CM inaugurates first Islamic Banking branch of BoP

Lahore: Punjab Chief Minister Muhammad Shahbaz Sharif has said that former rulers committed corruption in the name of development projects and dacoity of billions of rupees in Bank of Punjab. He said that loans were obtained from the bank under fake names and in the name of board of directors of the bank and their closed mills were sold. The Chief Minister said that when PML-N came into power, the condition of Bank of Punjab was worst like the province. He said that we have strengthened Punjab economically through concrete and transparent policies. Similarly, Bank of Punjab has also been made strong through best administration, he added.

He was talking to media after inaugurating first Islamic Banking branch of Bank of Punjab at New Garden Town today. President Bank of Punjab Naeemuddin Khan, other staff of the bank and members assembly were also present on the occasion.

Talking to the bank officers, Chief Minister said that launching of Islamic banking branch is a praiseworthy step upon which we congratulate bank administration and the staff. He said that Islamic banking branch is an important progress and its scope would be further expanded. He said that Islamic banking should be promoted in the country and Punjab government will further promote Islamic banking. Shahbaz Sharif said that bank administration should evolve an effective strategy and programme for promoting Islamic banking.

Talking to media representatives, Shahbaz Sharif said that launching of Islamic banking branch is a good omen and banking on Islamic pattern has been started through this step and this programme will be further extended. He said that when PML-N came into power in 2008, the Bank of Punjab was facing financial crisis. He said that former rulers had ruined the bank through loot and corruption. The Chief Minister said that due to effective steps, bank has been purged of political interference and made a strong institution and now its performance is highly satisfactory. He said that previous government had made the entire Punjab a graveyard of corruption and a dacoity of 75 billion rupees was committed in Bank of Punjab. Replying to a question of media-men, Shahbaz Sharif prayed that politicians should agree to the names of caretaker set up with sincerity otherwise it would be very unfortunate. He said that we have proposed the names of honest and dutiful personalities for caretaker government. Shahbaz Sharif said that there is consensus in the entire nation from Karachi to Peshawar on the name of Justice (Retd.) Nasir Aslam Zahid. Similarly, Rasool Bukhsh Palejo is also a hard working and honest person. Shahbaz Sharif said that we have proposed the name of Justice (Retd.) Amir Raza for caretaker Chief Minister of Punjab who is an honest person and the nation has agreed over it. He said that Kh. Zaheer is also an able and honest person. If federal government proposed good and honest personalities, we would agree on them. However, PML-N will take final decision after consultation of party leaders in this regard. Replying to another question, the Chief Minister said that PPP has released its manifesto in the darkness of night but people cannot be hoodwinked as PPP has not provided roti, kapra and makan during five years and now they are trying to befool the masses. He said that it is the government of PPP which has emptied the national exchequer.

Earlier, Shahbaz Sharif inaugurated Islamic Banking Branch of Bank of Punjab, offered Dua and visited the branch. He also met the officers and officials of the branch and congratulated them on the inauguration of Islamic Banking Branch.