Pakistan minister expresses confidence in push to Islamize banking sector, vows full support
Pakistan minister expresses confidence in push to Islamize banking sector, vows full support /node/2283276/pakistan
Pakistan minister expresses confidence in push to Islamize banking sector, vows full support
In this picture taken on January 11, 2022, a foreign currency dealer counts US dollar notes at a shop in Karachi. Pakistan's inflation hit about 10 percent last year, according to the World Bank, with cooking oil prices up 130 percent since Prime Minister Imran Khan took power, as well as the cost of fuel up 45 percent.
Pakistan minister expresses confidence in push to Islamize banking sector, vows full support
In 2021, Pakistan’s Federal Shariat Court had directed government to purge banking system of interest by 2027
Pakistan last year established a dedicated wing at the central bank to ensure the economic transformation
Updated 08 April 2023
ARAB NEWS PAKISTAN
ISLAMABAD: Pakistan’s Finance Minister Ishaq Dar on Friday reposed his confidence in the country’s push to free its banking sector of Riba (interest), the finance ministry said, following a meeting to review progress on the matter.
Pakistan’s Federal Shariat Court (FSC), which determines whether Pakistani laws comply with Islamic law, had directed the government in 2021 to eliminate interest from the country’s banking system by December 2027.
In November last year, Dar had said a dedicated wing would soon be established at the State Bank of Pakistan (SBP) to ensure the country’s transformation into an interest-free economy to comply with the FSC ruling.
On Friday, Dar chaired a meeting to discuss the demand-and-supply-side challenges being faced by the task force in eliminating Riba from the financial system, which deliberated upon various measures to be taken to address those challenges within the timeframe.
“The Finance Minister also expressed his confidence that under the chairmanship of Governor, State Bank of Pakistan, the Steering Committee will able to complete the task efficiently,” the finance ministry said in a statement.
“He further instructed all the stakeholders to work with commitment, sincerity and understanding to overcome all the hurdles in the way of implementation of interest free system and making the system feasible and stronger that all citizens would aspire for it.”
At present, the share of Islamic banking in the overall commercial banking system in Pakistan is around 20 percent. The South Asian country has six full-fledged Islamic banks offering a wide range of products and the annual growth rate of Islamic banks’ assets and deposits has been 25 percent and 22 percent respectively over the last five years, according to central bank data.
Dar emphasized the commitment of the government to promote Islamic finance and eliminate interest-based system from Pakistan in “true spirit” and assured his ministry’s complete support in achieving the desired objectives.
82 killed in three days of Pakistan sectarian violence
Mobile network across Kurram is suspended and traffic on main highway remains halted amid tensions
Around 300 families fled on Saturday as gunfights with light and heavy weapons continued into the night
Updated 11 min 33 sec ago
AFP
PESHAWAR: Three days of bitter sectarian gunfights in northwestern Pakistan have killed at least 82 people and wounded 156 more, a local official said Sunday.
Pakistan is a Sunni-majority country but Kurram district in Khyber Pakhtunkhwa province — near the border with Afghanistan — has a large Shiite population and the communities have clashed for decades.
The latest bout of violence began on Thursday when two separate convoys of Shiite Muslims traveling under police escort were ambushed, killing at least 43 and sparking two days of gunbattles.
“The clashes and convoy attacks on November 21, 22, and 23 have resulted in 82 fatalities and 156 injuries,” said a local administration official speaking on condition of anonymity.
“Among the deceased 16 were Sunni, while 66 belonged to the Shia community,” he told AFP.
Around 300 families fled on Saturday as the gunfights with both light and heavy weapons continued into the night, however no fresh casualties were reported on Sunday morning.
“The mobile network across Kurram remains suspended and traffic on the main highway is halted,” said the local administration official.
Police have regularly struggled to stymy violence in Kurram, which was part of the semi-autonomous Federally Administered Tribal Areas until it was merged with Khyber Pakhtunkhwa in 2018.
A delegation from the provincial government held talks with the Shiite community on Saturday and is scheduled to meet the Sunni community later on Sunday.
A security official in the provincial capital of Peshawar told AFP the negotiators’ helicopter had come under fire as it arrived in the region, although no one was harmed.
“Our priority today is to broker a ceasefire between both sides. Once that is achieved, we can begin addressing the underlying issues,” provincial Law Minister Aftab Alam Afridi said Sunday.
Last month at least 16 people, including three women and two children, were killed in a sectarian clash in Kurram.
Previous clashes in July and September killed dozens of people and ended only after a jirga, or tribal council, called a ceasefire.
The Human Rights Commission of Pakistan said 79 people died between July and October in sectarian clashes.
Several hundred people demonstrated against the violence on Friday in Pakistan’s second largest city of Lahore and Karachi, the country’s commercial hub.
