“Our banking sector is highly regulated and domestic banks are better equipped to handle systemic risks like the ‘subprime’ crisis, which occurred in 2008,” affirms Mahen Sookun, Chairman of the Board of MauBank, in an interview with Défi Quotidien. Following the subprime crisis, our regulator adopted more rigorous international banking standards, such as the Basel III agreements, which aim to enhance the resilience of banks to financial crisis. These regulations impose higher standards with stringent requirements in terms of capitalization, liquidity, and risk management. Read the full article here: https://lnkd.in/eWaHBAAi MauBank is an entity regulated by the BoM and FSC.
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Zafar Masud, Chairman - PBA, shares insight into the banking sector's view on the State Bank of Pakistan (SBP)’s target to achieve a full transition to Shariah-Compliant operations by 2027. Mr. Masud, however, emphasised that this transition needs a fundamental shift and necessitates a thorough reevaluation of governance structures, operational frameworks and risk management practices. He reiterated that a collective effort from all the stakeholders including the government, regulator, financial institutions, scholars and customers will determine the success of this transition, allowing the industry to build a more inclusive, ethical and a resilient banking sector in Pakistan. Yousaf Hussain| Ahmed Bozai| Shoaib Mumtaz| Rehmat Hasnie| Muhammad Atif Hanif| Rizwan Ata
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Central Banker with 10+ Years of Experience | Driving Innovation in Fintech & Data | Economy Insights | LUMS Alum
As of Jun-24, 23% of total bank deposits in Pakistan amounting to PKR 32.43 trillion are held by Islamic Banks or Islamic Branches of conventional banks. The pace with which Islamic Banking is gaining traction in Pakistan is unprecedented. Fueled by the public sentiments and initiatives of State Bank of Pakistan (SBP), the industry is projected to grow at a far greater pace than ever before in the next three years. I have planned to write a brief one pager summary of recent Sharia Governance Framework formulated by State Bank of Pakistan and will be sharing on LinkedIn.
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*OMO Result: SBP injects Rs4.09tr* The State Bank of Pakistan (SBP) conducted a reverse repo and Shariah Compliant Modarabah based Open Market Operation (OMO) today, in which it cumulatively injected a total of Rs4.09 trillion into the market. Of which Rs4.07tr were injected through reverse repo OMO. Read the full story at https://lnkd.in/dN4EDFCg
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