Shaikh Ebrahim Bin Khalifa Al-Khalifa, Bahrain’s minister for housing and chairman of Meezan Bank, has said that Pakistan has huge potential for project based financing in sectors including energy, health, food, pharmaceutical, housing for which Islamic banking industry has more suitable solutions. During a meeting of the senior officials of the State Bank of Pakistan, Shaikh Ebrahim, who is also chairman of the Board of Trustees Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), appreciated Pakistan’s pioneer position in Islamic banking and paid tribute to Mufti Taqi Usmani for his great contribution. While acknowledging the significant growth of Islamic banking in the country appreciated the role of SBP for establishing a conducive regulatory environment for the industry. He emphasized that the Islamic banking industry needs to play a critical role in enhancing the financial penetration level in the country.
