Islamic banking seen growing beyond 15pc by 2016


Islamic banking should grow to over 15 percent by 2016 from its current share of 8 percent in the country’s banking industry. This was stated by Irfan Siddiqui, President and CEO of Meezan Bank which recently completed 10 years of Shariah-complaint banking in the country. He was outlining the broad growth strategy for Islamic banking in Pakistan for the next five years. In his telephonic address from Bahrain at the 10th anniversary of Meezan Bank, the bank’s chairman Sheikh Ebrahim Bin Khalifa Al-Khalifa attributed the bank’s growth and success to the blessings of God Almighty. He thanked the bank staffers for their efforts in the establishment and growth of Riba-free banking in Pakistan.


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