TIMERGARA  - Senior Provincial Minister Jamaat-i-Islami Sirajul Haq has said that interest-free banking was the only way to economic development.

He was addressing the inaugural ceremony of the Bank of Khyber (BoK) at Kumbar Maidan on Friday. “It is the 44th branch of the bank in Pakistan which would get rid people of interest,” he said.

Local MPA Saeed Gul, JI Maidan Amir Haji Fazal Wahab, Deputy Commissioner Dir Lower Muhammad Zubair, Assistant Commissioner Lal Qila Shehreyar Khan, head media marketing Syed Ali Gilani, MD Imran Samad, head Islamic Banking Masood Khan, head Business Development Lal Nawaz Khan, Sharia Advisor Abdul Samad Khan, Engineer Hanifullah, bankers and elders of the area were present on the occasion.

Sirajul Haq said that banking and businesses based on interest were one of the reasons of Pakistan’s economic downfall. He said the entire system of economy in the country would be made Islamic and based on interest-free banking if JI was given a chance to rule the country.

The JI leader said that interest-based economy was destroying roots of society. He said that BoK had been serving the people that were based on Islamic interest-free banking system. The minister asked local traders and wealthy persons to cooperate with this new branch of the BoK. He said that he shifted the branch from Samar Bagh to Maidan to meet demands of the people of Maidan,” Siraj said, adding people of Maidan would now get an opportunity to take benefit of Islamic banking in the area.