1
1
HOME 1 ABOUT US 1 SERVICES 1 ONLINE MAGAZINE 1 TRUE BANKING 1 CONTACT US
  > Magazine Home
  > Takaful News
  > Sukuk & Funds News
  > Articles
  > Free Subscription
 
AlHuda CIBE introduces Islamic Financial products for Agriculture Sector:   
A two day workshop was held by AlHuda CIBE at NIBAF, State Bank of Pakistan in Islamabad on Islamic Agriculture Finance where Islamic Financial products were introduced for the agriculture sector to facilitate the Islamic Banks and Financial Institutes to promote the agriculture sector in the country.
 
AlHuda CIBE: Training Workshop on Islamic Agricultral Finance at NIBAF - State Bank of Pakistan - Islamabad.
 
 
 
 
1
Sukuk holding limit for SLR raised to 7pc
1
1
 
 

The State Bank of Pakistan has raised the limit of Sukuk holding for SLR purposes from 5 per cent to 7 per cent and also declared Term Finance Certificates (TFC) of electric companies acceptable for the same purpose.

The latest move of the SBP was to facilitate banks facing liquidity shortage. The SBP in its’ mid-term monetary policy further tightened the grip over liquidity in the banking system. In the same monetary policy Statutory Liquidity Requirement (SLR) and Cash Reserve Requirement (CRR) were raised.

“It has been decided to raise the limit on total sukuk holding for SLR purposes from 5 per cent to 7 per cent of total Time and Demand Liabilities with immediate effect,” said a SBP circular issued on Tuesday.

“However, individual holding in sukuks of one issuer will be limited to 5 per cent of total Time and Demand Liabilities,” said the circular.

The SBP issued another circular, which allowed the TFCs of three electric companies to be acceptable for SLR purposes.

“Term Finance Certificates of Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO), have been notified as ‘Approved Security’ for the purpose of Statutory Liquidity Requirement (SLR),” said the circular.

However, overall holding of these TFCs and Pakistan Investment Bonds for SLR purposes should not be exceeded 5 per cent of the Time and Demand Liabilities.

 
 
1
1
1
1
 
1
 
1
 
1
 
 
 
 
 
Copy Rights Reserved 2006-2007alhudacibe.com
1