The Federal Finance Minister Ishaq Dar said that efforts are being made to stabilize Pakistan’s economy.
The Speaking to the media in Islamabad, the Finance Minister said that the State Bank is trying its best to increase Islamic finance in Pakistan, while the Governor of the State Bank has worked hard in this regard because it will end poverty in Pakistan and promote development.
He further said that Islamic financing is spreading rapidly in the world and the trend of Islamic financing is increasing in the non-Muslim countries and through it the financial needs of the government can be met.
Ishaq Dar said that more than 16 thousand institutions are working for Islamic financing and 570 Islamic banks and the growth of Islamic financing has been about 17 percent and the volume of finance in Pakistan has been 42 billion dollars while in 2022 the entire system will The growth was 29 percent and currently the banking volume is 7 trillion rupees and the deposit volume is 5 trillion rupees.
Apart from this, he said that Islamic financing is very important for the economic development of Pakistan, while Islamic financing at the global level has reached more than 4 thousand billion dollars, but this finance will reach 59 thousand billion dollars by 2026.
He further said that efforts are being made to stabilize the economy and measures are being taken for the development of the country and if all the Islamic countries come together, these situations can be overcome.