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....
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...
Takaful i.e. Islamic insurance the need of Pakistan The estimated 200 million population of Pakistan represents a huge market for Takaful and insurance industry. With a large population shying away from insurance due to religious reasons and equally large population staying away from Takaful due to lack of understanding, Takaful...
Islamic banking in Pakistan overview Muhammad Arif (Chairman CAIF) Everyone in Pakistan is amazed over the fast-track popularity of Islamic banking. Latest reports show the position as provided in table 1. Financing and related assets (net) of Islamic banking industry increased by Rs. 58 billion (5.9 percent) during the quarter ending Sept 2017...
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...
Mohammed Arifeen Islamic banking is growing rapidly in Bangladesh with a market share of about 20 percent, though the country does not have a full-fledged law for the sector, according to a research. "Islamic banking is profitable from all aspects," says the research paper of the Bangladesh Institute of Bank...
Mubasher Mir Islamic finance's metamorphosis from a niche corner of global banking to a growing source of funding for rest of the world has been aided by a storied list of borrowers who have sold sukuk in recent years. The government of Singapore was one of the earliest non-Muslim entrants into...
Manzar Naqvi Islamic finance offers alternative solutions to conventional finance that comply with the principles of Shari'ah. Islamic jurisprudence strives to promote moral and ethical values in establishing an economic system that outlaws the payment and receipt of interest, excessive uncertainty in business transactions and investment in prohibited industries. Initially, the...
Muhammad Arif (Chairman CAIF) Access to finance and infrastructure funding can help Africa's economic development journey. Islamic finance can increase access to finance and can help bridge the infrastructure gap in Africa. The G20's German Presidency introduced a new initiative for sustainable economic development in Africa known as the G20 African...
Mohammed Arifeen Islamic Banking Industry in Pakistan has grown at a fast pace ever since its re-launch in 2001. Starting from almost scratch the Islamic banking industry now represents 11-12 % of overall banking system with 19 banking institutions offering Islamic banking products and services. State Bank of Pakistan (SBP) initiated...
Mubasher Mir One of the key challenges of any Shari'ah compliant product is to structure products that commercially mirror or duplicate the commercial terms of those offered in the conventional market, while at the same time meet the relevant Shari'ah requirements. Al Tamimi & Company has assisted several banks in GCC...