The Islamic financial system has experienced remarkable growth and transformation during the recent time, demonstrating its potential as a competitive form of financial intermediation.
Today, Islamic finance represents a multi-billion dollar industry with a comprehensive range of products and services, serving a broad spectrum of consumers and businesses that extends beyond the Muslim world. Being an alternative to the conventional banking system it has tremendous potential anywhere in the world.
I appreciate the efforts of all associated with organising this event and congratulate them on strategically timing this event in an environment where Islamic Banking is now playing a vital role in the economy.
This conference heralds a platform where key players from local and global financial markets can share their expertise and discuss new initiatives on the subject.
I am confident that the participants of the Conference will benefit form the papers and presentations being made by the renowned experts of the field. It is a platform for highlighting issues faced by Islamic banks which is quite instrumental in providing a level playing field to this system. State Bank of Pakistan will continue its support and facilitation in the development of a vibrant Islamic Banking Financial Market.
I would like to emphasise that Islamic Banking policies and instruments should be built on a strong platform and there should be a closer integration of regional and global Islamic financial markets, and this can only be achieved by sharing our collective wisdom, expertise, developing networks and investing in talent. I am confident that this conference will provide information which is vital for paving the way to reap future benefits.
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