Islamic Banking in Pakistan

Government of Pakistan lacks commitment towards elimination of Riba

Pakistani newspapers and magazines are full of praises for the Government of Pakistan (GoP) and State Bank of Pakistan (SBP) for ushering double digit growth of Islamic banking in the country. However, the performance over slightly less than two decades looks miniscule keeping the facts in mind that overwhelming majority of the population of the… Continue reading Government of Pakistan lacks commitment towards elimination of Riba

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

Islamic Banking in Pakistan

Pakistan needs a new road map for accelerating growth of Islamic banking

Islamic banking was re-launched in Pakistan with the commencement of operations by Meezan Bank, as a full service Islamic bank more than two decades ago. To avoid the fallout of making an attempt to shift to Shariah compliant banking from Riba-based banking, the State Bank of Pakistan and other market participants agreed to let the… Continue reading Pakistan needs a new road map for accelerating growth of 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

Islamic Banking in Pakistan

Standard Chartered Bank: The first foreign bank to commence Islamic banking operations in Pakistan

Shehzad Khokar is currently Head of Islamic and Personal Banking at Standard Chartered Bank Pakistan. He has been associated with the Bank since 2007 in several roles including Islamic Retail Products, Islamic SME Banking, Marketing and Consumer Banking Strategy and Service Quality. He has been overseeing Islamic Banking for the last 7 years and has… Continue reading Standard Chartered Bank: The first foreign bank to commence Islamic banking operations in Pakistan

Islamic Banking in Pakistan

Strengthening Islamic Banking in Pakistan

The general perception is that Islamic banking in Pakistan is making progress in leaps and bonds. The supporting arguments are number of branches offering this facility, percentage of deposits held by Islamic financial institutions (Islamic banks and designated Islamic banking branches of conventional banks and Islamic banking attaining the status of first choice. However, some… Continue reading Strengthening Islamic Banking in Pakistan