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Tag Archives: Shariah

Islamic banking – potential of growth reasonably high

Islamic banking has been defined as a system of banking, which is in accordance to the values and the spirit of Islam and is based on principles, which have been put forth by the Islamic Shariah. Not only does this form of banking avoid any interest-based transactions, it also avoids unethical and immoral social practices, which go against Islamic law. Thus the aim of Islamic banking is to work towards …

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Islamic bond market whimpering over the dearth of investment avenues

  While investors have been increasingly fishing for Shariah-compliant investment options, conventional banks and asset management companies, in order to cater to the growing demand for Islamic products, were seen jumping into bandwagon. Ijarah Sukuks are Shariah-compliant medium term investment instruments with 6-monthly (floating) profit payments guaranteed by the Government of Pakistan (GoP). SBP announces profits for Sukuk every 6 months. Facilities of further investment and premature encashment through reselling …

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Growth in Islamic finance taking velocity

  Islamic finance – A market brief: Islamic finance based on principals of Shariah provides an alternate to conventional banking. Islamic banking industry size is estimated to be USD 400 billion with potential to grow at minimum 15 per cent to 20 per cent globally per year, much faster than conventional financial institutions. This has been the same trend over the last 5 years since 2008. Islamic Banking assets globally …

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Growing Islamic finance industry amid challenges

  Pakistan is a major contributor towards the growth and development of Islamic finance industry. After global financial meltdown in 2008, the ability of Islamic finance to introduce greater discipline into the financial system owing to its inherent strengths indicates this system is a viable option to avert financial crises. Islamic banking is a growing reality, which has transcended outside the traditional borders of Muslim countries into western economies. At …

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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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More shariah-compliance products may help grow Islamic banking

  Islamic banking is one of the emerging fields in global financial market nowadays. It is growing at very fast pace all around the world. The tide is little slow in Pakistan as Islamic investment banks and Islamic venture capital funds are yet fully launched here. Muslims generally abstain from purchasing insurance policies on religious grounds and have reservations on banking, which also involves payment of interest. They believe that …

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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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Islamic banking shining bright in Pakistan

  Meezan Bank has now emerged as country’s premier Islamic bank When the present PML-N government took over in 2013, the share of Islamic banking in the country was about 9 percent, which is fast approaching about 13 percent, primarily because of the proactive approach of the Ministry of Finance and the State Bank of Pakistan. Meezan Bank, the recipient of the Shariah Authenticity Award has now emerged as a …

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JS Investments pioneer in securing financing under shariah laws

  JS Investments Limited (JSIL) is the oldest and one of the greatest private sector asset management firms in Pakistan, with a broad range of mutual funds, Islamic funds, pension funds and separately managed accounts, formed after keeping in view the client needs and requirements. JSIL is a member of MUFAP (Mutual Fund Association of Pakistan) and is catalog on the Karachi Stock Exchange. With the experience of 20-year in …

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