KP Government planning to promote Islamic banking which would be Interest free. (source)
Recently Khyber Pakhtunkhwa Government Senior Minister Sirajul Haq asked the Bank of Khyber (BoK) officials to promote interest free banking among the old customers and new customers and encourage customers to go for Islamic banking instead of conventional banking.
Siraj ul Haq who is Jamaat-e-Islami leader said that developed countries of the world are taking leading in introducing interest free banking. He said that Islamic banking is not only in Pakistan but also in European countries and United States and currently more than $600 billion investment is being made in interest free Islamic banking all around the world. The Minister hoped that BoK Islamic branches will perform better than the other banks and motivate customers.
An official of Meezan Bank, the first Islamic Bank of Pakistan, while commenting on this said that it is a very good spirit by the minister and Meezan Bank will also focus in the Khyber Pakhtunkhwa province.
