Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar addressed the launching ceremony of Sarwa Islamic Savings Products by National Savings at Finance Division today. The honorable Finance Minister warmly welcomed the guests and stated that it is an honor for him to inaugurate the Shariah compliant products by National Savings. 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. The Finance Minister further expressed the resolve and commitment of the government to promote Islamic finance and establish an interest-free system in Pakistan within a timeframe of 5 years. He also informed the participants that the Government has also constituted a high-level Steering Committee for this purpose, headed by Governor State Bank and being personally supervised by the Finance Minister himself. The committee is mandated to ensure smooth transition to Shariah Compliant economy. At the end, the Finance Minister commended the Finance Division and National Savings’ teams for this achievement, as this launch would mark the Shariah Compliant Retail Products at Government level for the first time in Pakistan.
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