ISLAMABAD: Finance Minister Ishaq Dar said on Thursday the global size of Islamic Banking had reached $1.6 trillion, hoping that the Steering Committee for the Promotion of Islamic Banking would find ways to raise the banking’s size locally and give suggestions to benefit from it.

The Finance Minister was confident that the Committee would come up with its recommendations by Jan 31, 2014 as per its terms of reference.

In a meeting with the Committee’s officials at the Ministry of Finance, Mr Dar said, “Pakistan was created in the name of Islam. Therefore, it is incumbent upon us to create a conducive environment where the people can live their lives according to the teachings of Islam.”

The Steering Committee comprises Saeed Ahmad(Chairman), Maulana Mufti Muneebur Rehman, Munir Kamal (Chairman National Bank), Saleem Ullah (Director SBP/Secretary), Irfan Siddiqui (Banker), Afaq Khan (Banker), Dr Imran Usmani and Dr Waqar Masood.—APP