ISLAMIC BANKING AND FINANCE PAGE 3rd May 2019
Story of Two Islamic Banks of Pakistan
Assets of Islamic banking industry were recorded at Rs. 2,658 billion. Similarly, deposits of Islamic banking industry stood at Rs. 2,203 billion by end December, 2018. Market share of Islamic banking assets and deposits in the...
World
Politics
· Top Sri Lankan officials withheld intelligence on attacks -minister
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A video released by ISIS showed eight men purported to be the Sri Lankan attackers.
Senior officials deliberately withheld intelligence about possible attacks on Sri Lanka, where suicide bombings on Easter Sunday killed at least 359 people, the leader of...
Islamic Banking and Finance in 2019-Moving Forward
Various released reports including Thomson Reuters, IMF, World Bank for the period ending Dec 2018, show buoyant figures for the Islamic finance industry and is positive for further growth in the near future.
According to the reports the global Islamic finance industry grew by...
Politics
· Twenty-eight dead in Portugal tourist bus plunge, says official
A bus carrying tourists in Madeira has crashed killing 28 people, an official has said. Local mayor Filipe Sousa told a Portuguese news channel the victims included 17 women and 11 men. He said most of those on board were German tourists, and it...
Regulators are required to come up with fair Conduct of Takaful Business
The conduct of business of providers and intermediaries of insurance products (including takāful) in relation to consumers is a matter of widespread regulatory attention.
The literature shows that a number of characteristics of retail insurance products can create conditions...
World
Politics
· Dalai Lama ‘doing fine’ after hospitalization with chest infection,
The Tibetan spiritual leader, the Dalai Lama, was admitted to hospital in the Indian capital of New Delhi with a chest infection, but is doing fine, an aide said on Wednesday, as social media users prayed for the Buddhist monk’s fast recovery. The...
World
Politics
· Venezuelans protest as Guaido declares 'definitive' escalation
Venezuelan opposition leader Juan Guaido on Saturday launched what he promised will be a "definitive" escalation of pressure to force the country's embattled leftist leader from office. Addressing a giant anti-government rally in Caracas, Guaido -- whose claim to be interim president...
World
Politics
EU leaders know, in theory, that all Brexit options remain on the table and they haven't entirely given up hope of a negotiated UK departure, but there is little trust here that the prime minister or Parliament will manage to pull it off.
Ongoing Brexit divisions in parliament, in...
“A human does not tolerate another human being”. This is the theme behind each terrorist act. Recent examples are happenings in Middle East, USA, UK, whole Europe, Myanmar, Pakistan Afghanistan, India, Australia and now in New Zealand.
In this at least more than 50 people were killed in shootings at two...
World
Politics
· May's appeal falls flat as EU seizes control of Brexit date
The EU has handed Theresa May two weeks grace to devise an alternative Brexit plan if her deal falls next week after the prime minister failed to convince the bloc that she was capable of avoiding a no-deal...
Islam on overall economy and in line with teachings of Hazrat Muhammad (PBUH)
Muhammad Arif:
The property relationships define, to a large extent, the contours of an economic system. The two dominant systems of the present age differ from each other, largely, by the extent of freedom of an individual to...
World
Politics
· New Zealand terror attack
Fifty people have been killed and three people are in custody after an attacker opened fire during Friday prayers i.e. 15th March at two mosques in the New Zealand city of Christchurch. At least 30 people were killed at the Masjid Al Noor mosque in central Christchurch,...
How to support growth of Islamic banking and finance
Islamic banking is doing well in the world but some of the potential opportunities and challenges should be taken up to make Islamic banking more user friendly in every segment of economy and society. There is need to make a clear...
World
Politics
· UK to give jailed British-Iranian aid worker diplomatic protection
Britain is to give jailed British-Iranian aid worker Nazanin Zaghari-Ratcliffe diplomatic protection in an attempt to put pressure on Iran to release her. Foreign minister Jeremy Hunt said resorting to a little-used way for governments to seek to protection their nationals was unlikely to be...
Editorial
Seminar by National Bank of Pakistan titled as “Islamic Banking Challenges & Opportunities”
The seminar was held on 2nd March 2019. Aitemaad Islamic Banking Group Divisional Head Syed Muhammad Shahid and Syed Ibne Hassn Sr VP represented NBP who also played the role of moderator as well.
It was briefed...
World
· America Letter: $21m for innocent man after 37 years in prison
This week the city of Simi Valley in California announced it had made a $21 million (€18.4m) settlement with one of its residents, Craig Coley. Now 71, Coley spent 37 years in prison for a crime he did not...
Message
We have given some briefs of Islamic Banks operating in Pakistan and invite them to add something if they desire on their services and edge over others very briefly. We have also outlined 7 Questions to all the banks in Pakistan for their answers. Finally we are requesting everyone...
World
Politics-
· At least 81 killed and many injured in Bangladesh fire
A devastating fire that raced through densely packed buildings in a centuries-old shopping district in Bangladesh’s capital has killed at least 81 people.The fire in Dhaka’s Chawkbazar area was mostly under control after more than 10 hours of frantic...
Whether SBP deserves award for best Central Bank in promoting Islamic Finance?
Muhammad Arif
State Bank of Pakistan (SBP) has won the global award as the best Central Bank in promoting Islamic finance for the year 2018. The coveted award is conferred by Islamic Finance News (IFN), an arm of RED...
World
Politics-
· Aurora shooting: Five dead after attack at US manufacturing facility.
Five people have been killed and five police officers wounded in a shooting at a business in the suburbs of Chicago. Police chief Kristen Ziman said that Gary Martin shot at officers as soon as they entered the Henry Pratt...
