Renowned economist Dr. Ashfaq Hassan has said that Britain has hosted the 9th World Islamic Economic Forum (WIEF) in order to attract Muslim investment. He said that the World IslamicEconomic Forum has assumed such an importance that even non-Muslim States havestarted taking interest in it.
He said that Britain has started promoting Islamic banking in the country especially after 2008 when the world had to confront economic crisis.
Dr. Hassan said that WIEF has a special importance for Pakistan because it will afford an opportunity to Prime Minister Nawaz Sharif to have interaction with several world leaders at a time when Pakistan faces a host of crises especially economic and energy.
He further stated that Prime Minister Muhammad Nawaz Sharif could also invite the entrepreneurs to invest in Pakistan especially in power sector.
Responding to a question, Dr.Hassan said that Islamic banking is being promoted in Pakistan as in other Islamic countries and slowly and gradually it would replace the conventional banking.
Dr. Ashfaq said that the World Islamic Economic Forum was established in Malaysia on the lines of World Economic Forum.
He said that the forum has convened its meeting in London, as the city is emerging as the center of Islamic finance for the last few years.
He added that the British Prime Minister is taking keen interest in it.
He said the countries with Islamic economic system suffered less from the global economic recession that started in 2008 as compared to countries that followed other modern economic systems.
Ashfaq Hassan Khan said that address of the Prime Minister Nawaz Sharif to the forum is a great honor for Pakistan.
He added that the prime minister will have an opportunity to interact with leaders of other countries.
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