Karachi Hosts AlBaraka Forum on Future of Digital Islamic Economy
AlBaraka Forum for Islamic Economy is organizing the sixth edition of its Regional Conference Series, titled “Islamic Economy in the Digital Age: Innovation within the Framework of Compliance.”
Adil Aziz
SECP Hosts Second Conference on International Islamic Capital Market in Karachi
The Securities and Exchange Commission of Pakistan (SECP), in collaboration with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Development Bank Institute (IsDBI) on Wednesday organized the Second International Islamic Capital Market Conference. The event, held in Karachi, themed, “From Tech Transformation to Realizing Sustainability: Building an Islamic Capital Market….
Mehfooz
SECP approved Strategic Action Plan 2024-2026 for development of Islamic finance in non-bank financial sector
The Securities and Exchange Commission of Pakistan (SECP) has approved a Strategic Action Plan 2024-2026 to facilitate the growth and development of Islamic finance in non-bank financial sectors. The plan was prepared by the SECP’s apex committee chaired by Mujtaba Ahmed Lodhi, Commissioner-SCD, established in 2023 with representation from the Pakistan Stock Exchange (PSX), Central…
New SBP Regulations for Profit Sharing on Islamic Banking Savings
The State Bank of Pakistan (SBP), revised the instructions for profit and loss distribution and pool management for Islamic Banking Institutions (IBIs) which now are required to pay profit on their PKR saving deposits equivalent to at least 75 percent of the weighted average gross yield of all pools of an IBI.
SBP releases annual report of 2022-23
The fiscal year 2023 was extraordinarily challenging, with a host of external and domestic shocks, amplified by lingering structural weaknesses, contributing to persistently high inflation amid a contraction in economic activities, according to Governor’s Annual Report (GAR) for fiscal year 2022- 23 released by the State Bank of Pakistan (SBP) today.
Editor
Islamic finance ideally placed to help the country transition towards sustainable finance – Director SBP
The Institute of Business Management’s (IoBM) two-day International Conference on Islamic Banking and Finance (ICBIF) 2023 began today. Focusing on the theme of “Sustainable Development and Islamic Finance: Examining the Role of Islamic Financial Institutions in Promoting Sustainable Economic Growth…
National Savings achieving of Rs.35 Billion investment in Islamic bonds to Q2
The Central Directorate of National Savings has secured Rs 35 billion in Islamic finance bonds in the mid of second quarter of the Current Fiscal Year 2023-24.
Conventional banking being shifted to Islamic mode: State Bank
Additional Director State Bank of Pakistan (SBP). Dr Mohammad Salim has said that under a ruling of the Federal Shariat Court, conventional banking in the country was being shifted into Islamic banking system to get the people rid of interest-based banking.
Banking sector shown steady performance, resilience during H1CY23: SBP Review
Pakistan’s Banking sector showed steady performance and resilience during the first half of 2023 despite challenging macro-economic environment as the banking sector managed to expand its asset base by 14 % while asset quality, profitability and solvency also registered positive growth. It was stated in Mid-Year Performance Review of the Banking Sector for 2023- issued…
Pakistani Origin Ahmed Larik Selected Among Top 100 Saudi Technology Leaders
He is the only Pakistani who receive this recognition this year Pakistani Origin IT Wizard Ahmed Ali Larik has been selected among the Top 100 Saudi visionary leaders by the prestigious platform DT100 for his extraordinary contribution in the transformation of the digital banking landscape. Ahmed Ali Larik became limelight as an accomplished visionary professional…
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