Dr Shamshad Akhtar, Governor, State Bank of Pakistan (SBP), has ordered the setting up of a task force that will have Shariah advisers of the banks to promote research and development as well as training and academic curricula for different levels of education.
Dr Akhtar took this step while presiding over a meeting of the Shariah advisers of present and up-coming Islamic Banking Institutions at the SBP, Karachi on Monday.
She reiterated the State Bank''s commitment to promote Islamic banking in its true letter and spirit and appreciated the role of Shariah advisers in providing right and balanced guidance to the industry. She said that in order to utilise the potential of Islamic banking in Pakistan, which is at a primary stage at present, the financial needs of urban as well as rural areas should be met in a Shariah compliant rules and regulations.
"There is a need of raising the level of awareness about the concepts and practices of Islamic banking," the governor added.
The Shariah advisers of Islamic banking institutions appreciated the role of State Bank in promotion of this industry. They said that they needed to focus on providing adequate educational and training facilities in Islamic banking and development of Islamic interbank market. The Shariah advisers of 17 present and upcoming Islamic banking institutions attended the meeting, hosted by Director Islamic Banking Department Pervez Said.
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