Seminar urges promotion of Islamic banking for farmers.

TOBA TEK SINGH -- There is a need to help farmers, for which Islamic banking should devise real methods to combat their economic troubles, allowing them to adopt new technologies that would aid in achieving food security and contributing to a sustainable economy.

Prof Dr Iqrar Ahmad Khan, Vice-Chancellor of the University of Agriculture Faisalabad (UAF), stated this on Wednesday at a one-day seminar on 'Islamic Economy and Banking' organised by the Institute of Agriculture and Resource Economics, Office of Research, Innovation, and Commercialisation, UAF, the State Bank of Pakistan, and the Faisal Bank.

According to him, 95% of farmers in the country own less than five acres. He stated that our farmers are hesitant to adopt modern technology due to economic concerns. He said that it is necessary to increase the loans of banks in the field of agriculture. He said the UAF played a vital role in the agricultural policy.

State Bank Chief...