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...
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...
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 Today we are living in a confused environment. Everything is looking moving towards segmentation. Government is claiming revival of economy with 5.3% GDP growth. This is the same trend where US and other countries are claiming to have moved towards somewhat growth. But on social side this means...
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...
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...
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...
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 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...