Govt taking steps to promote Islamic banking: NA told

ISLAMABAD: The Ministry of Finance, Revenue, Economic Affairs, Statistics and Privatization on Friday informed the National Assembly that the government was taking steps to promote Islamic Banking in the country.

In a written reply to National Assembly the ministry said that currently there are number of institutions which are providing training in Islamic banking and financing.

The National Institute of Banking and Finance (NIBAF), a subsidiary of SPB was offering a comprehensive Islamic Banking Certification Course (IBCC).Renewed Shariah scholars are included in the faculty of the institutes. So far, 26 batches have passed the IBCC.

The Institute of Banking in Pakistan (IBP) also offers Islamic banking courses from time to time. There are number of universities which are offering Islamic banking courses as well as research facilities.

SBP also has plans to establish Center of Excellence in Islamic Finance in collaboration with Islamic financial industry. The center will significantly augment the existing research capacity besides offering training and capacity building programs.