Pakistan to host International Conference on Islamic Funds

LAHORE: Financial world is banking upon the Islamic Finance and Shariah Compliant Investment Funds, in the backdrop of the current global financial crisis, which in turn is bringing a boost to the Islamic Funds and Sukuks. Considering the healthy global growth in this sector, an International Conference is being organized on April 23, 2012 in Karachi in order to strengthen the Islamic finance sector in Pakistan.

Research papers will be presented and productive discussions will be undertaken to highlight the role of Pakistan in the global Islamic finance market.

Islamic finance is making healthy growth in Pakistan which now stands over 1000 Islamic banking branches from 05 Islamic Banks and 13 Conventional Banks with Islamic finance operations. In addition, it has good support from 05 Takaful Companies, Mudarabah Companies, 20 Islamic Microfinance Institutions, over 30 Sukuk issues while 15 fund managers have launched their Islamic Funds, which have made prominent role of Pakistan in the global Islamic finance canvas, organizer of International Conference and Chief Executive Officer, AlHuda-Centre of Islamic Banking and Economics, Zubair Mughal said.

Zubair Mughl further informed conference will be followed by a 2-day Specialized Workshop on the Shariah and Regulatory Framework for Islamic Funds on 24th and 25th of April, 2012 in Karachi.