Finance Minister Muhammad Aurangzeb has reaffirmed the government's commitment to transforming Pakistan’s economic system to make it fully Sharia-compliant, while highlighting the country's progress toward economic stability.

In a virtual address at the Islamic Capital Market Conference, Aurangzeb stated that Pakistan is steadily moving in the right direction regarding its economic stability. He emphasized that the country has the potential to emerge as a hub for Islamic finance, with the Islamic capital market playing a crucial role in this transformation.

“We are facing some financial challenges, but we must work together to resolve these issues,” Aurangzeb said, acknowledging the need for collective effort to address the country's financial difficulties.

The Finance Minister also pointed out the importance of sukuk bonds as a key element in facilitating interest-free loans. He noted that sukuk and other Islamic investment tools are vital in reducing Pakistan’s reliance on interest-based loans, furthering the country's shift toward an Islamic finance framework.

Aurangzeb's comments come at a time when Pakistan is working to strengthen its economic foundations and reduce its dependence on traditional financial mechanisms.