Islamic banking in Pak attracts foreign investments
Foreign investors are showing increasing interest in Pakistan’s Islamic banking, with direct investments exceeding Rs 2,000 crore.
By PTI |
ISLAMABAD: Foreign investors are showing increasing interest in Pakistan’s Islamic banking, with direct investments exceeding Rs 2,000 crore, a news report has said.
Direct investments in Pakistans Islamic banking industry has exceeded Rs 2,000 crore as of September 2007, said Ashar M Nazim, CEO of Islamic Capital Partners.
He said Arab investors from the Middle East have lined up an additional Rs 3,500 crore to be invested in Pakistans banking and industrial sector through Sharia-compliant financing over the next 6-8 months.
Nazim said there is increased interest from foreign investors in Pakistans banking sector, as well as in the industrial sector through Sharia compliant financing.
The prominent Sharia compliant investors that have expressed their interest include Dubai Bank, Qatar Islamic Bank, Qatar International Islamic Bank, Saudi Economic and Development Company, National Bank of Dubai, Rayyan Bank, Ithmar and Al Noor amongst others.
Nazim said that there was some uncertainty among investors who are waiting for the political scene to become more clear after the conclusion of controversial presidential poll process in which President Pervez Musharraf is seeking another term in office.
Many of the major investors will be visiting Pakistan in November to assess the ground realities in Pakistan, Nazim observed.
A key 'Investors Forum' is planned in Karachi during the '3rd World Asia Islamic Banking Conference' that seeks to bring together policymakers, bankers, corporates, Sharia scholars and professionals to discuss the Islamic capital industry and challenges for future growth, the Daily Times newspaper reported today.
Direct investments in Pakistans Islamic banking industry has exceeded Rs 2,000 crore as of September 2007, said Ashar M Nazim, CEO of Islamic Capital Partners.
He said Arab investors from the Middle East have lined up an additional Rs 3,500 crore to be invested in Pakistans banking and industrial sector through Sharia-compliant financing over the next 6-8 months.
Nazim said there is increased interest from foreign investors in Pakistans banking sector, as well as in the industrial sector through Sharia compliant financing.
The prominent Sharia compliant investors that have expressed their interest include Dubai Bank, Qatar Islamic Bank, Qatar International Islamic Bank, Saudi Economic and Development Company, National Bank of Dubai, Rayyan Bank, Ithmar and Al Noor amongst others.
Nazim said that there was some uncertainty among investors who are waiting for the political scene to become more clear after the conclusion of controversial presidential poll process in which President Pervez Musharraf is seeking another term in office.
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Many of the major investors will be visiting Pakistan in November to assess the ground realities in Pakistan, Nazim observed.
A key 'Investors Forum' is planned in Karachi during the '3rd World Asia Islamic Banking Conference' that seeks to bring together policymakers, bankers, corporates, Sharia scholars and professionals to discuss the Islamic capital industry and challenges for future growth, the Daily Times newspaper reported today.
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