March 29, 2023
Banking Pakistan

Govt Committed To Eliminate Riba-Based Financial System, Says Dar

Finance Minister Mohammad Ishaq Dar on Thursday said that the government remains committed to implementing the Islamic financial system in Pakistan.

“The subject of Islamic economic system is close to my heart. I desire and pray to eliminate the interest-based system from Pakistan at the earliest,” said Dar, while addressing the ‘National Islamic Economic Forum’s conference on Roadmap for Islamization of the Economy.

To this end, Dar said a high-level three-member committee has been formed under the chairmanship of the Governor State Bank, under which the financial system of Pakistan will be planned to run on an Islamic basis. “I will be directly monitoring this committee,” he added.

He said that the Pakistan Muslim League-Nawaz (PML-N) in its past tenure introduced a number of measures to promote Islamic finance in the country, which has led to the progress of Islamic banking in the country.

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