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Presented to

Sir Riaz Ahmed M ian

Presented by Anza Maher & Mariyam Javed

Governor of SBP

Dr. Shamshad Akthar

Primary Objectives of SBP


REGULATION OF LIQUIDITY ENSURING THE SOUNDNESS OF FINANCIAL SYSTEM: REGULATION AND SUPERVISION EXCHANGE RATE MANAGEMENT AND BALANCE OF PAYMENTS DEVELOPMENTAL ROLE OF STATE BANK

Introduction To Islamic Banking


Established on 15th September, 2003. Entrusted with the task of promoting & developing the Shariah Compliant. Emerging field in global financial market, having tremendous potential and growing at a very fast pace all around the world. 6 licensed full fledged Islamic Banks, 12 conventional banks with standalone Islamic Banking Branches with the total branch network of over 336 branches operating in more than 50 cities of all the four provinces and Azad Kashmir in the country as of 17.07.2008

High priority area for State Bank of Pakistan State Bank of Pakistan wants to develop a progressive and sound Islamic banking system that is in line and compatible with the global financial sector, providing innovative Shariah compliant products and services so as to achieve equitable economic growth.

Departmental Objectives
Drive and Implement the Strategic Plan for Islamic banking industry Strengthen the existing regulatory framework for Islamic Banking Industry Strengthen and broaden the scope and functioning of SBP Shariah Board through inclusion of more members and engaging of consultants of international repute Arrangement of IFSB events, particularly Council and Technical Committee meetings, along with the side events in Pakistan in November, 08 Support industry players in development of Shariah-compliant liquidity management instruments Conduct awareness programme within and outside SBP to eliminate the misconceptions and to develop the confidence of the public about Islamic banking

Rules and Regulations of Islamic Banking


Instructions and Guidelines for Shariah compliance Guidelines for Islamic Microfinance Business by Financial Institutions Risk Management Guidelines for Islamic Banking Institutions Guidelines on Islamic Financing for Agriculture Guidelines For Opening Of Stand Alone Branches for Islamic Banking Fit & Proper Criteria for Appointment of Shariah Advisors

Modes of Financing
Murabahah Mudarabah Musharakah Conventional leasing vs. Ijarah

Murabahah (cost plus)


"Murabahah" is a special kind of partnership where one partner gives money to another for investing it in a commercial enterprise. The investment comes from the first partner who is called "Rabb-ul-mal", while the management and work is an exclusive responsibility of the other, who is called "mudarib Concept of Murabahah and investment Murabahah in Banking Sector Support and provision of State Bank of Pakistan

Mudarabah (profit sharing)


Mudarabah is an arrangement or agreement between the bank, or a capital provider, and an entrepreneur, whereby the entrepreneur can mobilize the funds of the former for its business activity. The entrepreneur provides expertise, labor and management. Profits made are shared between the bank and the entrepreneur according to predetermined ratio. Investment and Mudarabah Mudarabah in Banking and formal sector Stance of State Bank and support.

Musharakah (joint venture)


Musharakah is a relationship between two parties or more, of whom contribute capital to a business, and divide the net profit and loss pro rata. This is often used in investment projects, letters of credit, and the purchase or real estate or property. Concept of savings account vs Musharakah Musharakah in relation with Banking Sector Support provided by State Bank

Conventional Leasing v/s Ijarah


Ijarah means lease, rent or wage. Generally, Ijarah concept means selling benefit or use or service for a fixed price or wage Conventional leasing Ijarah Ijarah-wal-Iqtina Banking with regard to Ijarah