Rise of Islamic banking in Pakistan is stunning
Shares
ISLAMABAD - Islamic finance globally is worth USD 2 trillion. The first Islamic Bank in Pakistan was launched in 2002 and currently there are five full-fledged Islamic Banks with 16 conventional banks with Islamic Branches and Windows.
Pakistan, which has traditionally maintained very modest FDR ratios below 50% has experienced an improvement in its Islamic banking sector FDR to approximately 58% as of first half of 2017.
The Total Islamic Banking Network has reached Rs. 3,969 billion with Total Deposits of Rs. 2,033 billion and Asset Portfolio at Rs. 2,482 billion.
Islamic Banking share of overall Pakistani Banking Industry is 12.90% of Total Assets and 14.80% of Total Deposits. Islamic Banking globally has witnessed 18% growth rate in the last four years.