ISLAMABAD: Pakistani director Iram Parveen Bilal this week bagged the Best Director Feature Film award at the fifth Yellowstone International Film Festival, held in India’s New Delhi, for her film “Wakhri.”
Wakhri, meaning one of a kind in the Punjabi language, was inspired by the life of murdered Pakistani social media celebrity Qandeel Baloch. The film’s plot revolves around the challenges faced by a widowed schoolteacher named Noor, who becomes a social media sensation overnight.
Yellowstone International Film Festival is an Indian film festival that showcases films from around the world, providing a platform for filmmakers. With special categories such as women empowerment films, environmental films and student films, this year’s YIFF was held from Nov. 15-20 in New Delhi.
“Thank you for the honor, [YIFF] jury and organizers,” Bilal wrote on Instagram on Thursday. “[Wakhri] shines brightest with its audiences. Deep gratitude to my entire team, cast and crew alike, for enhancing my vision every step of the way.”
Wakhri had its world premiere at the Red Sea International Film Festival in December 2023 before its release in Pakistan on Jan. 5 this year.
Written by Bilal and Mehrub Moiz Awan, Wakhri has been produced by Abid Aziz Merchant, Apoorva Bakshi and Bilal’s Parveen Shah Productions.
The film stars prominent Pakistani actress Faryal Mehmood in the lead role, Gulshan Mated, Sajjad Gul, Salem Mairaj, Sohail Sameer, Bakhtawar Mazhar, Akbar Islam, Tooba Siddiqui, Behjat Nizami and Bushra Habib.
PESHAWAR: Pakistan has reported three new cases of poliovirus, two from the southwestern Balochistan province and one from the northwestern Khyber Pakhtunkhwa (KP), the country’s polio eradication program said on Sunday, pushing this year’s total tally of cases to an alarming 55.
Pakistan, along with neighboring Afghanistan, remains the last polio-endemic country in the world. The nation’s polio eradication campaign has faced serious problems with a spike in reported cases this year that have prompted officials to review their approach to stopping the crippling disease.
On Friday, Pakistan reported two poliovirus cases from the KP province.
“The Regional Reference Laboratory for Polio Eradication at the National Institute of Health has confirmed the detection of three wild poliovirus type 1 (WPV1) cases in Pakistan, bringing the number of total cases in the country this year to 55,” the polio eradication program said in a statement.
Two out of the three cases were reported from Balochistan’s Zhob and Jaffarabad districts while one was reported from the northwestern Dera Ismail Khan district.
The program said that D.I. Khan is one of the seven polio-endemic districts of southern KP which has now reported six polio cases this year. Zhob has reported its third polio infection while Jaffarabad its second this year.
Out of a total of 55 cases reported this year, Pakistan has reported 26 from Balochistan, 14 from KP, 13 from Sindh and one each from Punjab and Islamabad.
Poliovirus, which can cause crippling paralysis particularly in young children, is incurable and remains a threat to human health as long as it has not been eradicated. Immunization campaigns have succeeded in most countries and have come close in Pakistan, but persistent problems remain.
In the early 1990s, Pakistan reported around 20,000 cases annually but in 2018 the number dropped to eight cases. Six cases were reported in 2023 and only one in 2021.
Pakistan’s polio program began in 1994 but efforts to eradicate the virus have since been undermined by vaccine misinformation and opposition from some religious hard-liners, who say immunization is a foreign ploy to sterilize Muslim children or a cover for Western spies. Militant groups also frequently attack and kill members of polio vaccine teams.
Pakistan’s chief health officer this month said an estimated 500,000 children had missed polio vaccinations during a recent countrywide inoculation drive due to vaccine refusals.
“Considering the intense polio outbreak, it is crucial for parents to ensure vaccination for all their children under the age of five to keep them protected,” the program said.
ISLAMABAD: Pakistan’s religious affairs ministry on Sunday announced it had launched the “Pak Hajj 2025” mobile application to guide and facilitate pilgrims about the annual Islamic pilgrimage next year.
Saudi Arabia has allotted Pakistan a total quota of 179,210 pilgrims for the upcoming Hajj pilgrimage. Around 15 designated Pakistani banks on Monday started receiving applications for Hajj 2025 from intending pilgrims.
Pakistani pilgrims used the app, which is available for both Android and iPhone, last year to secure important updates and information about the Hajj pilgrimage.
“The Ministry of Religious Affairs has launched the mobile app ‘Pak Hajj’ for the awareness of Hajj pilgrims,” the religion ministry said in a statement.
“Hajj applicants will remain informed step-by-step through the Pak Hajj app.”
The ministry said pilgrims can view their Hajj training schedules, including dates, times, and locations, through the app, which also displays flight details with flight numbers, departure cities, dates, and times for both departure and return flights.
