Opening ceremony of the 7th International Conference on Energy, Environment and Sustainable Development held at Mehran University

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 Wednesday, February 19, 2025 Hyderabad (UrduPoint / Pakistan Point News - 19th February, 2025) The opening ceremony of the 7th International Conference on Energy, Environment and Sustainable Development organized by Mehran University of Engineering and Technology, Jamshoro, was held. Addressing the opening ceremony, Energy Sector Expert Engineer Irfan Ahmed said that an environmentally friendly energy transition is taking place, electricity is being generated from wind and solar energy, there are many wind power generation projects in Sindh and wind power is also cheap. He said that if the equipment is made in Pakistan, the cost of the projects will be reduced because at present most of the equipment is being purchased from abroad. He said that Pakistan has a lot of natural and natural sources and resources to generate environmentally friendly energy, but we are not using them properly. Engineer Irfan Ahmed said that due to the cost of buying equipment for wind power generation pr...
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Efforts are being made for an interest-free financial ecosystem in Pakistan, says SECP Chairman

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 Islamic Capital Conference organized by CDC Pakistan, PSX and NCCPL

December 13, 2024

Karachi (News International / Pakistan News - Online. December 13, 2024) Securities and Exchange Commission of Pakistan (SECP) Chairman Akif Saeed has said that there has been considerable progress in Islamic financing in the last few years. We reiterate the delivery of Islamic finance to all economic sectors, from banking and capital markets. After the last annual conference, the first Islamic fintech brokerage house was established. Both the government and investors are benefiting from Sukuk. Steps are underway to further strengthen Islamic financing from Sukuk. Last year, corporate Sukuk grew by 27 percent, which reflects the increasing demand. As a regulator, our priority is to have listed Sukuk.


He expressed these views while addressing the Second International Islamic Capital Markets Conference organized by the Central Depository Company of Pakistan Limited (CDC), Pakistan Stock Exchange (PSX) and National Clearing Company (NCCPL).


Akif Saeed has said that through the International Islamic Capital Conference, Pakistan is taking steps to transform into a sustainable, equitable and interest-free financial ecosystem. The Federal Sharia Court’s Apex Committee has set a target of implementing the Islamic system in all regulated sectors by December 2026. Islamic finance will lead to sustainable economic growth at the local and global levels. A riba-free economy requires mutual cooperation not only for the economic improvement of Pakistan but also for a fair economic system at the global level.


On this occasion, Sheikh Ibrahim bin Khalifa Al Khalifa, Chairman of the Board of Trustees of the Accounting and Auditing Organization for Islamic Financial Institutions and Founding Chairman of Meezan Bank, appreciated Pakistan’s efforts for the development of Islamic finance. He said that the future of Islamic finance lies not only in Islamic banks but also in Islamic capital markets. These markets have the potential to raise capital. Islamic financing will not only achieve economic goals but also social and environmental improvements. According to the 26th Amendment Bill, interest will be abolished in Pakistan by the end of 2027. Challenges will certainly be faced, but this will provide many opportunities. Real improvement will come with the joint cooperation of the government, regulators and practitioners. He said that Sukuk is very important in Islamic finance, but many aspects of Sukuk bonds are similar to conventional bonds, which have room for improvement. We need to innovate in Sukuk, which will lead to economic, environmental improvements and, as a result, increase political stability. CDC Chief Executive Officer and Chairman of Asia Pacific Central Securities Depository Group Badiuddin Akbar, PSX Chief Executive Officer Farrukh H. Sabzwari and NCCPLK Acting CEO Imran Ahmed Khan presented souvenirs to the conference speakers. The conference was attended by more than 20 prominent international experts and policymakers from various countries including Bahrain, Saudi Arabia, Nigeria, Malaysia, Turkey, Oman, Iran and the United Kingdom.


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