Al-Huda Islamic Banking and Economics Chief Executive Officer Zubair Mughal has said the Islamic Banking and Economics is never confined to Pakistan only, rather it is expanding world wide, including America and European countries.
He told the concluding ceremony of a two-day workshop on the "Islamic Banking and Takaful," held here at a hotel on Friday. There were 231 branches would begin working by the end of year and the total deposit of Islamic Banking had reached Rs 93 billion plus assets reaching Rs 136 billion.
Takaful Pakistan Chief Executive Officer Jamil Akhtar said the Al-Huda workshop was expanding the Takaful Network and it was the evidence of its bright future. "It has also attracted foreign direct investment into Pakistan since more companies are contemplating to open their networks in Pakistan," he said. He also explained the Takaful models in practice, saying the Wakalah - Waqf Model was more effective than Mudarba and other models working in many countries.
Peshawar University Vice Chancellor Muhammad Javeed Khan discussed the role of Islamic Banking and Takaful Education and Training to meet the needs. Pak Qatar Family Takaful National Sales Manager Saqib Zeeshan in his technical paper on the benefits of Takaful said his company was the first Takaful one in Pakistan offering Life Takaful. Representatives from Islamic Banking, Finance, account and insurance professionals also attended the workshop.
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