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POS Machine, Launched By HBL First Shariah Complaint

First Shariah-based protest HBL launches POS in Pakistan by publishing a photograph of a green device in local publications.

Read: Advantages and Disadvantages of Investing in Real Estate

The head of corporate affairs for HBL Islamic banking, Farhan Ahmed, stated that the POS will only facilitate Shariah-compliant transactions and will reject any non-compliant transactions. He also stated that the machine will only be installed at Shariah-compliant businesses.

According to financial experts, the machine will be useful for enterprises unwilling to use interest-based funding methods.

Read: Top 10 Real Estate Marketing Strategies in September 2022

Ahmed Ali Siddiqui, director of center of excellence in Islamic Finance, stated, “Businesses will be inclined to open Islamic banking accounts, particularly organizations that are sensitive to non-compliant trading, and it will also encourage merchants to open Islamic Bank accounts.”

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