Islamabad: Federal Minister for Economic Affairs Hammad Azhar recently made notification of Pakistan’s request to the International Islamic Trade Finance Corporation (ITFC) to set up an Exim bank facility in the country to help boost its exports; stating that the proposal was presently under the latter’s consideration – a news source reported.
The minister is currently in attendance at the ITFC Partners Forum 2019 being held in Saudi Arabia. Elaborating further on the matter, he revealed that the ITFC was continuing to finance Pakistan’s fuel requirements; thereby easing pressure on the country’s foreign exchange.
He said that there existed a need to increase trade among Muslim countries to achieve their individual objectives of sustainable development and bring positive change.
As per reports, he has requested the ITFC to develop training tools in Islamic Banking; stating the banking model’s popularity in Pakistan.
He further said that Pakistan was en route to building an export-oriented economy, and that there was a need to focus on trade opportunities in the nearby region and among Muslim countries.
