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Waqf for the promotion of education

Ihsan Trust promoting education for a brighter Pakistan

Ihsan Trust was established as an independentTrust (Waqf) in 2010 with the vision to create a poverty free society on the principles of equality and compassion. Their missions is to reach out and help the poor and needy according to the principles of Islam and take care/look after the wellbeing of poor and needy and… Continue reading Ihsan Trust promoting education for a brighter Pakistan

Islamic Finance

AAOIFI 17th Annual Shari’ah Conference Scheduled for 7 and 8 April 2019

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) will hold, under the auspices of the Central Bank of Bahrain, the 17th edition of its Annual Shari’ah Conference on 2 – 3 Sha’ban 1440 H corresponding to 7 and 8 April 2019 at Gulf Hotel, Manama, Kingdom of Bahrain. This conference is the most important… Continue reading AAOIFI 17th Annual Shari’ah Conference Scheduled for 7 and 8 April 2019

Islamic Finance

AAOIFI issues Financial Accounting Standards 33 and 34 for Sukuks

The Accounting Board (AAB) of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) has officially issued financial accounting standard (FAS) 33 “Investments in Sukuk, Shares and Similar Instruments” and FAS 34 “Financial Reporting for Sukuk-holders”. This brings the total number of standards and pronouncements developed by AAOIFI to 111.FAS 33 (which supersedes earlier… Continue reading AAOIFI issues Financial Accounting Standards 33 and 34 for Sukuks

Islamic Finance

AAOIFI issues Exposure Draft on Waqf Governance

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) has issued the exposure draft on Governance Standard for Islamic Financial Institutions (GSIFI 11)on “Waqf Governance”. Theexposure draft of the standard was approved to be issued for public comments by the AAOIFI Governanceand Ethics Board (AGEB). AAOIFI initiated the Waqf comprehensive project for revision and… Continue reading AAOIFI issues Exposure Draft on Waqf Governance

Islamic Finance

AAOIFI Invites Opinion from Islamic Finance Industry on Exposure Draft on Sukuk Governance

AAOIFI Governance and Ethics Board (AGEB) in its 9th meeting held in Bahrain has approved the issuance of exposure draft on “Sukuk Governance”. Sukuk is a widely used instrument for investment purposes by sovereigns, corporates and IFIs. Various regulators sensing the need and necessity to manage this instrument have issued regulations to govern the overall… Continue reading AAOIFI Invites Opinion from Islamic Finance Industry on Exposure Draft on Sukuk Governance

Islamic Finance

State Bank of Pakistan Declared Best Central Bank for Promoting Islamic Finance

State Bank of Pakistan (SBP) has been declared the best central bank for promoting Islamic finance for the year 2018.  The coveted award has been conferred by Islamic Finance News (IFN), an arm of REDmoney Group, Malaysia. The IFN Award is the global endorsement of SBP’s initiatives for the promotion of Islamic banking in Pakistan.… Continue reading State Bank of Pakistan Declared Best Central Bank for Promoting Islamic Finance

Islamic Finance

IBA-CEIF busy in capacity building in Pakistan

IBA Centre for Excellence in Islamic Finance (IBA CEIF) has been engaged in capacity building since its inception. In this regard, a unique initiative launched by CEIF is an Advanced course on Shariah Standards by Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI), based in Bahrain. The course has led to participants attempting the… Continue reading IBA-CEIF busy in capacity building in Pakistan

Islamic Banking in Pakistan

Meezan Bank Best Positioned to Leverage Growing Shariah Banking

Pakistan’s leading brokerage house, Topline Securities that also excels in research has initiate coverage on Pakistan’s first and the largest full service Islamic bank, Meezan Bank (MEBL). It has recommended investors to ‘Buy’ at a target price of Rs123/share, offering 38% upside. MEBL is expected to outperform peers based on: 1) strong brand recognition and… Continue reading Meezan Bank Best Positioned to Leverage Growing Shariah Banking