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Business Recorder
21-05-2025
- Business
- Business Recorder
National Islamic Economic Conference: Leaders support ‘Sharia-compliant model'
KARACHI: At the third National Islamic Economic Conference 2025, leaders from government, finance, and religious institutions united in their support for transforming the country's financial system into an interest-free, Sharia-compliant model. The third NIEC 2025 titled 'Towards the Islamic Digital Economy,' was organised by Saylani Welfare International Trust in collaboration with the National Islamic Economic Forum (NIEF) and Darul Uloom Memon. Addressing the conference Governor Sindh Kamran Tessori praised the Prime Minister's 'Uraan Pakistan' initiative and emphasized the importance of Islamic banking, AI-driven innovation, and national resilience. With strong backing from scholars, the judiciary, and the State Bank, Pakistan is on track to become a global leader in the Islamic digital economy by 2027. Governor Sindh, Kamran Khan Tessori, commended Prime Minister's efforts under the 'Uraan Pakistan' initiative to elevate the national economy. He stressed the importance of transitioning from a conventional to an interest-free Islamic financial system. Tessori pointed out the need to embrace artificial intelligence (AI) to remain globally competitive, while acknowledging Saylani Welfare's efforts in advancing AI education among youth. Allama Raghib Hussain Naeemi stated that the Islamic Ideological Council has opposed the interest-based financial system from the very beginning and has already submitted its comprehensive report. The Federal Shariat Court has ruled for the complete implementation of the Islamic banking system, replacing the conventional banking system, by 2027. He expressed full support for the State Bank's efforts in this regard. The Council recommended that funds related to Hajj and Zakat should be managed under the Islamic banking system. Highlighting the growing trend of e-commerce, he said it is rapidly becoming a popular trade method, necessitating a clear framework for such transactions. He welcomed the establishment of the Crypto Council but stressed the need for discussion on the volatility of digital currencies. He emphasized that if the state's leadership focuses its attention, Pakistan could soon transition to an interest-free banking system. Allama Naeemi mentioned that the Shariat Court has already issued orders to eliminate interest, and the Islamic Ideological Council continues to provide guidance on Islamic banking. Since 2025, a trend toward digital economic growth has been observed, making it crucial to safeguard Hajj and Zakat funds in Islamic banks. He also pointed out that the number of internet users in Pakistan has reached 170 million, making it the fifth largest in the world. However, he highlighted a lack of experts in this field. Speaking about the Crypto Council established in 2025, he noted that scholars have not yet addressed the critical discussions required on the subject. Mufti Muneeb-ur-Rehman stated that according to the Shariat Court's order, all banks must transition to the Islamic banking system by the end of 2027. Currently, banks have only two years, seven months and 11 days left to implement this, but there seems to be no significant activity in the government or banking sector regarding this transition. He further criticized the government, saying it is itself involved in interest-based transactions in many areas. He called for conferences that not only raise awareness but also motivate and initiate concrete actions. He also praised the efforts of organisations like Saylani, the NIEF, and Darul Uloom Mehmoodabad in opposing the interest-based system. Mufti Muneeb referred to the events of December 16, 1971, stating that the dagger India thrust into Pakistan's heart has been countered effectively. He commended the sacrifices of the Pakistani Armed Forces, adding that their recent successes prove that with Allah's help, Pakistan has defeated a much larger enemy. He emphasized that following Allah's commandments in all aspects would lead to further divine assistance. Maulana Bashir Farooqi, in his brief speech, stated that 'eliminating the interest-based system by 2027 is essential. Interest is a war against Allah and His Messenger, and no one can succeed in such a war.' He said Saylani is collaborating with relevant institutions to promote the Islamic digital economy. Chairman of the Securities and Exchange Commission of Pakistan (SECP), Tariq Naseem, noted that Islamic fintech is resolving issues related to Islamic financing. He highlighted the need to provide facilities for the 7 million microfinance bank users who are currently unable to open bank accounts. Faisal Bank's President, Yousuf Hussain, spoke about the progress being made in promoting Islamic banking but acknowledged that several issues still need to be addressed. Chairman of ABAD, Hasan Bakhshi, commended the efforts of the State Bank's Governor in promoting Islamic banking. He revealed that 90% to 95% of investors and buyers in the construction industry are inclined towards Islamic banking, emphasizing the sector's significant potential. He called for commercial banks to accelerate their shift toward Islamic banking. The conference concluded with the signing of several Memorandums of Understanding (MOUs) between Saylani and various financial institutions to collaborate on promoting an Islamic economy. Copyright Business Recorder, 2025
