SECP for charting Islamic finance roadmap

ISLAMABAD:

Securities and Exchange Commission of Pakistan (SECP) Chairman Aamir Khan on Monday suggested the establishment of a high-level steering committee tasked with charting an effective roadmap encompassing all areas of the Islamic finance ecosystem to promote Islamic finance in the country.

The suggestion came in his address at the World Islamic Finance Forum’s conference on “Development of Islamic Finance Ecosystem for Global Prosperity”.

The SECP chairman also recommended tax incentives for companies, whose financing needs were principally met through the capital market’s Islamic instruments.

“This will be the preferred approach than reviving the 2% flat incentive,” he said, adding that protection, justice, fairness and society’s wellbeing were the key goals of Islamic finance.

Published in The Express Tribune, May 31^st, 2022.

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