MoU signed to promote Islamic finance in France
Lahore (Staff Reporter): Islamic finance is not confined to Middle East or Muslim countries rather it has gripped its roots in European countries and America as well. And the determination and efforts to become financial hub of London is the distinct example of the promotion of Islamic banking and finance. There is no denying the fact that the organizations of Islamic finance are rapidly growing in European countries and France is one of the destinations of the list.AlHuda Centre of Islamic Banking and Economics and SAAFI have signed an MoU in Paris that was signed by M Zubair Mughal, CEO AlHuda CIBE, and Ezzedine Ghlamallah, Director SAAFI.
M. Zubair Mughal said that France is the country that identifies the largest Muslim community in Europe with nearly 6 million Muslim residents that is 9% of the total population of France. It is to be noted that Islamic finance is not only the interest of Muslim population rather non Muslim are taking good interest in Islamic finance. There are various non Muslim countries where Islamic banking and finance is providing their customers state-of-the-art services above all religious differences.
He added that according to this MoU, both organizations will work together to strengthen the abilities of Islamic banking and finance in France, and to provide technical and Shariah advisory, trainings and other services. He said that AlHuda CIBE is keeping an eye on Islamic banking and finance of European countries and AlHuda CIBE and SAAFI will mutually conduct training workshops on Islamic banking and finance on 23rd & 24th June in Paris.
Better policies key to promote trade in services
Lahore (Staff Reporter): Better policies are key to promote trade in services which could be achieved by deeper reciprocal liberalization with trade partners and greater regulatory cooperation where the Pakistani service providers/professionals will get access to the foreign markets. This was stated by Malcolm Boswoth, an international expert on trade in services, who was delivering lecture at the training organized at Lahore by the International Trade Centre (ITC) under the European Union funded TRTA II programme. The TRTA II programme is funded by the European Union which aims at enhancing export competitiveness of Pakistan.
The programme has three main components where Component 1 is about trade policy capacity building and is implemented by the International Trade Centre (ITC). The training course is jointly conducted by ITC and PITAD in collaboration with the Punjab Department of Industries, Commerce and Investment, Lahore. Professor Malcolm Bosworth hails from the University of Bern, World Trade Institute, Switzerland.
Sajid Hussain, Director General PITAD appreciated the efforts of ITC in developing institutional capacity of Pakistani training and research organizations. He emphasized the need to develop services sector and allocation of additional government funding and resources to promote the Services particularly health sector.
Sher Afgan, Director General Trade Development Authority of Pakistan emphasized the need to promote Trade in Services which according to him is an important contributor to the country’s economy. He highlighted that TDAP is providing every possible assistance to the service providers at domestic level. He flagged the importance of domestic commerce and better service quality contributing to exports in that sector.
Mr. Mohammad Owais Khan Programme Officer International Trade Centre introduced the EU funded TRTA II programme and highlighted the assistance provided by ITC to local training and research organizations to build their institutional capacity. He flagged the MOU facilitated by ITC between PITAD and the World Trade Institute which has contributed immensely to the capacity building of Pakistani policy makers. He vowed that ITC will continue to provide technical assistance to Pakistani institutes to enable them to benefit from international trade. He particularly flagged the need to develop expertise and capacity in trade in Services.
Diamer-Basha, Dasu dams to help overcome energy crisis
ISLAMABAD (NNI): Analyst Dr Nasir Jamal has said that Neelum Jhelum Hydroelectric Project, Diamer-Bhasha Dam, Dasu dam and other energy projects will help to overcome the energy crisis. He said that Pakistan’s export increased in spite of the energy crisis and other challenges faced by the country. He said that current indicators showed that Pakistan’s economy is improving and rupee appreciates against dollar first time in country’s history. He maintained that government is empowering youth through the PM Youth Loan Scheme. Chief Coordinator Prime Minister’s Youth Skills Development Programme Maiza Hameed has said the State Bank is facilitating scrutiny process of Youth Loan Scheme.
She said loan is being disbursed in a transparent manner and National Bank has made a committee to deal with these applications.
Pak traders invited to Cuba
ISLAMABAD (NNI): Republic of Cuba has invited Pakistani business community to explore opportunities in the upcoming international expo being held in Havana. Pakistani business community can have a chance to build bridges with participants from seventy countries which are taking part in this mega event, said Ambassador of Cuba to Pakistan Jesus Zenen Buergo Concepcion. Talking to a delegation of businessmen led by President FPCCI Zakria Usman, we want enhanced commercial, political and cultural ties with Pakistan. Concepcion said that Pakistani textiles, sports goods, surgical instruments, leather goods, handicrafts, marble and rice are greatly admired in his country but the volume of bilateral trade does not reflect our cordial ties.
He said that he will push the Cuba Chamber of Commerce for linkages and exchange of delegations with FPCCI.
LCCI holds seminar
Lahore (Staff Reporter): Intra-family marriages in which Hemophilia or other bleeding disorders are prevailing are the biggest cause of Hemophilia therefore a campaign should be launched to overcome the disease. This was the upshot of the speeches delivered at a function arranged by Sundas Foundation in collaboration with the Lahore Chamber of Commerce and Industry on Thursday in connection with International Hemophilia Day. Chairman Sundas Foundation Monnoo Bhai, LCCI President Engineer Sohail Lashari, President Sundas Foundation Yasin Khan and Professor Dr Aslam Khan were prominent among the speakers.
The LCCI President Engineer Sohail Lashari said that the government should ensure that the citizens are provided with a free-of charge blood screening facility. He also stressed the need for public awareness campaign to make the country free from this disease.