ISLAMABAD – Islamic finance globally is worth USD 2 trillion. The firstIslamic Bank in Pakistan was launched in 2002 and currently there are fivefull-fledged Islamic Banks with 16 conventional banks with Islamic Branchesand Windows.
Pakistan, which has traditionally maintained very modest FDR ratios below50% has experienced an improvement in its Islamic banking sector FDR toapproximately 58% as of first half of 2017.
The Total Islamic Banking Network has reached Rs. 3,969 billion with TotalDeposits of Rs. 2,033 billion and Asset Portfolio at Rs. 2,482 billion.
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Islamic Banking share of overall Pakistani Banking Industry is 12.90% ofTotal Assets and 14.80% of Total Deposits. Islamic Banking globally haswitnessed 18% growth rate in the last four years.
