'Future of Islamic Banking is very bright': SVP FCCI.

FAISALABAD -- Future of Islamic Banking in Pakistan is very bright but to harvest its full potential at the grass root level, 'Riba' should be eliminated instantly, said Dr. Sajjad Arshad Senior Vice President Faisalabad Chamber of Commerce and Industry (FCCI).

Addressing an awareness session on Islamic banking organized by the Bank Al-Falah Islami at FCCI here on Friday, he said that the share of Islamic banks and branches of Islamic banking was 54.5% and 45.5% respectively.

He said that currently five complete Islamic banks and Islamic windows of 17 traditional banks were working in Pakistan.

He further said that Islamic banking was decelerating at the global level but in Pakistan its growth is 17%.

He appreciated the efforts of Bank Al-Falah Islami and said that it should introduce new products to cater the entire needs of the business community strictly in accordance with the Islamic "Sharia". Mufti Aqeel Akhtar and Mufti Osama Ihsan, Sharia Advisors of Bank Al-Falah said that its services and products were in...