President Alvi advises banks to facilitate research students.

KARACHI -- President Dr Arif Alvi on Monday advised the banks to develop links with universities for nurturing the trend of conducting research on latest trends and demands of the market.

Speaking as a chief guest in the 4th Roundtable conference on Islamic Banking here, the President said why there was a need to establish separate organisation for research when the students of universities were carry out studies on a variety of topics as a requirement of MPhil and PhD studies.

He said the research students should be given guidance and patronage by the banking sector so as to align their efforts with the market requirements and modern trends. The banks would get the required researches while the students would be encouraged to work with more dedication, he added.

Dr Arif Alvi said the concentration of capital was painful and was too against the teachings of Islam as a good Islamic society opposed the accumulation of wealth. Transfer of inheritance of wealth and property immediately after death of a person was the also spirit of the teachings of Islam, he noted.

He also called for establishing Islamic Shariah Compliance Instruments in Pakistan. The president observed that the discrepancies between the rich and poor sections had largely increased during the period of 2014 to 2018.

The president said the institutions and organisations all over the world were being compelled to safeguard the interests of their customers, workers, society and also ensure justice. Dr Alvi also called for dedicating a proportion of loans by the banking sector for financing on women empowerment to enable them contribute positively in the sustainable development of the country.

Earlier, Federal Minister for Finance and Revenue, Shaukat Tarin, Advisor to the Prime Minister, Dr Ishrat Hussain, Governor State Bank of Pakistan, Dr Reza Baqir, Chairperson Pakistan Stock Exchange, Dr Shamshad Akhter, Chairman Shariah Board of Sindh Bank: Islamic Banking Division...