Islamic Banking System in Pakistan implementation status
Shares
Minister for Law and Justice Zahid Hamid said in Senate that promotion of Islamic Banking System is top priority of the government.
He was responding to a motion moved by Sitara Ayaz and others regarding the need for enforcing Islamic Banking System in the country.
He said that 11.7 percent of the banking system of Pakistan and 13.3 percent of total deposits as of December last year are Islamic.
He said 21 Islamic Banking institutions are working in the country. He said 2300 branches offering Islamic banking in 112 districts of the country are functioning.
The Minister said that State Bank of Pakistan has reduced minimum capital requirement for Islamic banking subsidiary from ten billion to six billion rupees.
Minister of State for Water and Power Abid Sher Ali assured the House that recruitment process to fill vacant posts in Quetta Electric Supply Company will be started soon.
He was responding to a point of public importance raised by Sardar Muhammad Azam Khan Musakhel.
He said that earlier the process of recruitments was halted due to reservations of the local people.
Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi has said that petroleum prices in Pakistan are low as compared to the prices in India and Bangladesh.
