ISLAMABAD: Finance Minister Mohammad Ishaq Dar on Monday launched the Sarwa Islamic Savings Products by National Savings at Finance Division.
Speaking at the launching ceremony, he said that this initiative is in line with the Government’s decision to promote Islamic Financing, and these products shall cater to persistent public demand for safe investment avenues in line with the principles of Shariah.
He expressed the Government’s resolve and commitment to promote Islamic finance and establish an interest-free system in the country within five years.
The finance minister also told the delegates that the Government had also established a high-level steering group for this purpose, which was directly overseen by the finance minister and led by the governor of the State Bank. A smooth transition to an economy compliant with Shariah is required, which is the committee’s responsibility.
The Finance Minister praised the teams from the Finance Division and National Savings for their accomplishment, as this launch would mark the debut of Shariah Compliant Retail Products at the Government level in Pakistan.
