Strategic Arrange for Islamic Financial Industry of Pakistan Stand of Items Acronyms....... Article

STRATEGIC PLAN FOR ISLAMIC BANKING INDUSTRY OF PAKISTAN Table of Contents ACRONYMS................................................................................................................................................... III FOREWORD:.................................................................................................................................................. IV GOVERNOR'S MESSAGE.................................................................................................................................. V EXECUTIVE OVERVIEW................................................................................................................................... 1 HISTORY OF ISLAMIC FINANCIAL IN PAKISTAN:............................................................................................... 3 CURRENT STATUS OF ISLAMIC BANKING INDUSTRY IN PAKISTAN:................................................................ a few VISION, QUEST & PRINCIPLES.......................................................................................................................... 8 OBJECTIVES:................................................................................................................................................... 8 APPROACH...................................................................................................................................................... 9 FIVE PILLARS OF ISLAMIC BANKING STRATEGY:........................................................................................... 10 1 . EXTENSION OF OUTREACH.............................................................................................................. 10 A. CURRENT POSITION OF OUTREACH:.................................................................................................. 10 N. EXISTING FINANCIAL SEGMENTS....................................................................................................... doze C. ADMITTANCE INTO FRESH SEGMENTS OF MICRO FINANCING, AGRICULTURE FINANCIAL AND SME FINANCE.. 13 2 . SHARIAH COMPLIANCE DEVICE............................................................................................. 15 A. Shariah Plank.................................................................................................................................... 16 B. Shariah Experts:............................................................................................................................... 17 C. Shariah Complying Inspection:...................................................................................................... 18 3. STRENGTHENING OF REGULATORY FRAMEWORK:......................................................................... 18 A. ‘Instructions and Guidelines for Shariah compliance':.................................................................. 19 B. Issuance of Guidelines for Microfinance/ Agricultural Auto financing:............................................... 19 C. Rolling away International Standards (IFSB & AAOIFI):................................................................. twenty D. Expanding Specific Ranking Standards intended for Islamic Banking:......................................................... 21 some. CAPACITY BUILDING...................................................................................................................... 22 5. INTERNAL AND EXTERNAL RELATIONSHIPS........................................................................................... 24 A. Interaction with internal stakeholders:........................................................................................... 24 i actually. ii. iii. Common Forum for Shariah Compliance:....................................................................................................... twenty-five Close Skill in Plan Formulation and Regulations:......................................................................... 25 Provision of Level Playing Field...

Financial Supervision, Answers Composition