Pakistan develops five-year Islamic finance plan


The deputy governor of the State Bank of Pakistan, Kazi Abdul Muktadir, on September 5 said the central bank is developing a five-year strategic plan for the Islamic finance industry, due to be implemented in 2013.

Speaking at the Islamic Finance News Roadshow in Karachi, he said the Islamic finance industry is worth $1.35 trillion, and has an annual growth rate of more than 20%. Interest in Islamic finance has resulted in the development of Islamic capital markets, mutual funds and takaful comp

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