Dubai Islamic Bank
Pakistan’s Finance Minister Muhammad Aurangzeb, in a virtual meeting held yesterday, extended an invitation to Dubai Islamic Bank to amplify its investment footprint in Pakistan.
The engagement was part of ongoing efforts to fortify Pakistan’s economic partnerships with key international stakeholders.
During the meeting, Finance Minister Aurangzeb connected with Adnan Chilwan, the Group CEO of Dubai Islamic Bank, to deliberate on Pakistan’s economic landscape and identify potential opportunities for enhanced investments.
The discussion was a testament to the government’s proactive approach to securing foreign investments, especially in the domain of Islamic banking.
The virtual session was attended by key figures, including Minister of State Ali Parvez Malik, the Secretary of Finance, and other senior officers from the Finance Division.
Their participation underscored the importance Pakistan places on fostering and maintaining robust economic relations with international financial institutions.
Senator Aurangzeb extended a warm welcome to Adnan Chilwan, expressing sincere gratitude for Dubai Islamic Bank’s consistent involvement in Pakistan’s financial sector.
He acknowledged the bank’s contributions and highlighted the potential for deepening this collaboration.
The Finance Minister emphasized that the government remains committed to nurturing and expanding economic ties with international partners, with a particular focus on Islamic banking—a sector that holds significant importance for Pakistan.
Aurangzeb took the opportunity to provide a comprehensive overview of Pakistan’s current economic scenario. He detailed the government’s progress in stabilizing the economy and the measures taken to create a more favorable environment for business and investment.
Key initiatives mentioned included efforts to broaden the tax base, improve the ease of doing business, digitalize the Federal Board of Revenue (FBR), and implement reforms and restructuring in state-owned enterprises (SOEs) and the privatization process.
Adnan Chilwan, in response, expressed his appreciation for the economic policies and initiatives undertaken by the Pakistani government.
He recognized Pakistan as a strategically important market for Dubai Islamic Bank and reaffirmed the bank’s commitment to playing a more significant role in the country’s financial development.
Chilwan specifically highlighted the bank’s interest in contributing to sectors such as Islamic banking, infrastructure development, and the growth of small and medium-sized enterprises (SMEs).
Throughout the meeting, Finance Minister Aurangzeb reiterated the government’s dedication to maintaining a stable macroeconomic environment.
He assured Chilwan that all necessary measures would be taken to facilitate and encourage foreign investment, reflecting Pakistan’s openness to international capital and expertise.
The discussion culminated in a mutual recognition of the importance of strengthening economic cooperation between Pakistan and Dubai Islamic Bank.
Both parties underscored their shared commitment to fostering sustainable economic growth and further deepening financial ties between Pakistan and the UAE.
The meeting not only highlighted existing collaboration but also paved the way for future engagements that could significantly benefit both Pakistan’s economy and Dubai Islamic Bank’s investment portfolio.
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