Meezan Bank Plays Key Role In Promoting Islamic Banking In Pakistan: FCCI President

Meezan Bank played a key role in introducing and promoting Islamic banking system in Pakistan, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI)

FAISALABAD, (UrduPoint / Pakistan Point News - 14th Nov, 2024) Meezan Bank played a key role in introducing and promoting Islamic banking system in Pakistan, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI).

Addressing an awareness session on Islamic banking, he said that Meezan Bank sensitized the business community to do business without Ribah. He said that 35% people were reluctant to involve themselves in traditional banking because it was based on interest. He said that Meezan Bank convinced them to embrace banking by launching Sharia compliant products. He said that it is the blessing of Allah Almighty that now Meezan Bank has emerged as the first and biggest Islamic bank of Pakistan with 1,000 plus branches across the country.

Bharara appreciated the professional approach of the local team of Meezan Bank and said, "We should not restrict ourselves to the Islamic banking but also keep in view the 'Halal and Haram' in other spheres of life.

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He appreciated the role of religious scholars who dispelled the apprehensions of the people about Islamic banking and expected that interest based banking system would be completely rooted out by 2028.

Mian Muhammad Yaseen Senior Area Manager introduced Meezan Bank and said that it had started its operation as the first Islamic commercial bank in 2002 and now 40 branches are operational in Faisalabad city alone.

He said that it is included among top five banks of Pakistan while it is ranked fourth in deposit handling. The religious scholars also highlighted the importance of Islamic banking and responded to the questions asked by the participants, he added.

Farooq Yousuf former Senior Vice President FCCI chaired the second session of the seminar.