Business Recorder
19-05-2025
- Politics
- Business Recorder
Governor visits CMH to inquire about the health of injured soldiers
HYDERABAD: Governor of Sindh Kamran Khan Tessori visited the Combined Military Hospital (CMH) here to inquire about the health of soldiers injured during recent hostilities between Pakistan and India. He was accompanied by Commissioner Hyderabad Bilal Ahmed Memon and representatives of MQM Pakistan. Speaking to the media, Tessori praised the courage and resilience of the injured soldiers. I saw something remarkable today the face of an Air Force soldier who had undergone two surgeries was glowing with pride, he said. Their spirit is unshaken, and they do not regret their injuries. In fact, they are only saddened they couldn't attain martyrdom. He noted that five injured soldiers were brought under treatment at CMH Hyderabad Governor h expressed pride in the armed forces and their families. We salute our soldiers, generals, lieutenants, and colonels who went to war after bidding farewell to their families with the spirit of martyrdom in their hearts. Referring to India's actions, the Governor said just as we and our generals delivered a strong response, India will think twice before attempting such aggression again. He added Modi's extremist ideology, which mirrors Israel's, led to this planned attack in night, but Pakistan responded with dignity, unity, and strength. Governor Sindh also drew attention to the broader pattern of attacks, saying this was not an isolated event. Its fabric is tied to terrorism in Balochistan and Khyber Pakhtunkhwa. We have already sacrificed over 80,000 lives in the war on terror, and even then we were not spared. Governor extended thanks to China, Turkey, Saudi Arabia, Azerbaijan, and particularly the United States, for their diplomatic support. The US played a mediation role, I thank the American President for his efforts, he said. The Pakistani army has proven that our defense lies in strong hands, he said. Now, it's time for the entire nation to rally behind the armed forces. He acknowledged Pakistan's ongoing economic challenges, emphasising the need for national unity and strong leadership to overcome these issues. Copyright Business Recorder, 2025
Arab News
10-04-2025
- Business
- Arab News
UAE to grant 100,000 Pakistanis five-year visas this year – Sindh governor's office
KARACHI: The United Arab Emirates plans to issue five-year visas to 100,000 Pakistanis this year, according to an official statement released by authorities in Pakistan's Sindh province on Wednesday, following a visit by Governor Kamran Khan Tessori to the UAE consulate in Karachi. The governor's office and UAE authorities in Pakistan said this week all visa-related issues between the two countries had been resolved, and Pakistani nationals could now apply for five-year visas to the Emirates. The development came amid widespread reports in recent months of a decline in visa approvals for Pakistanis, allegedly due to violations of local laws and customs, as well as political sloganeering while abroad. Tessori visited the UAE consulate in Karachi on the invitation of UAE Ambassador Hamad Obaid Ibrahim Salem Al-Zaabi following a meeting between the two officials in Karachi on Monday. 'The governor of Sindh, Kamran Khan Tessori, was warmly welcomed by the UAE ambassador and consul general during his visit to the UAE consulate,' the Governor House said in a statement. 'The governor toured the visa center at the consulate, where the ambassador briefed him on the facility,' it added. 'Ambassador Hamad Obaid Al-Zaabi said 100,000 Pakistanis would be granted five-year visas. The consul general added that applicants would be treated with great respect at the visa center and receive full cooperation.' Earlier this week on Tuesday, the UAE consulate in Karachi issued a statement on the meeting between Tessori and Al-Zaabi. 'We love Pakistanis very much,' the statement quoted Consul General Bakheet Ateeq Al-Rumaithi as saying. 'Every person can apply for a UAE visa … Pakistani citizens can also apply for a UAE visa for work, medical treatment and other needs.' The UAE is home to more than a million Pakistani expatriates, making it the second-largest overseas Pakistani community globally and a major contributor to remittance inflows to Pakistan. Policymakers in Pakistan also view the UAE as an ideal export market due to its proximity, which reduces transportation and freight costs and facilitates smoother trade.
