Successful launch of Nationwide Road Show to promote Islamic Banking and Takaful

National awareness campaign “Road Show 2014” has started today  from Peshawar to promote the Islamic Banking and takaful, to trim down the rising criticism and objection on Islamic finance, thriving the Islamic Financial methods in Shariah perspective in the country to get rid of interest element by benefitting Islamic Banking and Finance. The awareness campaign named as “Khyber to Karachi” Road Show 2014 which will pass through 30 different cities of Pakistan from Khyber to Karachi, will conduct 100 free seminars and workshops especially in Chambers of Commerce and Industries, Trade Associations, Universities, Professional Institutes and Industrial Estates to equally benefit the businessmen, industrialists, professional experts and students.

Stating the objectives of nationwide awareness campaign “Road Show 2014”, the Organizer, Muhammad Zubair Mughal, Chief Executive Officer – AlHuda Center of Islamic Banking and Economics (CIBE) said that the prime objective of the Road Show is to enhance the awareness of Islamic Banking and Finance among the masses and to eradicate the objections that has been put on Islamic banking and finance through different propagandas. He said that the promotion of Islamic banking and finance is necessary for the economic development and prosperity where we can benefit the agriculturists, industrialists and the whole economy with Islamic financial services by strengthening our financial institutions and also the Sukuk (Islamic Bonds) can be strengthened and poverty can be alleviated through the Islamic microfinance.

He said that the rationality behind Islamic financial system can be observed in the recent global financial crisis where thousands of interest based financial institutions were ruined but no Islamic financial institute was adversely affected by such upheaval although there are more than 1500 Islamic financial institutions working with interest free modes such as Asset Based Financing under ethical practices around the globe and number of international financial institutions are transforming towards the Islamic Banking and Finance. He said that Alhamdulillah, today, we started the awareness campaign “Road Show 2014” from Peshawar followed by seminars in University of Peshawar, Agriculture University of Peshawar and Khyber Pakhtunkhwa Chamber of Commerce and Industry etc and this road show, passing through 30 different cities, will conclude after a long way of 3 months at Karachi. After the Road Show a comprehensive report on Islamic Banking in Pakistan will be published.

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