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Islamic Banking has Potential to Boost Financial Inclusion in Pakistan: State Bank of Pakistan

Islamic Banking has Potential to Boost Financial Inclusion in Pakistan: State Bank of Pakistan

November 30, 2020

http://islamicmarkets.com/articles/islamic-banking-has-potential-to-boost-financial-inclusion-in-pakistan
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By IM Insights

The Islamic banking industry has great potential to improve financial inclusion in Pakistan, according to Seema Kamil, Deputy Governor of the State Bank of Pakistan (SBP).

Addressing the inaugural session of the Islamic Finance Expo & Conference held on the 26th of November 2020, Kamil stated that the SBP fully supported the Islamic banking industry in Pakistan and added that the industry could enhance the outreach of Shariah-compliant financial services.

Local media reported that the SBP was making strides towards achieving targets set under the National Financial Inclusion Strategy for Islamic banking, which is expected to reach 25% share in total assets and deposits and 30% s...