According to the instructions of SBP, the burden whether a product passes Sharī‘ah compliance test, rests on the shoulders of IBIs’ Sharī‘ah Boards. Sharī‘ah scholars have been assigned the Divine responsibility of…
Category: Articles
Challenges to Pakistan in Multipolar world
Pakistan has been facing sever challenges since 1980s, after the former USSR’s invasion of Afghanistan. The history is full of challenges, but, being a most resilient nation, Pakistan has faced some of…
Current Issues in the Practice of Islamic Banking
Islamic banking started in earnest in the 1970s with personal initiative of the concerned Muslims to address the problem for riba. Things soon began to change in the late seventies and in…
The Most Important Current Global Issues and of Pakistan
They are- Climate Change. The global temperatures are rising, and are estimated to increase from 2.6 degrees Celsius to 4.8 degrees Celsius by 2100. … Pollution. … Violence. … Security and Well…
Beijing in 2022 2008: Two Olympics-two different Chinas
Beijing has become the first city to have hosted both the summer and Winter Olympics. But much has changed between 2008 and 2022. This time round, the mood, the host government’s attitude,…
What should be the monetray policy goals an article wrtitten by Riaz Riazuddin EX Dy governor of SBP
WHAT should be the goals of our monetary policy? Should it be to maintain price stability or promote growth, or both? It must be both, as universally accepted worldwide, because money and…
Islamic Stock Market Index in the world and of Pakistan Stock Exchange
In recent years Islamic financial instruments are much in demand. Islamic Banking or Interest Free Banking, Murabah or Cost-plus Financing, Mudaraba or Trust Financing, Musharaka or Partnership Financing, Islamic Insurance, Ijara or…
Coming elections for Imran Khan
Only a year has left for the next elections with no performance of the government and staggered opposition. Pakistan is a country where establishment always select governments. Let us see what happens…
What New Finance Bill 2022 means
The National Assembly on 14th January 2022, Thursday passed the Finance (Supplementary) Bill, 2021, termed widely as a “mini-budget”, despite vociferous protests by the Opposition over rejection of their proposed amendments and…
Environment to ensure Islamic banking (IB) financial stability and sound development
Islamic banking (IB) continues to grow rapidly, in size and complexity, posing a challenge to supervisory authorities and central banks. While accounting for a small share of global financial assets, IB has…