Express Tribune
08-04-2025
- Business
- Express Tribune
Pakistanis can now apply for five-year UAE visas, says ambassador
Listen to article Pakistani citizens can now apply for five-year visas to the United Arab Emirates, UAE Ambassador Hamad Obaid Al Zaabi announced on Tuesday during a meeting with Sindh Governor Kamran Khan Tessori. The announcement was made at the Governor House in Karachi, where the ambassador was joined by UAE Consul General Bakheet Ateeq Al Remeithi. Al Zaabi also invited the governor to visit the UAE visa centre in Karachi and expressed support for the governor's development initiatives. As part of the visit, the ambassador took part in a tree plantation drive and attended a flag-hoisting ceremony. He signed the guest book, calling the event a symbol of lasting friendship between the two nations. The announcement follows confirmation from the UAE authorities that no visa ban exists for Pakistani nationals. According to the Ministry of Foreign Affairs, the UAE's new five-year visa policy requires applicants to submit return tickets, hotel reservations, proof of property ownership if applicable, and a deposit of AED3,000. Pakistani applicants have faced scrutiny in recent years due to concerns over fake documents, visa overstays, and inappropriate use of social media. The Pakistan Embassy in Abu Dhabi has taken up these matters with UAE authorities.
Express Tribune
25-03-2025
- Politics
- Express Tribune
'Problems are not solved by Iftar and Sehri, but by working,' says mayor Karachi
Listen to article The war of words between Governor Sindh Kamran Khan Tessori and Mayor Karachi Murtaza Wahab continues as the latter made a statement that issues facing the city cannot be solved simply through gestures like 'Iftar and Sehri', but only through consistent and practical work. Speaking to the media, Wahab, belonging to the Pakistan Peoples Party (PPP), emphasised the importance of taking concrete steps rather than engaging in propaganda. Wahab said that the PPP is committed to addressing the problems of the public regardless of political affiliation. He also took a moment to offer prayers for protection from those he referred to as "adversaries" and expressed hopes that the holy month of Ramadan would bring blessings to the city and its people. Further defending the PPP's approach, Wahab praised the Governor of Sindh, describing him as both a close friend and a benefactor of the city. He revealed that, on the Governor's suggestion, he had recently written a letter to the federal government requesting funds to support development efforts in Karachi. In particular, Wahab reiterated his request for the release of Rs100 billion, a sum he claimed he has been seeking for the past eight days. He called on federal government officials, including Governor Kamran Tessori, to ensure that these funds are made available, reiterating that, if received, he would ensure full accountability and transparency in their use. Wahab concluded by pointing out that while it is easy to make promises and discuss issues, actual work is far more challenging. He highlighted one of the city's critical needs – the construction of a Northern Bypass – which he argued is essential to resolving Karachi's worsening traffic congestion. Sindh Governor responds to Karachi Mayor Earlier Sindh Governor Kamran Khan Tessori had responded to the statement made by Karachi Mayor Murtaza Wahab, asserting that his focus during Ramadan is entirely on serving the public, particularly during the times of Sehri and Iftar. In his remarks, Tessori stressed that his dedication to community service during the holy month of Ramadan leaves him with no time for anything else, particularly until after Sehri. Sindh Governor shared that he had the privilege of hosting Iftar for the Consuls General of Saudi Arabia, Iran, Oman, Turkiye, Malaysia, Russia, and Bangladesh, and also had the honour of offering Iftar to 10,000 individuals at the Governor House. He expressed that while serving the public, he also gains spiritual merit, highlighting that he provides daily gifts such as residential plots, Umrah tickets, motorcycles, and phones, in addition to distributing Sehri to various locations. Tessori also responded to critics, advising them to focus on making improvements rather than harbouring jealousy over the love and support he has received from the people. He pointed out that this Ramadan, he had demonstrated his commitment to all citizens, with people from all backgrounds—whether Muhajirs, Sindhis, Punjabis, Baloch, or Pashtuns—considering him a brother and a son. He concluded by encouraging others to win hearts through service, emphasising that this is the true measure of success, rather than being envious of popular support.
