Summary The committee will submit its recommendations by 31st December 2014 and the State Bank of Pakistan.
ISLAMABAD (Web Desk) – Government has formed a ten-member steering committee for the promotion of Islamic banking in the country.
The committee has been constituted under the chair of Saeed Ahmad, Actuary/Banker and Maulana Mufti Muneeb-ur-Rehman, religious scholar, Muhammad Imran Usmani, religious scholar, Dr Waqar Masood Khan, secretary finance, Munir Kamal, banker, Afaq Khan, banker, Irfan Siddiqui, banker, Atif Bajwa, banker, Mian Muhammad Idrees, Industrialist and Director, Islamic Banking Department, State Bank of Pakistan as its members. Other members may be co-opted by steering committee, if required.
The committee will submit its recommendations by 31st December 2014 and the State Bank of Pakistan, Karachi will provide secretarial support to thecommittee. According to the notification issued by the Ministry of Finance, the committee would review previous official reports on Islamic banking. It would also formulate comprehensive policy framework for Islamic financial system and suggest practical steps needed to be taken to implement Shariah-based financial system.
