State Bank of Pakistan has formulated an extensive five-year strategy to promote Islamic banking in the country. Deputy governor of the central bank Saeed Ahmed said that with present government demonstrating its seriousness towards Islamic banking, all possible measures are being explored to rejuvenate it. He said Pakistan is among first few countries that are aiming to Islamize its banking system. He said that under five-year strategy, the central bank will attempt to lift the market share to 20% from 10%. He said that the regulaor will not only hold consultations with business community but will also encourage the students to start research on this significant segment of banking which is growing swiftly at global as well as domestic financial sector.
