Islamic Banking In Pakistan Case Study

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The State Bank of Pakistan (SBP) is the central bank of Pakistan. The headquarters are located in the financial capital of Pakistan, Karachi with branch offices in 15 cities across Pakistan, including the capital city, Islamabad and the four provincial capitals. The State Bank of Pakistan looks into many ranges of banking to deal with changes in the economic climate and different purchasing and buying powers. Here are some of the banking areas that the bank looks into: 1) State Bank’s Shariah Board approves essentials and model agreements for Islamic modes of financing 2) Banking sector supervision in Pakistan 3) Microfinance 4) Small and medium enterprises (SMEs) 5) Minimum capital requirements for Banks 6) Remittance facilities in Pakistan 7) Opening of foreign currency accounts with banks in Pakistan under new scheme 8) Handbook of corporate governance 9) Guidelines on risk management 10) Guidelines on commercial paper 11) Guidelines on securitization 12) SBP Scheme for agricultural financing Role of Islamic banking industry of Pakistan Islamic Banking Industry in Pakistan has been growing at a fast pace ever since its re-launch in 2001. Starting from almost…show more content…
The functional strategies and action plan for achieving objectives in each area have been developed in consultation with the Islamic Banking Institutions and their Shariah advisors, SBP Shariah Board members, academicians, internal SBP departments, Securities and Exchange Commission of Pakistan (SECP) and Institute of Chartered Accountants of Pakistan (ICAP). It is expected that with the implementation of this strategic plan, Islamic banking industry will grow prudently and distinctly with enhanced acceptance and confidence of the general masses contributing in the economic development of the

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