Daily Times

Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Yasir Ilyas Khan on Saturday called upon the government to take strong policy measures for further promoting the Islamic banking products for the private sector.

It would help in boosting the business activities and the overall economy. He said that the Pakistani nation has expressed more confidence in the Islamic banking products.

Expanding the network of Islamic Banking branches across the country would facilitate in expansion and diversification of businesses, purchasing industrial machinery and plants for upgradation and making investment in start-ups leading to creating more employment and speeding up the growth of the overall economy. President ICCI expressed these views after inaugurating Raast Islamic Banking Branch of the Bank of Khyber (BoK), said in a press release issued here.

Sardar Yasir Ilyas Khan congratulated the management of BoK for opening its Islamic Banking Branch in one of the important commercial centres of the federal capital and hoped that it would provide attractive products to the business community for the promotion of business.

He expressed appreciation for the leadership of BoK to spearhead the continued success of the bank and wished them many more achievements in future.

Speaking at the occasion, Muhammad Ali Gulfraz, Managing Director, Bank of Khyber thanked Sardar Yasir Ilyas Khan for inaugurating Raast Islamic Banking Branch of BoK. He informed that the BoK was established in 1991 through an Act passed by the Provincial Legislative Assembly and was awarded status of a scheduled bank in September 1994. He said that BoK now enjoys a unique position and stands out amidst other banks operating within Pakistan.