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ALHUDA CENTRE OF ISLAMIC BANKING & ECONOMICS

3 rd International Conference & Exhibition. Focus. ALHUDA CENTRE OF ISLAMIC BANKING & ECONOMICS. Islamic Banking & Takaful. Topic . Islamic Banking in Pakistan – A Review. PRESENTATION BY. Event . Prof. Dr. Khawaja Amjad Saeed.

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ALHUDA CENTRE OF ISLAMIC BANKING & ECONOMICS

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  1. 3rd International Conference & Exhibition Focus ALHUDA CENTRE OF ISLAMIC BANKING & ECONOMICS Islamic Banking & Takaful Topic Islamic Banking in Pakistan – A Review PRESENTATION BY Event Prof. Dr. Khawaja Amjad Saeed Founder Principal, Hailey College of Banking & Finance, University of the Punjab, Lahore Pakistan (2003----), Member Governing Council, International Federation of Accountants (IFAC), New York (1997-2000), President, South Asian Federation of Accountants (SAFA) (1997), President, Institute of Cost and Management Accountants of Pakistan (1997-2000), President, Association of Management Development Institutions of South Asia (AMDISA) (1993-96), Pro Vice-Chancellor University of the Punjab, Lahore (1994-1996), Founder Director, Institute of Business Administration (IBA), University of the Punjab, Lahore (1973-1996). Venue & Date Islamabad, November 02, 2009

  2. WELCOME TO OUR PROGRAM • Vision and Mission for Central Bank and its Islamic Banking Department • Strategy for Islamic Banking in Pakistan • Historical Rundown • Quantitative Analysis • Future Outlook PRESENTATION FRAME

  3. SOURCES: • State Bank of Pakistan Annual Report 2008-09, Karachi: SBP, P. 42. • Frequently Asked Questions (FAQs) on Islamic Banking, Karachi: SBP-Islamic Banking Department, February 23, 2009, PP 1-35. • Pakistan’s Islamic Banking Review: 2003-2007, Karachi, SBP: Islamic Banking Department, PP1-77. • Strategic Plan for Islamic Banking Industry of Pakistan, SBP: Islamic Banking Department, N.D, PP 1-57. • Risk Management Guidelines for Islamic Banking Institutions, Karachi, SBP-Islamic Banking Department, January 02, 2008, PP 1-19. • Islamic Banking Bulletin: Karachi: SBPL Islamic Banking Department, June 2008. • Islamic Finance: Opportunities and Challenges Karachi, SBP: A Collection of Speeches by Governor SBP from 2006-2008 PP 1-37.

  4. A: PAKISTAN: VISION & MISSIONFOR CENTRAL BANK AND ITS ISLAMIC BANKING DEPARTMENT

  5. A: PAKISTAN: VISION & MISSIONFOR CENTRAL BANK AND ITS ISLAMIC BANKING DEPARTMENT

  6. B: PAKISTAN SBP STRATEGY FOR ISLAMIC BANKING THREE PRONGED * Full fledged Islamic Banks in Pakistan Sector * Conventional Banks to set up (a) Islamic Banking subsidiaries (b) Stand alone Islamic Banking Branches

  7. C: PAKISTAN ISLAMIC BANKING HISTORICAL RUNDOWN 1. PAKISTAN Created out of Islamic Ideology 2. QUAID-E-AZAM Inaugural Speech of SBP of July 01, 1948 3. CONSTITUTION OF PAKISTAN Article 38 (f) “The state shall-----eliminate riba as early as possible”. 4. Inretrospect 1970s: - Efforts started to eliminate riba. 1980s: - Bold and comprehensive initiative. - Pakistan among three countries in the world for interest free banking.

  8. C: PAKISTAN ISLAMIC BANKING: HISTORICAL RUNDOWN 4. Inretrospect 1980s: - Review of Laws - SBP Act - Companies Ordinance 1984 - Recovery Laws - Negotiable Instrument Act - June 26, 1980: PTC-New Interest free instrument of corporate financing - NIB-12 modes - January 01, 1981, separate interest free counters - July 01, 1982-Musharaka for working capital needs of trade & industry - April 01, 1985-profit & loss sharing basis.

  9. C: PAKISTAN ISLAMIC BANKING HISTORICAL RUNDOWN 4. Inretrospect 1990s: - Federal Shariat Court: November 1991 - December 23, 1991 “Laws involving interest would cease to have effect finally by June 30, 2001” 2000s - January 2000, Commission for Transformation of Financial System constituted in SBP - Task force set up to suggest ways to eliminate interest from govt financial transactions - Conclusion-Parallel Banking system

  10. D: QUANTITATIVE ANALYSIS 1. Islamic Banking-Year wise entry 2. Islamic Banking Industry Progress 3. Islamic Banking Industry Progress - Selected Indicators 4. Trends in Islamic Banking

  11. D1: PAKISTAN: ISLAMIC BANKING: YEAR WISE ENTRY

  12. D2: PAKISTAN: ISLAMIC BANKING INDUSTRY PROGRESS D E C E M B E R NUMBER

  13. D3: PAKISTAN: ISLAMIC BANKING INDUSTRY PROGRESS: SELECTED INDICATORS DECEMBER GROWTH PERCENTAGE

  14. D4: PAKISTAN: TRENDS IN ISLAMIC BANKING BILLION RUPEES Source: Edited from: SBP Report 2008-09, P. 43.

  15. E: PAKISTAN: ISLAMIC BANKING: FUTURE OUTLOOK 1. Forecast • 2012 • Total Assets of Islamic Banking Industry: Rs. 1Trillion • 1200 branches in 5 years • Deposits: Rs. 1 Trillion • 12% share of total banking industry 2. Challenge/Opportunities • 15,000 people needed in next 5 years • Shariah compliant financial services • Increased interest from GCC investors • SME, micro finance, agriculture • Demonstrate growth with profitability • Differenciated products

  16. THANK YOU FOR ATTENTIVE LISTENING ASK ANY QUESTIONS

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