Current Affairs

Robust Growth in Pakistan’s Islamic Assets is Credit Positive for Banks

International credit rating agency Moody’s has termed the impressive growth in Pakistan’s Islamic banking assets as credit positive for banks.

On Wednesday, the State Bank of Pakistan (SBP), released its quarterly Islamic Banking Bulletin for December 2020, which showed that Shariah-compliant banking assets grew 30 percent in 2020.

Pakistan’s Islamic banking assets grew to Rs 4.3 trillion as of year-end 2020, comprising 17pc of total banking system assets. Meanwhile, Islamic deposits have had witnessed a 22pc annual compound growth rate since June 2013.

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