The rules aim to accelerate the growth of Islamic banking in Pakistan. PHOTO: BLOOMBERG
The role of the central bank, which regulates the banking industry, is far from satisfactory, which must be noticed, according to an FPCCI statement.
Reports of increased lending to different sectors were frequently published but the ratio of loans as compared to the GDP was on the decline, said FPCCI Regional Committee on Industries Chairman Atif Ikram Sheikh. The common depositors continued to get a negative return on their savings, which had eroded confidence in the banking system, he added.
Published in The Express Tribune, August 20th, 2017.
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