SBP for robust Islamic banking system

KARACHI: Saeed Ahmad, deputy governor of the State Bank of Pakistan (SBP), has stressed on the need for a robust Islamic banking system in the country, a statement said on Friday.

Speaking at a learning programme on Islamic Banking and Finance, jointly organised by Bank Alfalah and Centre for Islamic Economics, Ahmed highlighted the steps taken by the central bank to promote Islamic banking and finance in the country.

There is a need for robust Islamic banking system, he said and stressed on the need to promote Islamic banking in Pakistan.

He also appreciated the efforts of Bank Alfalah in building capacity of its staff and creating awareness about Islamic banking principles among the customers.  Faisal Farooq Khan, group head of Human Resource & Learning Group, Bank Alfalah, said: “Bank Alfalah is committed to build the capacity of employees so that they understand and uphold Shariah-complaint banking practices.”

He also said that the bank is focusing on an innovative player in the industry and is exploring new opportunities in creating an Islamic payment platform to enhance financial inclusion of the unbanked segments of the industry.

The programme concluded with a panel discussion on the latest trends in Islamic banking, moderated by Head of Learning and Development, Ahmed Nauman Anees.  Dr Imran Usmani, Director CIE and a prominent Shariah scholar, appreciated the collaborative efforts between Bank Alfalah and CIE to build the capacity of staff and customers in Islamic banking.

Other panel members included Mufti Khalil Aazami, chairman of the Shariah Board, Bank Alfalah, Mufti Irshad Ijaz, chairman of the Shariah Board, Bank Islami and Mufti Yahya, Shariah adviser, HBL.

Over the last few years, Bank Alfalah has forged strategic linkages with renowned institutions in Pakistan and abroad to develop learning programmes, including customised certification programmes, to increase the knowledge base and skills of employees on Islamic banking and finance.