37
days to go
Date: 1st August 2018 Venue: State Bank of Pakistan, Karachi

Promising Pakistan

Favorable demographics and strong political will have helped Pakistan to become one of the world’s most promising Islamic financial markets.

Home to the second-largest Muslim population globally, the Pakistani government is committed to advancing its Shariah finance industry with effective regulations and measures, and it has had considerable success building its industry from banking, funds, Sukuk and Takaful.

As at the end of the first half of 2017, the market share of Islamic banking assets and deposits against the overall banking industry reached 11.6% and 13.7% respectively. The Islamic Republic has consistently continued to grow its Shariah banking capabilities: in June 2017, Shariah banking assets grew 16.6% while deposits increased by 17.7%.

The South Asian nation has also made its mark in the Sukuk landscape: under its Sukuk regulations, the sovereign has tapped the international market several times including a US$1 billion facility in November 2017 which received overwhelming demand; outstanding government of Pakistan Sukuk Ijarah reached PKR385.4 billion (US$3.28 billion). The positive Sukuk momentum is also gaining ground in the corporate space.

The State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP) continue to support the industry and have dedicated themselves to building an enabling environment for the industry. Most recently, the SECP introduced the new Shariah Governance Regulations while the SBP in 2017 issued detailed guidelines for the conversion of conventional banks into Islamic banks and facilitated tax neutrality for Shariah compliant transactions.

Yet, the Islamic Republic still has room to grow and realize its full potential. It is against this backdrop that IFN returns to Pakistan with its acclaimed IFN Pakistan Forum series which provides local regulators and market players as well as interested stakeholders an impartial and invaluable platform to identify critical issues and discuss objectively potential solutions.

 

 

 

 


SUPPORTED BY

State Bank of Pakistan

MULTILATERAL STRATEGIC PARTNERS

The Islamic Corporation for the Development of the Private Sector (ICD)
The Islamic Corporation for The Insurance Of Investment And Export Credit (ICIEC)
International Islamic Trade Finance Corporation
The Islamic Solidarity Fund for Development (ISFD) IDB Group Business Forum (THIQAH) 

HOST MEDIA PARTNERS

Islamic Finance news
IFNFintech
IFN Corporate

MEDIA PARTNERS

CMO Asia
ICO Holder

 

 

 

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