Additional Director State Bank of Pakistan Dr Mohammad Salim has said that under a ruling of the Federal Shariat Court, conventional banking in the country was being shifted into Islamic banking system to get the people rid of interest-based banking.
He expressed these views while addressing a meeting of the business community including office bearers of the Federation of Pakistan Chamber of Commerce and Industry in the Regional Office.
The central bank official said that granting banking sector relief to the business community and giving share to its various schemes was aimed that their efforts for economic stability not go to dustbin and rather cause further growth in it.
He highlighted various ongoing conventional and Islamic banking schemes of the central bank and said that majority of the business community is unaware of them.
He said that for creating awareness amongst the business community, the process of meetings with the latter would be accelerated to go forward towards the resolution of the problems through mutual consultations.
Dr Mohammad Salim told the participants of the meeting that they believed in the uplift of the businessmen and promotion of business activities, saying the strengthening of businesses will ultimately strengthen the national economy. He also agreed with the demands of consistency in policies.