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
 
Awqaf South Africa and AlHuda-CIBE sign an MOU at Johannesburg
AWQAF SA and Pakistan based Al Huda Centre of Islamic Banking and Economics (Al Huda CIBE) formally entered into a Memorandum Of Understanding (MOU) at Gallagher Estate, Sandton , Johannesburg, at the closure of the International Conference on Islamic Banking and Finance in Africa organized by AlHuda CIBE.....
 
Mr. Zuair Mughal, CEO Alhuda CIBE & Mr. Zeniel Kajee CEO Awqaf South Africa at MOU signing Ceremony
 
 
 
1
State Bank working to develop Shariah compliant short-term securities: Salim Raza
1
1
 
 
Syed Salim Raza, Governor, State Bank of Pakistan has disclosed that SBP is actively working with the industry and the Federal Government to develop Shariah compliant short-term securities which will be issued on regular basis.

Speaking on the occasion of a talk on ‘Current Islamic Banking Paradigm and the Way Forward’, Mr. Raza said that State Bank’s immediate objective is to improve and diversify avenues for short-term liquidity management for the Islamic banking industry.

“ Islamic banks in Pakistan have to live with the big constraint of only being able to place their surplus funds with other Islamic banks, in the absence of suitable investment opportunity,” he said and added that this market gap both limits earnings, and inhibits aggressive deposit mobilization drives.

Mr. Raza said the Islamic banking in the country, from a modest start in 2002, has made a good progress and achieved 6% market share. “The heightened global interest in the subject, particularly after the recent financial crisis, leads one to expect that Islamic banking will make more rapid strides globally and in Pakistan,” he added.
 
1
1
1
1
 
 
 
1
 
1
 
 
Copy Rights Reserved 2006-2007alhudacibe.com
1