Caretaker Minister for Finance Dr Shamshad Akhtar has reiterated that to promote both industry as well as the regulators of Islamic Banking in the country. "When I was governor of State Bank of Pakistan (SBP) few years back, we were promoting the Islamic finance industry in very aggressive manner,...
The worth of worldwide Islamic financial assets leapt from half a million dollars in the 1970s to over one trillion USD by 2009. With an annual growth rate of around 14 per cent, assets have doubled over the past five years, and now exceed two trillion USD.1 Ernst &...
Pakistan's capital market regulator has drafted governance rules that cover sharia-compliant companies and securities, the latest government initiative aimed at developing the country's Islamic finance industry. The move by the Securities and Exchange Commission of Pakistan (SECP) marks the first time a regulator has defined comprehensive requirements for companies that...
  Bangladesh is a country where, Dr Younus established first Micro Finance Bank in in the world known as Grameene Bank. This further gave birth to microfinance banking in the world. Now in the same country, IBBL is a groundbreaking institution both for its status as the first and largest formal...
Islamic finance in 2018 – What is to be done Muhammad Arif (Chairman CAIF) Views expressed in this article are in the light of a report by S&P Global Ratings. The Islamic finance industry will lose some momentum in 2018, says S&P Global Ratings in a new report. Even though sukuk issuance accelerated in...
Bahrain as model of Islamic banking and finance Manzar Naqvi Bahrain's Islamic finance (IF) industry has been in existence for more than 30 years, and the industry gained momentum in the last 5-10 years. Bahrain operates a dual system where Islamic financial institutions (IFIs) operate in parallel with conventional banks. The...
Islamic economists have shown in many research studies how Islamic financial system promotes economic growth. They have already put forth many hypotheses regarding promotion of investment, incentives for savings, prudent monetary policy and rapid adjustment of an economy to external economic shocks. Mohsin Khan's Proposition that Islamic banks absorb and...
Role of two banks of Pakistan in Islamic banking   In the competitive environment there are various banks which are providing the services related to Islamic banking. Banks which are following the Islamic laws are registered under the state bank of Pakistan. Islamic banks have experienced advisors to approve their services....
The size of Islamic finance market is estimated up to $2 trillion in 2017 and projected to grow to above $3 trillion by 2018. The Islamic finance assets represent 1 percent of the global financial market, while the Sukuk issuance is accelerating the Islamic capital markets at the annual...
A sound economy has a sound banking system backing it up. It eliminates the built-in disparity among the savors and deficit ends of an economy by maintaining an even flow of funds among them. Banking services have become even direr post globalization. In the history of Islamic banking, an...
ISLAMABAD: The government will soon launch Rs 100 million Sukuk bonds for Islamic banking industry to strengthen its liquidity position in pursuance of its mission of fast growth of Islamic financing in the country. Advisor to the Prime Minister on Finance and Economic Affairs Dr Miftah Ismail cited on Monday...