President and CEO Faysal Bank visited Sialkot Chamber of Commerce
President and Chief Executive Officer (CEO) Faysal Bank Yousaf Hussain, Mufti Muhammad Najeeb Khan, Head Commercial Banking and SME Altaf Hussain Saqib along with his team visited the Sialkot Chamber of Commerce and Industry (SCCI). President Sialkot Chamber of Commerce and Industries (SCCI) Abdul Ghafoor Malik welcomed the distinguished guests.They exchanged important information in the…
Adil Aziz
Islamic Finance prospects share of Islamic Banking has surpassed 21 Percent
Mr. Irfan Iqbal Sheikh, President FPCCI, has apprised that the share Islamic banking has surpassed 21 percent in Pakistan; and, it is expected to grow rapidly – as SBP has been assigned to make all banking Riba-free by 2027. He added that the growth in Islamic banking’s share is a testimony that individuals and businesses…
National Savings to launch four Shariah-compliant investment and saving scheme
Minister for Finance and Revenue Senator Mohammad Ishaq Dar reiterated firm resolve of the government to implement Shariah Compliant financial system to promote and encourage interest-free Islamic banking and finance in the country. Addressing the launching ceremony of the Shariah Compliant products by the Central Directorate of National Saving (CDNS), the minister said the directorate…
Around 21% banks become Shariah-compliant: Ishaq Dar
Minister for Finance and Revenue Senator Mohammad Ishaq Dar said almost 21 percent of the banks operating in the country had so far been aligned with Islamic laws due to concerted efforts of the policymakers. Addressing Pakistan’s first international conference on “Islamic Capital Markets,” jointly organized by the Security and Exchange Commission of Pakistan (SECP)…
Islamic Banking network crosses 4000 mark
The outreach of Islamic Banking Institutions (IBI) continues to grow in Pakistan and their branch network crossed 4,000 mark in the fourth quarter of fiscal year 2021-22 with the addition of 103 new branches across the country. According to State Bank of Pakistan’s Islamic Banking Bulletin for the period April- June 2022, the number of…
Enforce Islamic Financial System in Pakistan In Next 5 Years: Federal Shariat Court
Federal Shariat Court has ordered the government and relevant state departments to enforce the economic, financial and banking system of the country in accordance with the principles of Islamic teachings by 2027. In the verdict, the court termed the Interest Act 1839 is totally against Sharia-teaching. The court ordered to repeal financial laws against Sharia…
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