Islamic Banking in Pakistan

State Bank of Pakistan Unveils Strategic Plan for Islamic Banking

On Monday 5th April 2021, State Bank of Pakistan (SBP) has unveiled its third five-year Strategic Plan for the Islamic banking. The plan has set headline targets for Islamic banking to be achieved by 2025. These include: 1) achieving 30% share in both assets and deposits of overall banking, 2) boosting to 35% share in… Continue reading State Bank of Pakistan Unveils Strategic Plan for Islamic Banking

Islamic Banking in Pakistan, Islamic Finance

Pakistan posts highest growth in Islamic banking since 2015

In Pakistan Islamic banking has posted growth of 30 percent in the assets and 27.8 percent in deposits during CY2020. This is the highest increase in assets in a year since 2012 and in deposits since 2015. Over the last five years, both assets and deposits of the Islamic banking have more than doubled. This… Continue reading Pakistan posts highest growth in Islamic banking since 2015

Islamic Banking in Pakistan

Islamic Banking in Pakistan: Progress During FY20 and Outlook

In Pakistan, Islamic banking has registered substantial growth over the last few years. Along with increase in number of branches, windows and diversity of Islamic banking products and services, the size of Islamic banking balance sheet has improved significantly. The growth continued during FY20, as the assets and deposits of the Islamic banking grew by… Continue reading Islamic Banking in Pakistan: Progress During FY20 and Outlook

Islamic Banking in Pakistan

Meezan Bank earnings per share for 9MCY20 likely to go up by 44%

Meezan Bank (MEBL), the largest full service Islamic bank of Pakistan is scheduled to announce its 9MCY20 result on 20th October 2020. According to a report by AKD Securities, MEBL is anticipated to record earnings per share (EPS) of Rs12.14 as against EPS of Rs8.44 posted for the corresponding period of last year, signifying an… Continue reading Meezan Bank earnings per share for 9MCY20 likely to go up by 44%

Islamic Banking in Pakistan

State Bank of Pakistan issues guidelines for DFIs to undertake Shariah compliant business

To enlarge the scope of Shariah compliant financial services in the country, State Bank of Pakistan (SBP) has taken another important step by issuing guidelines for Development Finance Institutions (DFIs) to undertake Shariah compliant businesses and operations. Keeping in view the various developments, such as changes in the licensing and regulatory regime for banks, SBP… Continue reading State Bank of Pakistan issues guidelines for DFIs to undertake Shariah compliant business