FAISALABAD: The objective of promotion of Islamic banking is to ensure equal distribution of wealth in the society and to end poverty and hunger, a government official said.

Addressing the opening ceremony of four-year BS Honours programme in Islamic banking and finance under the Department of Islamic Studies at the Government College Women University Faisalabad, he said all Shariah requirements have been kept in view while designing Islamic banking but the people are hesitant about it.

The role of Ulema is very vital in the promotion of Islamic banking in the country, he said, adding that the members of the Shariah Board would be called for the guidance of students of Islamic banking course to clear their concept.

Presently, 20 institutes of Islamic banking were functional in Pakistan, of which five were complete Islamic banking and 15 have departments of Islamic banking.

Earlier, Government College Women University Faisalabad vice chancellor Prof Dr Rubina Farooq highlighted the details of the four-year BS Honours programme.

Shoukat Zaman, executive director and group head of Forex and Development Finance, State Bank of Pakistan; Sarfraz Ahmed Nadeem, chief manager of the State Bank of Pakistan Faisalabad; Muhammad Akbar, deputy chief manager; faculty members and students were present on the occasion