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Tag Archives: Finance

High quality bankers can help promote Islamic finance

  Islamic banking has been growing fast to capture 20pc share in the overall banking industry by 2020: Experts Asia is expected to be the key driver in advancing the growth of the Islamic finance industry. Pakistan is among potential leaders of Islamic finance with huge Muslim population of over 180 million. Although, Islamic banking in Pakistan is growing but there is still a lack of Islamic banking professional. There …

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Consumer finance business taking great effects in Pakistan banking sector

  Meezan Bank’s Vendor and Distributor Financing Program strengthening the small scale industries Interview with Muhammad Raza — SEVP & Group Head-Customer Support, Meezan Bank Profile Muhammad Raza is currently the Group Head of Customer Support at Meezan Bank, Pakistan’s first and largest Islamic bank. His educational background includes a Bachelor of Engineering from DCET, NED University of Engineering & Technology and a Master’s degree in Business Administration from Institute …

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Prime role of Islamic banks in housing finance

  Pakistan’s housing crisis is well known. The country requires about ten million homes. Migration from rural areas to urban areas has resulted in an urban growth, which has been about three times faster. According to sources, Pakistan’s urban population stands at 75 million or 39 percent of total population, and population experts believe that it will rise to 114 million by 2025. The lack of funding is the biggest …

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Importance of effectual debt management

Public debt mounts to Rs 18.9 trillion Effective debt management is necessary for developing a feasible and stable debt portfolio. It mitigates the risks of refinancing, exchange rate fluctuations and debt accumulation that could impede economic growth and stability. Prudent utilization of debt leads to high economic growth and assists the government to accomplish its social and developmental goals. DEBT POSITION IN PAKISTAN (Rs. in billion) Year Public debt Domestic …

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Pakistan’s Islamic banking industry making strong progress amid record assets and deposits

  Presently Pakistan is one of the active and effective players in worldwide Islamic finance industry and State Bank of Pakistan (SBP) has remained at forefront in developing and promoting Islamic finance in the country. Learning from past experience, SBP adopted an evolutionary approach for establishing Islamic banking in Pakistan in 2001. Since then and the industry commencing from scratch in 2001, has increased above 11 percent share in assets …

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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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International Reckoning For Islamic Finance Industry In Pakistan: SBP — globally polled as the best central bank for promoting Islamic finance

  State Bank of Pakistan (SBP) was voted as the best Central Bank for promoting Islamic Finance by a poll conducted by International Finance News, an arm of REDmoney Group, Malaysia. The votes were received from various institutions, practitioners and academicians from all over the world. After the announcement, Deputy Governor, SBP Mr. Saeed Ahmad stated “SBP remains committed in promoting Islamic banking and finance and will continue to play …

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Tax-to-GDP ratio is not an indicator of actual economic strength of Pakistan

  New tax scheme introduced by present government may give a big push to tax regime in Pakistan Tax-to-GDP ratio, which revolves around 10-11 percent does not reflect the actual strength of the economy primarily due to a vast majority of trade and industry avoid documentation on various grounds including chronic issue of corruption, misconception about tax regime due to lack of education and last but not the least the …

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