Shariah-Compliant Financial Instruments Called to be Established in Pakistan: President Alvi

Dr Arif Alvi, President of Pakistan has called for the establishment of Shariah-compliant financial instruments in the country, at the 4th Round Table Conference (RTC-IV) on Islamic Banking held in Karachi on the 30th of August 2021.

Why it Matters?

President Alvi called for the establishment of Shariah-compliant instruments to promote spiritual satisfaction among people making use of loan facilities from banks. In addition, he stressed the need of creating awareness among women about loan facilities, and stated that the banking sector should take measures to provide loans to women to encourage the setting up of small businesses. President Alvi also urged banks to develop links with universities to support research on the latest trends and demands of the ma...