Finance Minister Muhammad Aurangzeb has said that Pakistan remains firm in its commitment to transforming the financial system in line with Shariah principles.

He was virtually addressing the inaugural session of the Second International Islamic Capital Markets Conference and Expo in Karachi on Thursday.

The Minister underlined the need for an economic system that is not only in line with our faith but also capable of inclusive and sustainable economic growth. He said that only then we will be able to extend the benefits of all our efforts to the citizens of Pakistan.

He said that Islamic finance and instruments such as Sukuk, equity funds, and Shariah-compliant investment vehicles are vital tools for mobilizing resources and with these mechanisms in place, Pakistan has the potential to emerge as a leading global hub for Islamic finance.

The Finance Minister further noted that full realization of the potential of Islamic finance is not possible without collective and collaborative efforts of scholars, financial institutions, regulatory bodies, and industry practitioners.

Muhammad Aurangzeb said that we must ensure that Islamic finance is not only rooted in Shariah principles but also practical, transparent, and capable of meeting the evolving needs of our people.