State Bank of Pakistan in its Prudential Regulations has defined Small & Medium Enterprises as follow: According to AC&MFD Circular Letter No. 03 of 2019, in order to provide enabling regulatory…
Category: Weekly Islamic Pages
Islamic Banking Page 05-06-2020
What Financial Inclusion means and how through Islamic Finance it can be achieved There is no universally agreed-upon definition of “financial inclusion”. In simple words it means diverting funds towards eliminating poverty…
Islamic Banking Page 29th May 2020
Zakat, one of the five pillars of Islam, means giving a fixed portion of your wealth to the needy people. In Pakistan, Zakat is collected on the basis of Sahib e Nisab…
Islamic Banking Page 24 May 2020
Muslims all over the world are due to celebrate Eid-ul Fitr, the festival which marks the end of Ramadan, the month of fasting. This is when many Muslims pay their annual zakat – a religious tax…
Islamic Banking Page 15 May 2020
Islamic Finance as part of Corona Virus Response Islamic finance – an amalgamation of Sharia law and modern banking – has become more than $2 trillion business over the past two decades,…
Islamic Banking Page 8th May 2020
Month of Ramadan and Islamic Banking For many of us, the holy month of Ramadan has come to mean only taraweeh, Sehri and iftar. In the rush to prepare for social occasions…
Islamic Banking & Finance Page 01-05-2020
What Riba means The basic objective of Islam is against anything that oppresses people and in this way interest (Riba) comes in its way that has many ways of exploiting others, namely…
Islamic Banking & Finance Page 24-04-2020
Whether a system with no Riba (zero interest rate) can be evolved In Corona virus epidemic which looks more dangerous for the economies than 2007 financial crisis, questions are rising that whether…
Islamic Banking & Finance Page 17-04-2020
How Islamic Banks should perform in Corona Virus Epidemic-case example of Meezan Bank Despite its small size, the Islamic banking sector has achieved tremendous growth in recent years. According to the IMF,…
Islamic Banking & Finance Page 10th April 2020
Growth of Islamic Banking and Finance under Corona Virus epidemic in 2020 Like other multinationals, Islamic Development Bank (IsDB Group) is also setting up a special $730 million fund to mitigate the…