ZTBL sets up Islamic banking system

LAHORE: Punjab Governor Mohammad Sarwar has said the new Islamic banking setup by the Zarai Taraqiati Bank Ltd (ZTBL) is in accordance with the present government’s priorities, and will be an important step for the farmers.

Speaking at the inauguration of the Islamic banking setup of the ZTBL on Monday, he said Pakistan was an agricultural country, and the way Zarai Taraqiati Bank Ltd was facilitating the farmers through its 500 branches was commendable.

The bank’s role in providing timely loans to the farmers and development of poultry industry carries a lot of weight, as the bank has not only provided loans for this industry but has also played an important role in establishment of its basic infrastructure, he said.

The Zarai Taraqiati Bank Ltd was established in 1961 and for the last 57 years was working on an interest-based system.

“I congratulate the president and his staff, who are playing an important role in establishment of Islamic banking. I felicitate them for their untiring efforts to

facilitate the farmers and assure them of my fullest cooperation in this regard,” he added.

Zarai Taraqiati Bank Ltd President Sheikh Aman Ullah in his welcome address briefed about the bank’s performance and stated that the staff was working beyond their capacity for enhancing the performance of the bank.