President: (Islamic Banking system to help alleviate poverty: President)

ISLAMABAD: President Mamnoon Hussain has said that Islamic Banking system will help alleviate poverty and eliminate social injustices.

He was addressing Islamic Banking Awards ceremony here on Monday. The President said Islamic banking is gaining popularity in the world.

He pointed out that the direction of the government in the Islamic Banking is right and the relevant institutions are working hard in this regard. He hoped that the Islamic Banking will fulfil the demands of just distribution of money and will have positive impact on country’s economy.

He called upon the State Bank of Pakistan to continue its research in the Islamic Banking and provide guidance to the banks.