The app also presents information about Makkah and Madinah’s various locations and routes with the help of maps, the ministry said.
Pakistan’s religious affairs minister this month announced the country’s Hajj 2025 policy, according to which pilgrims can pay fees for the annual Islamic pilgrimage in installments for the first time.
The first installment of Hajj dues, amounting to Rs200,000 ($717), must be deposited along with the Hajj application under the government scheme, while the second installment of Rs400,000 ($1,435) must be deposited within ten days of the balloting. The remaining amount must be deposited by Feb. 10 next year.
ISLAMABAD: Pakistan’s interior ministry confirmed that Internet services will be suspended in areas where there were security concerns today, Sunday, as Islamabad braces for a planned protest by former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party.
Pakistani users reported slow Internet services in many parts of the country on Saturday night, with independent Internet watchdog NetBlocks confirming WhatsApp backends were restricted.
The development takes place ahead of the PTI’s “long march” to the capital on Sunday. The party is seeking the release of the jailed Khan, who has been in prison for well over a year, and to challenge alleged rigging in the February general elections. The PTI also seeks to highlight its concerns about judicial independence, which it claims has been undermined by the 26th Constitutional Amendment, a charge denied by the government.
The National Counter Terrorism Authority (NACTA) earlier this week warned militants belonging to the banned Tehreek-e-Taliban Pakistan (TTP) had entered Pakistan from Afghanistan and infiltrated major cities. It said the militants could target the PTI’s protest march.
“Mobile data and Wi-Fi services will be suspended only in areas with security concerns,” a federal interior ministry spokesperson said in a statement.
“Internet and mobile services will continue to operate as usual in the rest of the country.”
A worker places shipping containers to close a road ahead of a planned rally by supporters of imprisoned former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf party, in Islamabad on November 23, 2024. (AP)
The Pakistan Airports Authority (PAA) in a separate statement assured people that all operations at airports across the country, including the Islamabad International Airport, are “running smoothly and without disruption.”
“We categorically refute the baseless rumors regarding a 72-hour stay for international passengers at Islamabad International Airport,” the PAA said. “This claim is completely false and misleading.”
The PAA’s statement comes amid stringent security measures taken by authorities over the past few days to preempt potential disruptions, sealing off motorways and key roads leading to Islamabad with shipping containers.
The National Highways and Motorway Police (NHMP) stated on Friday that it had shut down major highways based on intelligence reports indicating that protesters might carry sticks and slingshots and attempt to disrupt public order.
A paramilitary soldier stands guard as a motorcyclist drives on a highway, which is partially closed with shipping containers ahead of a planned rally by supporters of imprisoned former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf party, in Islamabad on November 23, 2024. (AP)
Additionally, a ban on public gatherings has been imposed in Punjab until November 25, while the Metro Bus service between Islamabad and Rawalpindi will remain suspended on November 24.
Pakistan’s parliament earlier this year passed legislation regulating public demonstrations in the capital, including designated protest areas and specific timings for rallies. Violators risk imprisonment of up to three years for illegal gatherings and up to 10 years for repeat offenses.
The interior ministry has also deployed paramilitary forces, including Punjab Rangers and Frontier Corps personnel, in Islamabad to maintain order during the PTI’s planned demonstration. ‘NO COMMUNICATION ON ANY LEVEL’
Pakistan’s Information Minister Ataullah Tarar on Saturday denied any negotiations with the PTI, warning of arrests if anyone joined the demonstration on Sunday.
The Islamabad High Court (IHC) had directed the government to engage in talks with PTI leadership regarding the protest, emphasizing the need to avoid disruptions during the three-day visit of Belarusian President Aleksandr Lukashenko starting Monday.
The court hoped the PTI would have “meaningful communication” with the government, acknowledging that law and order would be the administration’s priority if there was no breakthrough.
“There is no communication on any level,” Tarar said during a news conference, adding that Interior Minister Mohsin Naqvi’s contact with PTI Chairman Gohar Ali Khan was limited to informing him of the IHC order that “declared protests, rallies, sit-ins and marches illegal.”
Vehicles use alternate way on road, which closed with shipping containers ahead of a planned rally by supporters of imprisoned former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf party, in Islamabad on November 23, 2024. (AP)
“The court’s directive is clear, and anyone who attempts to protest will be arrested and face legal consequences,” he continued. “There is no confusion on our part.”
However, chief minister of Pakistan’s northwestern Khyber Pakhtunkhwa province, Ali Amin Gandapur, a close aide of the jailed former prime minister, reiterated the call to all Pakistanis to join the protest during the day.
“It is imperative for us to leave our homes to protest the illegal incarceration of Imran Khan and stage a demonstration at D-Chowk on Nov. 24,” he proclaimed in a video message on Saturday, referring to a high-security area located right next to sensitive government installations like Parliament, Presidency and the PM House.
