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...
By incident on approach to Askari Bank Malir Cantt, I came to know that non-filers are not allowed to open foreign currency accounts. It is agreed that efforts are required to clean up untaxed money from the banking system but this was not the right way as it would hurt...
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...
General Aslam Baig former COAS of Pakistan in his article “Caliphate is Gone, but ISIS is Not” published in Newyork Times on 28th March 2019 has well defined that “The ISIS phenomenon is not new Such a phenomenon first occurred in 37 AH, by the name of Kharjis, who...
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...
Now a days if you we watch social, electroninc and print media of India and Pakistan than everybody is looking conquering other. On both sides the sanity looks missing and the writers or anchors who blame other on both sides of the border with low graded words and arguments...