ISLAMABAD - Dubai Islamic Bank (DIB) on Wednesday showed willingness to play its role in the disinvestment of public sector entities (PSEs) of Pakistan by offering its financial and technical support to assist the government in the upcoming disinvestment process.
A four-member delegation of Dubai Islamic Bank (DIB) led by its president/CEO Junaid Ahmad called on Finance Minister Senator Mohammad Ishaq Dar. Finance Minister Senator Ishaq Dar, while talking to Junaid Ahmad, said that the government is committed to increase the foreign exchange reserves to double digits by March and $16 billion by the end of the current year. In this connection several international financial institutions and international banks were now approaching the government, which is a testimony of the confidence they have in the economic policies of the present govt.
The finance minister said that the government is keen to promote Islamic anking in the country and has recently constituted a Steering Committee to fast track the of promotion of Islamic Banking in the country. He expressed the hope that the Government of Pakistan and DIB will work closely to achieve the fundamental objective of promoting Islamic banking besides increasing cooperation between them to facilitate trade and investment in Pakistan.
During the meeting, Junaid Ahmad expressed the desire that DIB is keen to work closely with the Government of Pakistan particularly in the promotion of Islamic banking in the country. Junaid Ahmad informed the finance minister that DIB is one of the pioneers of Islamic banking and has worked with various countries in advisory capacity to help them carry out transactions in Islamic mode. Dubai Islamic Bank (DIB), he said, was eagerly looking to play a role in the disinvestment of public sector entities and was ready to offer its financial and technical support to assist the Government of Pakistan in the upcoming disinvestment of Public Sector Entities. The issue of floating Sukuk Bonds and provision of trade facility to Pakistan also came under discussion.