State Bank of Pakistan (SBP) Deputy Governor Saleemullah has stated that Islamic banking should not be limited to nomenclature but should be clearly reflected in practice. He said Islamic banking represents a transparent financial system, the practical demonstration of which was set 1,400 years ago by the Holy Prophet Muhammad (PBUH) through his trade practices.
Addressing the certificate distribution ceremony of Saylani School of Business and Islamic Leadership (SBIL), Mr Saleemullah urged banks and experts moving towards Islamic banking to become role models by upholding ethical values and ensuring that customers are fully aware that their transactions are free from hidden conditions. He said the business community was a national asset as it generated wealth and employment, adding that Islamic banking must be visible in action, not just in name