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Articles & Reports

Islamic banks are playing an active role in this aspect by putting comprehensive Shariah controls and mechanisms in place. The Pakistani Islamic Banking industry, particularly, Meezan Bank has made notable efforts and progress in this area. In the year 2013, Meezan Bank was recognized as the ‘Best Research & Development’ institution by the Global Islamic Finance Awards. This achievement goes onto show the support of the central bank which has led Meezan Bank as being referred to, a benchmark of Shariah Compliance in both local & global Islamic Finance industry.

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Riba (interest) free and Gharar (uncertainty) free nature of Islamic banking together with real asset/service-backed transactions ensure that an efficient,effective and robust risk management mechanism is in place in Islamic banks.

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The recent re-launch of Islamic Banking in Pakistan by SBP has been based not only on the lessons learnt from the history of Islamic Banking efforts in Pakistan but also on the experiences of other countries in the world that are currently known for their lead role in Islamic finance sector e.g.; Malaysia and Bahrain.

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The Governor of the State Bank of Pakistan, Dr. Ishrat Husain gave a comprehensive outline on the evolution of Islamic Banking in Pakistan. He presented his paper at a seminar on Islamic Banking held recently at the Islamic Chamber of Commerce & Industry building, Karachi sponsored by Meezan Bank Limited.

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Should Islamic financial institutions have the freedom to dabble in derivatives, like their conventional counterparts? According to one view derivatives add value and are justifiable on efficiency grounds. At the same time, the Shariah does not perhaps explicitly forbid such contracts, as these are of recent origin.

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The term "Islamic Investment Fund" in this article means a joint pool wherein the investors contribute their surplus money for the purpose of its investment to earn halal profits in strict conformity with the precepts of Islamic Shariah.

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The 19th century was a century of political oppression where by the powerful Western nations enslaved most of the Asian and African nations including a large number of Muslim countries. The present century, which is nearing its end, has witnessed the gradual independence of these countries from Western imperialism…

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It was a momentous event, as big as the creation of the country itself. On 14 Ramadan 1420, the Shariah Appellate Bench of the Supreme Court of Pakistan gave its landmark decision banning interest in all its forms and by whatever name it may be called…

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The Article provides comprehensive overview of securitization, its types, structures, relevant Shar’iah guidelines and opportunities. The writer emphasizes on Islamic Securitization using popular Shar’iah compliant structures of Musharakah and Ijarah. The article contains live case studies for better understanding of complex terminologies and vital Shar’iah guidelines to be followed...

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Micro finance is the provision of financial services (including but not restricted to microsaving products, small sized loans and microinsurance) to people who do not have access to or are neglected by mainstream commercial banks and financial institutions. The institutions providing micro finance facilities face problems of funding sustainability and economic viability.

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The successful launch of an International Islamic benchmark from the platform of Thomson Reuters as an alternative to LIBOR last year is a significant achievement of Islamic banking industry and would be remembered as a key mile stone in the development of Islamic financial system. IIBR offers a rate that is contributed by and is indigenous to a global panel of Islamic banks and Islamic Banking windows with fully segregated funds.

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Islamic Banking and finance growth has generated considerable interest in the financial world in recent years. The concept of Islamic banking has received encouraging response from different corners of the globe as one discovers its ideological dimensions and practical significance. Given its ability to offer innovative financial solutions for basic financial needs in under-served markets especially in the Muslim worlds to complex financial requirement of the modern times, it is seen as a socially responsible and ethical banking model with considerable growth potential.

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Books

Guide to Islamic Banking

Written by Dr. Imran Usmani
Published by Maktaba Ma'ariful Quran

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Islami Bankari Ka
Ek Ta'aruf

Written by Dr. Imran Usmani
Published by Maktaba Ma'ariful Quran

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Guide to Zakah

Written by Dr. Imran Usmani
Published by Maktaba Ma'ariful Quran

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