A proposal has come from Turkish President Recep Tayyip Erdogan and Malaysian Prime Minister Mahathir Mohammad during Malaysian PM Visit to Turkey that Pakistan, Turkey and Malaysia can lead towards the Muslim renaissance. Addressing a joint press conference along with visiting Malaysian Prime Minister, Erdogan said, “Statements are easy to...
After a year and a half of frosty relations between the United States and Pakistan, which saw the cessation of U.S. security assistance to the Pakistan now indicate a thawing of relations between the two countries remaining sometime ally and sometime not. The visit of Imran Khan has brought good...
As anticipated by rating agencies like Bloom Berg, Governor State Bank, Dr. Reza Baqir has announced 100 bp i.e. 1% increase in the SBP policy rate from July 2019.The State Bank had started monetary tightening since May 2018, when key policy rate stood at 6 percent. Since May 2018...
Muhammad Arif Money Market, Former Member of Access to Justice Fund Supreme Court of Pakistan. Apart from gloomy environment something better was supposed to have started happening for Pakistan. Mostly on foreign fronts and some on economic fronts. Imran Khan Visit to USA in the wake of coming agreement with Taliban is...
Day by day confusion is on increase on our political fronts. Opposition is only criticizing but doing nothing practically and government is maligning every opponent and sending them behind the bars. Now they have started arresting opponents even on drug charges and stopping even Speaker to issue production orders...
Muhammad Arif Now Baqar Reza has taken charge of new Governor of SBP and has given a lecture to the press on his Monterey policy philosophy but actually people don’t understand these briefings and they remain more interested in results that impact their life. Governor, State Bank of Pakistan (SBP), Dr....
Muhammad Arif Facts about Islamic Finance in Europe Information about Islamic finance in European countries is usually provided by professional-style reports, offering practical data on implementation of standardized products. However, precise developments about material legal provisions applicable to contracts and their actual legal regime are not often detailed. In order to...
Written by Muhammad Arif Chairman Centre of Advisory Services for Islamic Banking and Finance (CAIF), Former Head of FSCD SBP, Former Head of Research Arif Habib Investments and Member IFSB Task Force for development of Islamic Money Market, Former Member of Access to Justice Fund Supreme Court of Pakistan In a series...
Before going on budget 2019/20 announced just after one day of Zardari arrest and Hamza Shahbaz to overshadow the budget proposals, let us see first, what its effects would be. In lump sum it is anti investment and anti common man budget. It would bring at least Rs 5000/ per...
Now on political and economic front most of vocal voices say that within 9 months it was not possible to bring any change. Further it is also being said that whole crisis is due to those who were on rule before PTI. Pakistan huge debts and twin deficits have...
Muhammad Arif We are at the end of May 2019. It is almost the end of holly Ramadan for this year. But with the arrival of Eid on 5th June, Federal Budget is due to be out on 10th or 11th of June 2019 with economic survey one day before...
Profit and Loss Sharing (also called PLS or "participatory" banking is a method of finance used by Islamic financial or Shariah-complaint institutions to comply with the religious prohibition on interest on loans that most Muslims subscribe to. Many sources state there are two varieties of profit and loss sharing used by Islamic banks – Mudarabah  ("trustee finance" or passive partnership...
PKR is vacillating around RS 153 per US$ and is speculated to go above Rs 160 and even some says above Rs 200 in the coming months. In Sept 2018 it was at Rs 121/- . This has started a discussion in the media and notable circles that what are...
Muhammad Arif As a first step SBP monetary policy was a test for new Governor of SBP Dr Reza Baqir. The Policy was announced on 20th May with an increase of 150 BP reaching to 12.25% effective from 21st May 2019. The bank announced that changes occurred due to certain...
Muhammad Arif Dr Reza Baqir has been appointed new Governor of State Bank of Pakistan. He is a graduate of Harvard University and was IMF’s senior resident representative for Egypt before his appointment. He has also remained head of mission for Romania. The new SBP Governor has completed PhD in...
Pakistan at the end of IST first four months of 2019 and some days away from its Federal Budget of FY 2020 is encircled by lot of turmoil’s. Apparently PTI government is relying on cases against PML N and PPP leadership and with time to time by making changes in...
HEC founding chairman Dr Attaur Rehman at the time of Musharaf, now chairperson of Prime Minister’s taskforce on Science and Technology in PIT government and a well-known scientists of Pakistan (Organic Chemistry), in a letter to PM has criticized the current role of HEC pointing out that six programs...
Assad Umar has now been replaced with Dr Abdul Hafeez Sheikh who has remained Finance Minister for the Zardari government and in Musharraf time between 2010 and 2013 and 2000 and 2002. His performance was like other finance Ministers of Pakistan and some time he was removed due to...
PKR is vacillating around RS 143 per US for some time. In Sept 2018 it was Rs 121/- . Hence within a month it has depreciated by 14%. This has started a discussion in the media and notable circles that what are the actual reasons of this depreciation. Some circles...
After 8 months in power, and lashing on PML N and PPP making them responsible for every issue in Pakistan, PTI is now switching towards another debate and that is to install Imran Khan as President of Pakistan or in another case to bring some other person suitable for...