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Finance & Market

Islamic agricultural finance — An ideal product for the development of rural economy

  The agriculture sector lacks financial resources, due to which small-scale farmers are facing a lot of problems, consequently affecting the agriculture and livestock sector. But in Muslim countries including Pakistan, the primary reason behind the lack of financial inclusion in the agricultural sector is unavailability of such financial products that are in correlation with the religious and social belief of the Muslims and if we want to promote agriculture …

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Foreign remittances remain a major source of earning forex for the country

  After persistent decline in the country’s exports, the foreign remittances are now intend to be a major source of forex earning for the country. Efforts are underway at different levels to produce trained human resource, can serve abroad and earn precious forex for the country. In this regard, TEVTA, NAVTEC and other training institutions are playing lead role. Overseas Pakistani workers remitted $12,714.57 million in the first eight months …

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Home remittances by Pakistani workers assume considerable importance

  Provides a vital cushion to foreign exchange and money market stability The home remittances by overseas Pakistanis have become a considerable source of external flows, which have provided the much needed cushion to foreign exchange as well as money market as both money and foreign exchange markets exhibited relative tranquility in Pakistan. While talking to PAGE, Sirajuddin Aziz, President and CEO Habib Metro said that Pakistani banks and other …

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Lower interest rates spur consumer finance business

  Auto financing set to grow up after the positive outlook of economy The main advantage of low interest rates is their growth effect on economic activity. By reducing interest rates, the Central Bank helped increase business spending on capital goods. The reduction also helps economy’s long-term performance and increase household expenditures on homes/consumer durables. Low interest rates raise asset prices. People use excess balances to increase their purchases of …

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Huge scope of consumer financing exists in house financing

  Interview with Mr Sirajuddin Aziz — CEO & President HabibMetro Bank Country faces shortage of 8-10 million new housing units PROFILE Sirajuddin Aziz is a professionally qualified and experienced banker who has worked for different organizations in Pakistan, China, Hong Kong, UK, Nigeria and UAE. He is currently the President & Chief Executive Officer at HabibMetro Bank. Prior to this, he has served as the Chief Executive Officer of …

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Viable Islamic banking system – A respite for common man

  Many International Financial Institutions are keen to invest in the field of Islamic banking and finance in Pakistan In the face of growing demand for the Islamic banking products, different International Financial Institutions are showing interest to invest in the field of Islamic Banking and Finance in Pakistan. In the last three decades, a number of new Islamic financial products have been developed primarily by applying Islamic nominate contracts …

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Takaful penetration getting much appeal and gearing up

  Takaful is a Shariah-compliant alternative to conventional insurance. In the present age, the need and significance of insurance cannot be overlooked, but the present rules and practices utilized under insurance are against the teachings of Islam. Islamic scholars have presently deliberated over this matter for many years and devised the concept of Takaful. Takaful business is based on a huge pool of finances, where a great number of clients …

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Malaysia remains world’s top center for Islamic capital market activities

  Islamic banking and finance has become a flourishing business with assets estimated at value of over US$180.0 billion. It is spreading from UK, USA and Switzerland to the Middle East and Asia. Both Muslims and non-Muslims are using extensively the facilities being provided by Islamic banking and finance. Malaysia and Pakistan are well known for its Islamic banking and finance system. Both being the Muslim countries, the Islamic financial …

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Standard Chartered takes lead in offering ‘Cheque Printing Facility’

  Standard Chartered Bank Pakistan Limited (SCBPL) is the oldest and largest global bank in Pakistan. STANDARD CHARTERED BANK IN PAKISTAN STOCK EXCHANGE (Rs) Date LDCP Open rate Closing rate Turnover 1-Jan-16 21.9 22.49 22.49 3,500 4-Jan-16 22.49 21.75 21.41 31,000 5-Jan-16 21.41 21.88 21.7 1,000 6-Jan-16 21.7 21.5 21.36 3,000 7-Jan-16 21.36 21.83 21.7 3,000 8-Jan-16 21.7 21.69 21.7 1,500 11-Jan-16 21.7 20.8 20.94 1,500 12-Jan-16 20.94 21 21 …

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Mutual Funds are high efficient investment vehicles

  Educating people about multiple benefits of investing in mutual funds is crucially important Interview with Mr. Umber Tanya Ansari – Head of Marketing, UBL Fund Managers Profile Umber Tanya Ansari, have her passion to take initiatives and strategies especially to educate the masses and meet ever-increasing challenges faced by Funds Management industry, Prior to her responsibility as the Head of Marketing UBL Fund Managers, Umber was Regional Head of …

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