By launching media campaign on Islamic Banking, State Bank has deviated from its two prime responsibilities. i.e. to Regulate Banking Sector without taking any body’s side and secondly to align whole Banking Sector as part of its Monetary Policy. Islamic Banking now with more than 1300 branches is holding deposits...
Former Member of IFSB on Islamic Money Market, Former Head of FSCD SBP, Former Head of Research Arif Habib Investments, Member visiting Faculty/ KASBIT/BIZTEK/Sheikh Zayed Institute University of Karachi/PAF KIET/MAJU There is a popular belief that Islamic finance or banking is for Muslims for their personal satisfaction and for getting...
Under red hot sun in the month of June, a 7-year old child was sitting outside my house playing with something. He was looking unaware of the intensity of the heat. On asking, what he was doing, the child replied that her mother is working in the next door...
Former Member of IFSB on Islamic Money Market, Former Head of FSCD SBP, Former Head of Research ArifHabib Investments, Member visiting Faculty/ KASBIT/BIZTEK/Sheikh Zayed Institute University of Karachi/PAF KIET/MAJU Like other persons I entered in to Saudi Arabia on April 20 and left on May 17. Within stay I performed...
Muhammad Arif Takaful Industry is growing rapidly around the world with 230 Takaful Companies, 13 Re-Takaful companies with the total volume of $11 Billion. Takaful was started in 2005 in Pakistan when Securities and Exchange Commission of Pakistan (SECP) introduced Takaful Rules 2005 according to which only full fledge takaful...
Former Member of Task Force on Islamic Money Market IFSB, Former Head of FSCD SBP, Former Head of Research ArifHabib Investments, Member visiting Faculty KASBIT/BIZTEK/Sheikh Zayed Institute University of Karachi/PAF KIET/MAJU Islamic banking has emerged as a market phenomenon in 70’s era and then started spreading. It got pace in...
At times we forget the consequences of events once we move away from them. Today, our Financial markets are on recovery and the wounds of the 2008 global financial crisis have healed for active market participants but overall economic scenario is confused. If the governments and each of the regulators...
By Muhammad Arif The very first thing you will see if you take a look at Muslim countries is that; “Muslim countries are poor.” But, it is growing. GDP of OIC (Organization of Islamic Conference) is growing at the rate of 5 percent a year. For example, total GDP of Muslim...
Islamic Banking-lot Needs to be Done Islamic banking has now become a reality but still it needs to be developed a lot. Islamic Banking and Finance based on Islamic economics comes from the trading activities of any society with the objective to achieveits welfare goals. As provided in advertisements of Islamic Banks...