Islamic financial services awareness programmes

Daily Times: The State Bank of Pakistan (SBP) will host five Islamic financial services awareness programmes here from October 27-31, under the auspices of Islamic Financial Services Board (IFSB).

The programmes will be held in conjunction with the 13th Meeting of the Council of the Islamic Financial Services Board (IFSB), which is also being hosted by the State Bank of Pakistan in Karachi on October 29, a statement said on Thursday.

The programmes include the 3rd International Conference on Islamic Banking & Finance (Risk Management, Regulation and Supervision), co-organised with the Islamic Research and Training Institute (IRTI) and Islamic Development Bank (IDB), 2nd Public Lecture on Financial Policy and Stability, Interactive Session on the Financial Health of Islamic Financial Services, 5th International Seminar on Challenges facing the Independence of Shari’ah Supervisory Boards and Seminar on Monetary Operations and Liquidity Management

The Islamic financial services awareness programmes will be addressed by top executives from among the industry’s regulatory and supervisory bodies, as well as leading international experts in the Islamic financial services industry, the statement said. The chairperson of IFSB Council, Dr. Shamshad Akhtar (Governor, State Bank of Pakistan), while appreciating the efforts of IFSB, said that global interest in Islamic finance industry and Pakistan’s success in laying basic foundation and developing core infrastructure of Islamic financial system lends confidence that the country has good potential and prospects to further develop this industry.

Pakistan has shown a robust growth in Islamic banking, which can serve as a key vehicle to improve and strengthen the access to development finance by bringing in financial innovation that can cater adequately to diverse demands of the population as well as corporate sector’s and country’s infrastructure financing requirements, she said.

Secretary General of the IFSB, Professor Rifaat Ahmed Abdel Karim said, “Looking at the growing integration of the Islamic financial services industry into the global financial framework, it is imperative for the international financial community to keep itself abreast with the developments and issues inherent within the industry.