110 in one and half year – NBP sets up branches of Islamic Banking

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NBP sets up branches of Islamic BankingWorking on promotion of Sharia based banking and with a period of one and a half year Pakistan NBP sets up branches of Islamic banking of a total of 110 in the country.

Saima Rahim, Regional Head Islamic Banking NBP revealed. Provincial Minister for Excise and Taxation, Mian Jamshed Kakakhel was chief guest and President NBP, Iqbal Arshraf was also present on the occasion.

Saima Rahim said NBP is spreading its Islamic Banking branches in every nook and corner of the country. In this regard, she continued, Sharia based banking is also extended to Federally Administered Tribal Area (FATA).

She said the decision to start Islamic Banking was taken after appearance of reports about looting of public money by vested elements in the name of Mudarba.

Mufti Ehsan Waqar, a religious scholar, appreciated promotion of Islamic banking in the country and role of NBP in this regard.

He said NBP is planning to expand its branches from 110 to 175 within a year and it is a very good sign. Mufti Ehsan said Pakistan is an Islamic Republic and it is mandatory from religion point of view that banking should be in line with Sharia.

Provincial Minister for Excise, Jashed Kakakhel also spoke on the occasion and assured the NBP officials of all out support of KP government in regard with promotion of Islamic banking in the country.

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