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…
Does Pakistan need domestic debt restructuring?
There is growing consensus over the need for debt restructuring within the policymaking community. However, many analysts are casually selling the idea of domestic debt restructuring without fully recognizing the…
Islamic finance: broad-based efforts needed
Islamic finance has been growing leaps and bounds and is considered the fastest growing sector in the global finance and domestic economic system. The total assets under management (AUM) in…
Islamic banking nears its big breakthrough in Africa
Islamic banking has grown rapidly around the world but the industry remains in its infancy in Africa. However, that might be set to change. There was a noticeable buzz at…
Democratisation of capital – PTI’s Islamic finance policy
"The adoption of Western economic theory and practice will not help us in achieving our goal of creating a happy and contended people. We must work our destiny in our…
FATF and global Politics
Rarely does China express its opinions on global politics vocally. But in the case of politicization of FATF, it has minced no words. It strongly expressed its indignation over the…
Full reserve banking: Part – III
Instead of keeping cash, depositors prefer to continue storing their money in banks despite nominal associated fees, if any. This trend has been evident over the last 20-30 years in…
Full reserve banking: Part – I
Pakistan’s significant debt servicing problem can be resolved through full reserve banking, eliminating high inflation, huge government domestic government debt, and interest costs. Full reserve banking represents a transformative shift…
Who should be the finance minister?
Asking the wrong question is one of the most prominent qualities of the Pakistani public discourse. ‘Who should be the finance minister?’ is the wrong question. Whoever is made finance…
Fair elections and economic stability
“Gross financing needs are very large, mostly due to large debt service payments, while external market financing has dried up. Confidence is weak, and credit rating agencies have downgraded Pakistan…
