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...
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...
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...
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...
Immediate economic problem of the PTI government are highly bulged twin deficits i.e. current and fiscal deficits. In fact both are two faces of the same coin. For this PTI government is now approaching IMF after lot of U Turns.
In simple words look for budget 2018-19. Half of it...
The past few days have seen SBP raise policy rate by 50bp 1.e 10.75% and March inflation coming in at 9.4%. But SBPs tone looks worried pointing out elevated levels of inflation, high current account and fiscal deficit and higher M2 growth. Given the present scenario interest rates may...
One is from FATF a global task force that has already asked Islamabad to comply with 40 recommendations made by the Force in January 2019. Now another force i.e. APG an inter-governmental organization modeled on the lines of the Financial Action Task Force (FATF), is asking in curbing money...
For giving a look over current state of Pakistan economy and role of digitalization in its growth a conference was held at Marriot Hotel Karachi on 27th March 2019. President Karachi Chamber of Commerce & Industry Junaid Esmail Makda, Advisor Banking & Insurance Subcommittee Ateeq-ur-Rehman, CEO the Professionals Network...
