Tag Archives: Islamic

  A $2 trillion plus industry, Islamic finance is said to have progressed in leaps and bounds – a staggering average growth of 17.6% during 2009-13 and a further growth forecast at an augmented rate of 19.7% through 2018. While 80% of the finance remains deployed in non-interest-based, conventional banking transactions carried out through Islamic banks or Islamic windows of traditional banking units, 15% is taken up by Islamic bond …

  A truly Shariah-compliant product is a must for the Islamic banking model to be sustainable While the Islamic Banking industry in Pakistan has been growing at a fast pace ever since its re-launch in 2002, the government is making all out efforts to develop an alternate system for all segments of the banking industry. Official sources claimed that a plan of Islamic products for National Saving Scheme (NSS) is …

  Islamic funds have actually provided a window to a number of individuals, who were previously reluctant to invest because of their religious beliefs. In adherence with principles of Shariah compliance these funds and their usage play key role in the global economy, covering the financial needs of the currently underserved Muslim population. Unfortunately, this Islamic financing are facing numerous challenges for its growth in the country and still at …

  Terminos is considered as the best core banking system in the world whereas the Terminos Group is the leading software solution provider in the world. Terminos globally is used by more than 2,000 financial institutions, which includes 38 of 50 top banks. The system collectively manages more than 500 million customers in the world. Not only does Terminos T24 serve conventional banking, the system has been modified for Islamic …

  Profile: Chief Executive Officer – AlHuda Centre of Islamic Banking and Economics (www.alhudacibe.com) Chief Executive Officer – Islamic Microfinance Network (www.imfn.org) Chief Executive Officer – Halal Research Council (www.halarc.org) Papers presented at International conferences: South Africa, Afghanistan, Kenya, Kazakhstan, Pakistan, China, U.A.E, Turkey, Russia, Jordan snf Yemen.   Islamic banking and finance Islam is not only a religion in the ordinary sense of the word, but a complete system …

  Growing inequalities necessitate departure of economic activities from concept of fast growth of GDP to creating happiness for all. Renowned economists ranging from Adam Smith to J. M. Keynes of 19th and 20th centuries and those living in 21st century have no doubt emphasis on economic welfare of the masses, but theories propounded by them are based on assumption like free market economy, free trade aiming for creating trade …

  Pakistan is a major contributor towards the growth and development of Islamic finance industry. After global financial meltdown in 2008, the ability of Islamic finance to introduce greater discipline into the financial system owing to its inherent strengths indicates this system is a viable option to avert financial crises. Islamic banking is a growing reality, which has transcended outside the traditional borders of Muslim countries into western economies. At …

  Pakistan’s housing crisis is well known reality as the country requires about ten million homes. Migration from rural areas to urban areas has resulted in an urban growth, which has been about three times faster. Pakistan’s urban population stands at 75 million or 39 percent of total population while experts believe that it will (population) rise to 114 million by 2025. The lack of funding is the biggest obstacle …

  Islamic microfinance represents the confluence of two rapidly growing industries: microfinance and Islamic finance. It has the potential to not only respond to unmet demand but also to combine the Islamic social principle of caring for the less fortunate with microfinance’s power to provide financial access to the poor. Unlocking this potential could be the key to providing financial access to millions of Muslim poor who currently reject microfinance …

  Islamic car financing has been fully introduced by the banks and financing companies all over the country. Here are some of the most prominent Islamic car financing banks, which are providing services to the customers under the terms and conditions of Islamic loan system. Meezan Bank Meezan Bank, Pakistan’s first and largest Islamic bank has been awarded the ‘Most Popular Bank’ in Pakistan’s Islamic auto financing sector in the …