Tag Archives: Islamic

  Islamic Banking and Financing has gained a foothold both nationally in Muslim countries and internationally in the financial world. For years, many Islamic banks have registered double-digit growth rates, surpassing their conventional peers. At first glance, all seems well for the Islamic banking industry. There is ample room for growth as Islamic banking rarely exceeds a 3rd of total market share, even in GCC countries and Malaysia. Many potential …

Islamic banking has been defined as a system of banking, which is in accordance to the values and the spirit of Islam and is based on principles, which have been put forth by the Islamic Shariah. Not only does this form of banking avoid any interest-based transactions, it also avoids unethical and immoral social practices, which go against Islamic law. Thus the aim of Islamic banking is to work towards …

  Knowledge, attitude and practices of Islamic banking “Knowledge, Attitude and Practices of Islamic Banking in Pakistan” was the theme of a research survey conducted by the State Bank of Pakistan (SBP) which in fact was the driving force behind the eye catching growth of the banking sector. According to the survey there is an overwhelming demand for Islamic banking in the country that is evenly distributed amongst rural and …

  Pakistan has favorable environment for the growth and expansion of microfinance sector: EIU Over 2 million beneficiaries including non muslims are taking the productive use of Islamic microfinance worldwide Islamic banking industry has been showing a spectacular annual growth rate of over 30 percent over the past five years with sustained growth momentum despite substantial increased base. Islamic Banking has been expanded across 80 districts of the country with …

  Islamic funds have actually provided a window to a number of individuals, who were previously reluctant to invest because of their religious beliefs. The Islamic funds constitute 12 percent of the overall fund management in Pakistan. The country currently has the total assets worth Rs58 billion under management of Islamic mutual funds. Islamic funds industry is still at its initial stage. Presently, the country has all types of funds …

  Islamic finance during the past many decades has begun to progress in a great deal on the global front. Besides having the traditional Islamic finance markets in the Middle East, Western countries have also begun to see financial centers opening up. There is now more acceptance and recognition of this alternate financial system. The range and the scope of Islamic finance products over the years have also widened which …

  Pakistan is a country where population is predominantly Muslim and the share if Islamic finance should have increased enormously by this time. The decision of State Bank of Pakistan (SBP) to let the two systems in parallel was good but the overall response of all the stakeholders, particularly the government has been lackluster. Bulk of the government borrowing from the local market has remained Riba-based, mainly through Treasury Bills …

  Islamic finance based on principals of Shariah provides an alternate to conventional banking. Islamic banking industry size is estimated to be $400 billion with potential to grow at minimum 15 percent to 20 percent globally per year, much faster than conventional financial institutions. This has been the same trend over the last 5 years since 2008. Islamic Banking assets globally are estimated to be $270 billion. The sukuk market …

  When last year at the eve of World Islamic Economic Forum, British Prime Minister David Cameron announced a plan to issue $323 million sovereign sukuk, or Islamic bond, to attract new money to London, then his announcement not come out as a surprise for in and outside Muslim countries. No doubt, Islamic finance is naturally more popular among Muslims because of their religious beliefs, with Malaysia leading the rest …

  Country still needs Shariah experts for growth of Islamic banking market Brunei Darussalam has only one fully-developed Islamic bank. Islamic windows are playing a pivotal role to invigorate the Islamic banking industry resembling with full-developed Islamic banks in most parts of the world and most of all, they are doing fine job to bring customers from conventional banking to Shariah-compliant business. The Tabung Amanah Islam Brunei was the first …