PCJCCI: Business must be in line with Shariah

LAHORE: Business and commercial activities should be coherent with the Shariah corridor and Islamic financial laws, said Pak-China Joint Chamber of Commerce and Industry President Shah Faisal Afridi, during a press conference. “Pakistan ranks number nine in the world when it comes to developing the Islamic financial services industry,” he said, adding that the country was the second largest Islamic market (population wise) after Indonesia and could become the most prominent player in Islamic banking and finance if it attains a 20% market share. He said the growth of Islamic banking in the country had been over 30% in the last few years and if the trend continued, then one should expect Islamic banking assets to at least double from its current size of Rs926 billion in the next three years.

Published in The Express Tribune, September 24^th, 2015.

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