Lahore – Strong banking sector is a must for the Business and economic growth. Pakistan can become a regional hub for Islamic Banking if proper regulatory reforms are introduced.
These were the views expressed by the speakers at the seminar held on ‘Banking for Business and Economic Growth’ at a local hotel here.
The speakers who spoke on the occasion included National Bank of Pakistan Executive Vice President S H Irtiza Kazmi, Punjab Provincial Cooperative Bank SVP Asrar-ul-Haq, Lahore Chamber of Commerce President Ijaz Ahmad Mumtaz, Editor in Chief Daily Pak Banker Ajmal Shah Din and Editor Javid Mehmood.
The speakers urged the world to concentrate on the development of interest free banking through the Islamic Banking system.
Punjab Provincial Cooperative Bank Business Development Israrul Huq said that PPCBL has been serving the agricultural sector of the country which has a great unexploited potential and playing vital role in the business activities and economic development of the country.
National bank of Pakistan ESVP Irtza Kazmi said financial inclusion means how we can include as much as people in the financial sector within the society and the community.
He said that according to World Bank Report our half of the world adult population just 2.5 billion people has been using financial services. Overvalue majority of the people which is unbanked is 9 percent of the population is in the developing countries. Greater financial inclusion of the people put positive effect on economic growth, financial stability and social cohesion.