Hafeez for potential of Islamic finance to help developing states
Pakistan's Adviser on Finance and Revenue, Dr Abdul Hafeez Shaikh said the Covid-19 has engulfed the whole world, and the global GDP is going to contract by 3-4%. Hafeez said Islamic banking was growing at a fast pace in Pakistan and he emphasized the potential of Islamic finance to help developing countries cope with the global financial challenges. The adviser said the government established a corona relief fund and transferred cash to 16 million vulnerable families to provide them support in this difficult time.
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