Masses moot urged to promote Islamic financial system in Pakistan
Bankers, businessmen and economic experts urged masses to adopt Sharia-based banking and insurance in their need of daily lives and businesses. Speaking at the Second Islamic Financial Expo and Conference (IFEC) held at local hotel on Thursday, they enlightened participants about the potential of Islamic banking, hereafter underlining the need of awareness and penetration of Islamic banking and Takaful services across the country. Islamic banks are very active in introducing different products to the customers which not only meet their demands at commercial and domestic levels but also fulfill Sharia principles. However, there are loopholes in the Islamic banking industry which must be addressed mutually by banks, regulator and the government.