SBP launches Islamic facility to fund renewables and SMEs

Wind turbines

The State Bank of Pakistan has launched a new Sharia-compliant liquidity facility to support banks in lending to small businesses, renewable energy and agriculture projects.

The SBP said it was unveiling the three new facilities in a bid to level the playing field with the standard banking industry, which already benefits from similar facilities designed to channel funds into “priority sectors”.

The facilities are structured as mudarabah, a profit-sharing scheme that complies with Islamic

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