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HomeTagsIslamic banking

All Stories: Islamic banking

Islamic Banking – Myths & Misconceptions

Islamic banking has evolved in Pakistan and the market share has consistently increased from 14.9% at the end of 2019 to 19.6% by the...

Ishaq Dar launches four Shariah compliant product of National Savings

ISLAMABAD: Federal Minister for Finance and Revenue Ishaq Dar on Monday launched four Shariah complaint products of National Savings, reiterating firm resolve to promote...

Ishaq Dar says committee formed to promote Islamic banking

ISLAMABAD: Finance Minister Ishaq Dar on Tuesday reiterated the federal government’s resolve to promote Islamic banking in the country, pointing out that a committee...

Ishaq Dar calls for eliminating interest-based system from Pakistan

KARACHI: Finance Minister Ishaq Dar has called for elimination of interest-based system from Pakistan, saying that a committee had been constituted to ensure implementation...

Ishaq Dar says govt committed to promote Islamic Banking in Pakistan

KARACHI: Finance Minister Ishaq Dar has asserted that the federal government was committed to promote Islamic Banking in Pakistan and several steps were being...

Islamic banking shows ‘tremendous’ 30pc growth in assets for CY2020

The overall assets and deposits of Islamic banking have shown tremendous growth of 30 pc and 27.8 pc respectively in 2020, said SBP bulletin

SECP drafts governance rules for Shariah-compliant firms, securities

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has drafted a comprehensive set of regulations for governance of Shariah-compliant companies and entities. The move by...

SBP sets rules for banks wanting to be fully sharia compliant

KARACHI: Pakistan's central bank has issued guidelines covering how banks that want to be fully-fledged sharia compliant can achieve that status, setting a three-year...

Govt forms four sub-committees to promote Islamic banking

ISLAMABAD: Finance Minister Senator Ishaq Dar said on Tuesday that the government is taking structured policy actions to promote Islamic Banking in Pakistan. The finance...

Government launches $500 million in Islamic bonds

KARACHI: Government is set to launch $500 million in Islamic bonds to raise money for country's foreign exchange reserves, a senior official said Wednesday.

SBP widens Islamic banks’ benchmark requirements

ISLAMABAD: Pakistan's central bank has amended its regulations to exempt Islamic banks from using interest-based benchmarks for some of their financing products, the latest government step aimed at boosting Islamic finance.

Finance minister constitutes committee for Islamic banking

ISLAMABAD: Federal Minister for Finance Senator Ishaq Dar has constituted the Committee for the implementation of the recommendations of the Steering Committee for the promotion of Islamic Banking.

Growth in Islamic Banking encouraging, says Mamnoon

ISLAMABAD: President Mamnoon Hussain on Monday said that the federal government is focusing on the promotion of Islamic Banking in the country.

SBP reiterates commitment for Islamic banking

KARACHI: State Bank of Pakistan has reiterated its commitment for promotion and development of Islamic banking in Pakistan.

SECP forms Islamic Finance Department

ISLAMABAD: The Securities and Exchange Commission of Pakistan has established an Islamic Finance Department to regulate and develop the Islamic financial market.

Bank Islami to study purchase of KASB Bank

KARACHI: Bank Islami Pakistan, the country's second-largest full-fledged Islamic bank, has received regulatory approval to study the acquisition of KASB Bank Limited.

Bank Islami plans capital-boosting sukuk

ISLAMABAD: Bank Islami Pakistan, the country's second largest full-fledged Islamic bank, plans to raise 3.5 billion rupees ($34.8 million) via subordinated sukuk, a bank official said.

SBP rolls out second media campaign to boost Islamic finance

ISLAMABAD: State Bank of Pakistan (SBP) is launching a second phase of a mass media campaign designed to raise awareness and acceptance of Islamic finance among consumers in the world's second most populous Muslim country.

SBP launches Islamic banking media campaign

ISLAMABAD: State Bank of Pakistan (SBP) on Tuesday launched the second phase of media campaign for promotion of Islamic banking in Pakistan, ARY News reported.

Pakistan picks banks to hold dollar sukuk roadshows

ISLAMABAD: Pakistan has mandated four banks to arrange fixed income investor meetings started Monday ahead of a potential issue of a U.S. dollar-denominated Islamic bond, a document from lead managers said on Sunday.
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