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Islamic banking: Pakistan hires experts from Malaysian bank for training

KARACHI (February 21 2003) : The State Bank of Pakistan (SBP) has trained 30 bankers for Islamic Banking by hiring experts from the Nicara Bank Malaysia, said Dr Ishrat Husain, Governor State Bank of Pakistan on Thursday.

He was addressing the 52nd Annual General Meeting of the Institute of Bankers Pakistan and kept his speech discussing the banking affairs including needs of training, strict merit and transparency.

He said Pakistan was entering into new field of Islamic Banking, which needs expertise and Nicara Bank Malaysia has 10 years experience in this regard.

He said four Malaysian Islamic banking experts were hired to train 30 bankers which would helped us to develop the Islamic banking in Pakistan.

He expressed happiness over the staff recruitment procedures being adopted by the banks in the country and stressed for strict maintenance of merit in all sectors of banking.

He said that the State Bank of Pakistan (SBP) and Muslim Commercial Bank (MCB) were the first who initiated written tests and interviews for the recruitment.

He said transparency was must for the recruiting procedure and that will reduce the pressure from outside to recruit a candidate on 'sefarish'.

He was of the view that proper training and merit is a must for the bankers as they would be the future managers and senior managers of any banking institution.

The Governor said that in the last three years about Rs 40 million were spent on training of the bankers.

About 3000 officers participated and benefited from the training of the foreign banking institutions.

He said 300 SBP staff got training from the prestigious institutions like IMF institute and world Bank

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