KARACHI: State Bank of Pakistan (SBP) has issued the five-year (2014-2018) strategic plan for Islamic Banking Industry of Pakistan, ARY News reported.
Islamic banking represents 12 per cent of total banking system of Pakistan. The motive of designing strategic plan it to determine the way that accelerate the progress of Islamic banking Industry.
Furthermore, for creating awareness and better understanding among the media people, a two-day workshop on 'Islamic Banking' for them has been organised by State Bank in collaboration with Islamic banks operating in Pakistan here at SBP Headquarters, which began on Monday.
During the first day, Director, SBP's Islamic Banking Department, Saleemullah said the print and electronic media is the best tool for opinion making and mobilizing the people towards Islamic banking which is the fast growing mode of banking in the world including Pakistan.
“In Pakistan the serious efforts for promoting Islamic Banking were started in 2001 and tremendous response has been received”, he added.
Saleemullah further said that now, 1,300 branches of different banks are operating in Islamic banking in the country and the number is expected to double over next five years.