CEOs of Islamic Banking Institutions call on Finance Minister

ISLAMABAD: A delegation of Chief Executive Officers of Islamic Banking Institutions called on Federal Minister for Finance, Revenue and Economic Affairs, Asad Umar here at the Ministry of Finance.

Secretary Ministry of Finance Arif Ahmed Khan was also present on the occasion, a statement issued here Thursday said.

During the meeting, President Meezan Bank Irfan Siddique gave a detailed presentation on Islamic Banking sector in Pakistan.

He said that there was a great demand for Islamic banking as a large segment of population wanted to avail Islamic Banking services.

He said that the industry, which was set up in Pakistan in 2005, had witnessed a robust growth of 35 percent. The presentation also highlighted the obstacles faced by Islamic Banking institution in its future growth.

Finance Minister said the government was committed to promote Islamic Banking sector in the country and would help in resolving the issues faced by the industry.

He said level playing field would be given to the Islamic Banking along with the conventional banking. He asked the Islamic Banking to come up with innovative products through which they could participate in sectors which were facing liquidity problems.