Govt moving ahead with introducing interest-free system: Dar
Business
Says the process will be gradual
ISLAMABAD (Dunya News) – The government is working on establishing an interest-free economic system, said Finance Minister Ishaq Dar, but added that entire structure could not be replaced overnight.
Dar, who was addressing the launching ceremony of Shariah-compliant products by National Savings, said the changes would be introduced gradually and noted that Islamic banking witnessed strong growth in recent years, with a 21 per cent share in the country’s banking.
“This is the first time that National Savings is introducing Shariah-compliant products,” he said. “We wish that these products will dominate in the coming years.”
He recalled that the Shariah-compliant products were one of the announcements made in the recently-announced budget.
