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‘90% of People don’t have information about Islamic Banking’

KARACHI (Dunya News) – An awareness seminar on Islamic Banking was held by Institute of Businees Administration (IBA) Karachi and Dunya News.

State Bank of Pakistan Deputy Governor Saeed Ahmad professed on the occasion that 90 percent of the people don’t have information about Islamic Banking.

He let it be known that Pakistan is the only country in the world in whose constitution the interest has been declared ‘haram’ and that awareness should be spread about Islamic Banking.

SBP Deputy Governor also appreciated the efforts of Dunya News in spreading awareness about Islamic Banking.

IBA Director Dr Farrukh Iqbal revealed on the occasion that the institution has started two years masters program for promoting Islamic Banking.

Other participants in the seminar revealed that most of the companies are attracting towards Islamic Banking however the limited infrastructure in current financial system regards to interest free banking is a big hurdle in this case.