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KARACHI, Aug. 5: The fourth National Islamic Economic Forum, organized by Saylani Welfare International Trust and the Saylani School of Business and Islamic Leadership, called for the complete transition of Pakistan’s commercial banking sector to Islamic banking by December 31, 2027.
The conference adopted a unanimous resolution urging all commercial banks, including the National Bank of Pakistan, to complete the shift without exemptions. Participants also emphasized the role of artificial intelligence (AI), blockchain technology, youth empowerment, and economic reforms in driving sustainable growth.
Minister of State and Chairman of the Pakistan Virtual Assets Authority Bilal Bin Saqib urged young Pakistanis to develop skills in AI, blockchain, programming, and robotics, saying technology is reshaping the global economy.
In a virtual address, State Bank of Pakistan Governor Jameel Ahmad reaffirmed the central bank’s commitment to expanding Islamic finance and supporting the country’s transition to a Shariah-compliant banking system.
SBP Deputy Governor Saleem Ullah said Islamic banking now accounts for about 29% of banking deposits and nearly 40% of financing. He added that all new domestic government borrowing from January 1, 2028, will be Shariah-compliant, with the required legal amendments to be completed by the end of 2027.
Speakers concluded that strengthening Islamic finance, investing in technology, and equipping young people with modern skills are essential for Pakistan’s long-term economic growth.
