Dec 30

SBP introduces Shariah compliant OMO injections

KARACHI: The State Bank of Pakistan (SBP) on Wednesday introduced Shariah Compliant Standing Ceiling facility and Open Market Operations (OMO) injections for Islamic banking Institutions (IBIs). As the size of the Islamic banking industry is increasing, SBP recognizes the need to introduce Shariah compliant liquidity facilities for IBIs. With a view to bring IBIs at […]

by Faisal Shahnawaz

President Alvi asks banks to support research students

KARACHI: The President of Pakistan, Dr. Arif Alvi Monday asked the banks to guide students in their conducting research studies. The President was speaking as the chief guest at the 4th Roundtable Conference on Islamic Banking. The President asked why there was a need to establish a separate organization for research when the students of […]

by Mrs. Anjum Shahnawaz

SBP issues five-year strategic plan for growth of Islamic banking

KARACHI: State Bank of Pakistan (SBP) on Monday issued third five-year Strategic Plan for the Islamic Banking Industry. The strategic plan has set headline targets for Islamic banking industry to be achieved by 2025. These include: (i) 30 percent share in both assets and deposits of overall banking industry, (ii) 35 percent share in branch […]

by Mrs. Anjum Shahnawaz