Islamic banking: the challenges ahead
WILL our economic and financial system be able to eliminate riba (interest) by December 2027, as ordained by the Federal Shariat Court? If the past is any guide, this time…
Islamic finance for climate
THE 27th Conference of Parties to the United Nations Framework Convention on Climate Change, or COP 27, took place in Sharm El Sheikh, Egypt, last month. Against the backdrop of…
Low inflows of external financing
The first quarterly review of the IMF (International Monetary Fund) Stand-by Facility has been successfully accomplished by the Government. The efforts of the caretaker Government to adhere to the agreed…
Sustainability and Islamic finance
The unique characteristic of Medina Economics is the fact that almost all the building blocks of the Islamic economic system were completed in the lifetime of the Prophet Muhammad (PBUH)…
Islamic banking
Pakistan's economy has been experiencing pressure since past few years. The country's current account deficit swelled by 43% to highest-ever level of $18 billion in the fiscal year ended June…
Islamic finance industry: Diversity of challenges
Islamic banks are constantly challenged with excess liquidity and the country is constantly in dire need of funds. Sounds like a heavenly match. However, their paths often do not cross…
The Economy Of Terror Financing
The ever-expanding size of the black economy, which is said to have outpaced the sluggish growth of our white economy by a significant margin, serves as the safest and securest…
Islamic finance looks to outgrow bad habits as it expands
After a year of landmark deals which are opening new markets for Islamic finance, the industry is under fresh pressure to address some of its shortcomings and prove that it…
Promoting Islamic finance
The government recently formed a high-powered committee to examine the current state of Islamic finance and suggest measures for future development. The share of Islamic banks, introduced in Pakistan in…