IslamicFinance.de

Islamic banking industry in Pakistan has been growing at a fast pace ever since its re-launch in 2002 and now represents over 12 percent of overall banking industry with 19 Islamic banking institutions offering Islamic banking products and services through a network of over 1300 branches across the country. The State Bank pf Pakistan (SBP) has announced a five-year strategic plan for the Islamic Banking Industry (IBI) aimed to provide a roadmap to the industry for the next level of development. Moreover, SBP has decided to strictly monitor the performance of the Islamic Banking industry in order to ensure that they are operating according to Sharia. Besides, SBP is working on its major role to ensure the participation of every citizen in the financial system, through its Financial Inclusion Policy.