{"id":78455,"date":"2024-10-19T00:21:14","date_gmt":"2024-10-18T19:21:14","guid":{"rendered":"https:\/\/bankislami.com.pk\/?p=78455"},"modified":"2024-11-07T18:44:09","modified_gmt":"2024-11-07T13:44:09","slug":"bankislami-aims-to-redefine-pakistans-financial-landscape-with-riba-free-banking-for-all","status":"publish","type":"post","link":"https:\/\/bankislami.com.pk\/ur\/bankislami-aims-to-redefine-pakistans-financial-landscape-with-riba-free-banking-for-all\/","title":{"rendered":"BankIslami aims to redefine Pakistan\u2019s financial landscape with Riba-free banking for all"},"content":{"rendered":"<div class=\"entry-header\">\n<h4 class=\"entry-title\">BankIslami, one of Pakistan\u2019s top Islamic financial institutions, has launched an initiative to make its riba-free banking services more accessible to people of all faiths and backgrounds.<\/h4>\n<p>&nbsp;<\/p>\n<\/div>\n<p>The initiative underscores the bank\u2019s commitment to advancing ethical and inclusive banking within the country\u2019s financial system, in line with Shariah principles and social responsibility.<\/p>\n<p>Riba, or interest, is prohibited in many religions due to its exploitative nature, which makes Islamic banking attractive to people across faiths by offering fair, transparent financial alternatives.<\/p>\n<p>&nbsp;<\/p>\n<p>The global Islamic finance industry, valued at over $3 trillion, continues to grow, driven by the increasing demand for Shariah-compliant solutions.<\/p>\n<p>The launch event, held at Mohatta Palace in Karachi, saw attendance from prominent figures including Governor of the State Bank of Pakistan Jameel Ahmad, Deputy Governor Saleem Ullah, and IG\u00a0Sindh Ghulam Nabi Memon, reflecting wide support for BankIslami\u2019s efforts in promoting financial inclusivity.<\/p>\n<p>Governor Jameel Ahmad highlighted the State Bank\u2019s vision of a fair financial system accessible to everyone. &#8220;BankIslami\u2019s mission to &#8216;save humanity from riba&#8217; reinforces the need for inclusive banking. The State Bank fully supports the growth of Islamic banking in Pakistan,&#8221; he said.<\/p>\n<p>Rizwan Ata, CEO of BankIslami, said the initiative aligns with Quaid-e-Azam Muhammad Ali Jinnah\u2019s vision of equality. \u201cBy providing riba-free solutions, we aim to build trust and foster transparency within Pakistan\u2019s banking sector,\u201d he stated.<\/p>\n<p>Deputy CEO Imran H. Shaikh added, \u201cIslamic banking is not just for Muslims; it\u2019s for anyone who believes in fairness. At BankIslami, we\u2019re creating a banking experience that respects and includes everyone.\u201d<\/p>\n<p>BankIslami has collaborated with clerics from various religious backgrounds to build trust and understanding around the benefits of Islamic finance. This initiative aims to provide previously excluded communities and individuals with access to a fair and ethical banking system, promoting shared risk, asset-backed transactions, and a focus on social responsibility.<\/p>","protected":false},"excerpt":{"rendered":"<p>BankIslami, one of Pakistan\u2019s top Islamic financial institutions, has launched an initiative to make its riba-free banking services more accessible to people of all faiths and backgrounds. &nbsp; The initiative underscores the bank\u2019s commitment to advancing ethical and inclusive banking within the country\u2019s financial system, in line with Shariah principles and social responsibility. Riba, or&#8230;<\/p>","protected":false},"author":3,"featured_media":78456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[],"class_list":["post-78455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates"],"_links":{"self":[{"href":"https:\/\/bankislami.com.pk\/ur\/wp-json\/wp\/v2\/posts\/78455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bankislami.com.pk\/ur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bankislami.com.pk\/ur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bankislami.com.pk\/ur\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/bankislami.com.pk\/ur\/wp-json\/wp\/v2\/comments?post=78455"}],"version-history":[{"count":1,"href":"https:\/\/bankislami.com.pk\/ur\/wp-json\/wp\/v2\/posts\/78455\/revisions"}],"predecessor-version":[{"id":78457,"href":"https:\/\/bankislami.com.pk\/ur\/wp-json\/wp\/v2\/posts\/78455\/revisions\/78457"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bankislami.com.pk\/ur\/wp-json\/wp\/v2\/media\/78456"}],"wp:attachment":[{"href":"https:\/\/bankislami.com.pk\/ur\/wp-json\/wp\/v2\/media?parent=78455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bankislami.com.pk\/ur\/wp-json\/wp\/v2\/categories?post=78455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bankislami.com.pk\/ur\/wp-json\/wp\/v2\/tags?post=78455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}