial & economic services structure in country and get benefited from the fruits of Islamic code of life.

While offering vote of thanks Syed Said Badshah Bukhari Secretary Finance Government of KPK also mentioned that presently government of KPK is trade & investment friendly government and offering various facilities to the traders and business community for mutual benefits.

The post Islamic Banking System can prosperous our Society, Muzaffar Said appeared first on Pakistan Press International.

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