KARACHI: Pakistan’s Bank Islami has launched a nationwide outreach program to advance Islamic banking and supporting a Riba-free financial system in the country, it said on Friday.
Under the initiative, the bank’s regional team leaders are holding on-ground awareness and advocacy sessions with officials across the country to promote greater understanding and adoption of Shariah-compliant financial solutions and pave the way for Riba-free alternatives.
“This outreach program aligns with Bank Islami’s broader mission to promote Shariah-compliant financial inclusion and support policies that encourage ethical banking practices throughout the country,” the bank said in a statement.
The Pakistani central bank said in May that Islamic banking assets had for the first time reached Rs11.5 trillion ($40.7 billion) by the end of March 2025 as the country actively moved toward implementing a fully Shariah-compliant financial system.
In April 2022, Pakistan’s Federal Shariat Court (FSC) had directed the government to eliminate Riba, or interest, and align the country’s entire banking system with Islamic principles by 2027.
Following the order, the government and the State Bank have taken several measures ranging from changing laws to issuing sukuk Islamic bonds to replace interest-based treasury bills and investment bonds.
Bank Islami said people have welcomed the opportunity to engage more deeply in Islamic banking and discuss the benefits of a Riba-free economy as part of its drive.
“The Bank plans to continue and expand these engagements as part of its long-term vision for a more just and resilient financial system,” it added.











