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...
The Islamic financial law has long history but Islamicbanking and finance industry came into existence with profit and loss sharing investment byEgypt’s Mit Ghamr Saving Banks in 1963. After official existence Islamic banking hasgrown in the area of finance, banking, insurance, mortgage, and assets management businesswith annual growth rate...
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 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...
n finance whether it is conventional or Islamic reward and risk go together, but unfortunately very little is being done specifically in Pakistan to avoid financial risks. In Pakistan Islamic financial institutions whether they are banks or funds or Takkaful (insurance) are new hardly with a life of 8 to...
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...
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...
It was March 2001. I telephoned to Research Centre of JS Bank from State Bank but it wrongly met with Mr. Sohail of that Centre. When he knew my name, he requested for a meeting. We met next day and there he proposed introduction of Karachi interbank Offered rate...
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...