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

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