RIBA FREE PAKISTAN

Al-Sadiq (a.s) Institute of Islamic Banking, Finance and Takaful in collaboration with Al-Nasay Solutions and Pakistan Learning Nest organized conference on ‘RIBA-FREE PAKISTAN’ on Sunday the 27th of November 2022 at Avari Tower, Karachi to have a collective dialogue among all stakeholders on the new horizon and strategy for proper implementation of Federal Shariat Court’s decision and emerging opportunities.

Renowned Shari’ah Scholars, Practitioners and Experts from Islamic Banking & Finance industry with stakeholders from State Bank of Pakistan, Chamber of Commerce, ICAP, Takaful industry and others graced the event and shared their strategic inputs.

The speakers discussed the importance of promoting Islamic banking and finance in order to achieve financial inclusion and economic growth. They noted that many people prefer Islamic banking due to prohibition of interest and its potential to provide Shari’ah-compliant solutions for businesses. The speakers also highlighted the potential for Islamic finance to facilitate fiscal responsibility and tax mobilization through the use of Islamic public finance structures. They discussed the increasing competitiveness of Islamic finance in certain sectors such as housing finance, consumer finance, and mutual fund investments and emphasized the need for collaboration between scholars and academics to further develop and research in Islamic finance.