Dubai Islamic Bank (DIB) has introduced various Islamic banking schemes to help business community in establishing Ribba-free economy, said Dr Muhammad Qaseem, Country Head of the Dubai Islamic Bank here on Monday.
"The schemes introduced by Dubai Islamic Bank would help eradicate Ribba from Pakistan's economy and create an interest-free business atmosphere," Dr Qaseem said while talking to members of the Rawalpindi Chamber of Commerce and Industry (RCCI).
"Though the share of Islamic Banking in overall banking is very low but there is huge potential in this sector as people were shifting to the Islamic banking," he said adding that Muslim World is quickly moving towards the interest-free banking while non-Muslims were also impressed by this system. Pakistan is an Islamic country and people in general and business community in particular believes in Islamic banking to discourage the Ribba based economy, he said, adding that many banks have entered Islamic Banking.
Encouraging trends in Pakistan would give a boost to Islamic banking, elsewhere, he said. He briefed the RCCI members about the Islamic banking system and hoped that business community would cooperate with the bank in creating a congenial atmosphere for Islamic banking. Earlier, in his welcome address, RCCI president Dr Hasan Sarosh Akram said that being Muslims, business community should follow Islamic banking system. |
