Islamic banking growth in Pakistan impressive: Attock Chamber

Islamabad:The Attock Chamber of Commerce and Industry (ACCI) said on Thursday that growth rate of Islamic banking in Pakistan is very impressive.

A decade back Pakistan had only one Islamic bank while now we have five Islamic banks and Islamic banking branches representing all the top ten conventional banks, it said.75 countries have recognised Islamic banking; major banks including HSBC, Citigroup, Deutsche Bank and Standard Chartered have Islamic banking branches or windows which prove success of Riba-free banking, said Tariq Mehmood, President Attock Chamber of Commerce. Over nine hundred Islamic banking branches in Pakistan speak of the confidence of the masses in the Islamic banking and the successful handling of regulator, he added.