Islamic Mode of Financing

Pakistan to receive US$600 million syndicated loan for commodity financing from ITFC

The International Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank will make available to Pakistan about US$600 million of syndicated loan for commodity financing. ITFC has conveyed this to Pakistan during a virtual meeting between Minister for Economic Affairs Omar Ayub Khan and ITFC Chief Executive Officer Hani Salem Sonbol. The… Continue reading Pakistan to receive US$600 million syndicated loan for commodity financing from ITFC

Islamic Banking in Pakistan, Islamic Finance

Pakistan Islamic banking industry achieves highest YoY growth since 2015

Pakistan’s Islamic banking industry (IBI) has achieved the highest year-on-year (YoY) growth in assets and deposits since 2015 increasing the market share in the overall banking industry to 17% and 18.7% respectively. The State Bank of Pakistan (SBP) in its latest bulletin for April-June quarter reported that assets and deposits of IBI grew 32% and… Continue reading Pakistan Islamic banking industry achieves highest YoY growth since 2015

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

Government of Pakistan Committed to support Islamic banking, says, Dr. Shamshad Akhtar

Lately, Interim Finance Minister, Dr. Shamshad Akhtar informed the Senate that the government is committed to promoting both banking industry and regulators of Islamic banking in the country. Speaking before the passage of a resolution, she recalled when she was governor of the State Bank of Pakistan (SBP), she made all-out efforts to promote Islamic… Continue reading Government of Pakistan Committed to support Islamic banking, says, Dr. Shamshad Akhtar