Governor Inaugurates ZTB Islamic Banking

Fahad Shabbir (@FahadShabbir) Published December 18, 2018 | 01:09 AM

LAHORE, (UrduPoint / Pakistan Point News - 17th Dec, 2018 ) :Punjab Governor Chaudhry Muhammad Sarwar Monday said the inauguration of Islamic banking setup by Zarai Taraqiati Bank Limited (ZTBL) was practical implementation of Prime Minister Imran Khan's vision of founding state of Madina in the country.

Addressing the inauguration ceremony of the ZTBL Islamic banking here, he said financial status of a farmer could be improved by increasing per acre production while more and more foreign exchange could be earned for the country by increasing exports.

The governor said it was important to produce new kinds of seeds in the agricultural sector and reduce the cost of production in order to compete with the international markets and bring about revolution in the agricultural sector of the country.

President ZTBL Shaikh Amanullah, members BoD ZTBL Afaq Tiwana, chairman Sharia board Mufti Ibrahim Isa and managing director (MD) Kisan support Services Limited Brigadier (retired) Zaheer Ahmed and bank officers attended the ceremony.

Chaudhry Sarwar said it was unfortunate that no research was conducted for the production of new kinds of seeds in the agriculture sector that was why the per acre produce remained low, adding that it was need of the hour to pay special attention to research in the agriculture sector.

The governor said the government would have to create linkages between agriculture universities and different agriculture research institutes. He welcomed the establishment of Islamic banking in the ZTBL, adding that the farmers could reap benefits from the Islamic banking as they would not have to get loans on interest basis.

He said the initiative of Islamic banking would serve as a game changer for the bank industry as well as the agriculture sector.

Sarwar said the development of agriculture sector in the country would bring about revolutionary improvements in the economy of the country.

Later, president ZTBL Sheikh Amanullah briefed the Governor about the working of the ZTBL in the industry, adding that the bank was traversing new roads of progress and development.