MULTAN, Oct 14th: Bank Islami's President Syed Aamir Ali has said that the future of Pakistan’s economy is directly linked with Islamic banking and Islamic banking contributes 15 percent share in the banking sector which needs to increase upto95 percent. With the initiation of BankIslami’s services, people in this part of the country would be greatly facilitated owing to the Shariah-compliant products being offered by the institution. He was addressing at a dinner hosted by Bank Islami in the honour of renowned industrialists and trading dignitaries. He said that the bank offers a full range of Shariah-compliant commercial banking products and services such as current accounts, savings accounts, foreign currency accounts, and term deposits.He said that Islam strictly prohibited interest as the Islamic financial system advocated the concept of participation in the enterprise, utilizing the funds at risk on a profit and loss sharing basis. Highlighting the products offered in the field of corporate banking, he said that the bank is offering working capital finance, medium and long term finance, leasing, Islamic export refinance scheme and structured finance, letter of credit, letter of guarantee, forward cover, bill purchase, car, and house financing. The dinner was attended by former Punjab caretaker Minister for Industries Khawaja Jalaluddin Roomi of Mehmood Group of Industries, Khawaja Muhammad Younas Ex-Chairman of All Pakistan Bedsheet & Upholstery Manufacturers Association( APBUMA) Khawaja Muhammad Iqbal, M.Anees Khawaja, Khawaja Salahuddin (Sharif Solvent Plant)Ch. Amanullah ( Brothers Dal factory)Khawaja Amir Hamza,Director( I & H)Malik Shoaib, Malik Owais Director Gulf Engineering, Naeem Bajwa, K.N Pharmaceuticals, Khalid Naeem( Lucky Rice Mills), Nasir Hameed Chaudhry (Chaudhry corporation) Jehanzeb (CEO Hassan Corporation)Muhammad Imran( Hamza CNG)Muhammad Aslam CEO (Rahim Cotton)Zia Sheikh (Global Co)Malik Sibghatullah Niazi and Javed Ansari MPA and others.
