KARACHI: Pakistan’s Bank Islami has launched a nationwide outreach program to advance Islamic banking and supporting a Riba-free financial system in the country, it said on Friday.
Under the initiative, the bank’s regional team leaders are holding on-ground awareness and advocacy sessions with officials across the country to promote greater understanding and adoption of Shariah-compliant financial solutions and pave the way for Riba-free alternatives.
“This outreach program aligns with Bank Islami’s broader mission to promote Shariah-compliant financial inclusion and support policies that encourage ethical banking practices throughout the country,” the bank said in a statement.
The Pakistani central bank said in May that Islamic banking assets had for the first time reached Rs11.5 trillion ($40.7 billion) by the end of March 2025 as the country actively moved toward implementing a fully Shariah-compliant financial system.
In April 2022, Pakistan’s Federal Shariat Court (FSC) had directed the government to eliminate Riba, or interest, and align the country’s entire banking system with Islamic principles by 2027.
