The islamic banking revival appears as Pakistan Islamic banking growth reaches 27.87 pc

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pakistan islamic banking growth

A registered growth of 27.87 pc from Rs 1.3 trillion in 2014 to Rs 1.61 trillion was seen this year in the Islamic Banking Sector for the country as the Economic Survey 2015-16 reports released on Thursday by Finance Minister Ishaq Dar revealed deposits of IBI for Rs 1.4 trillion in 2015 with a growth of 28.5 percent in comparison to last year’s Rs 1.1 trillion.

According to the calendar year of 2010 the share of Islamic banking assets in the overall banking system till the 2015 calendar year has shown growths of 11.4 percent as Islamic banking shares also grew from 7.2 pc to 13.2 pc during the same period. The net investment for IBI by December 2015’s end came to Rs 431.9 billion from September 2015’s Rs 392.4 billion, thus showing a 10.1 pc growth.

Most of this growth was through the federal government’s investment as the security grew by 16.7 pc because of the Government of Punjab’s Ijara Sukuk Scheme issued in December 2015 for Rs 117.7 billion.

Other fully paid shares, investments and bonds, PTCs, sukuk certificates also showcased a growth of 6.2 and 9.2 pc respectively. On the other hand finance and other related assets of IBI also showed a growth of 21.1 through Rs 645.3 billion from October to December 2015.

The Return on Equity (ROE) and Return on Assets (ROA) also raised 3.5 and 0.3 pc during 2015’s 4th quarter respectively in comparison while all financing modes except for Murabaha and Ijara also showed growth in their sectors.

The collective contribution of Murabaha and Musharaka at IBI’s overall finance was 56.2 pc but yet both of these decreased over the time due to higher growth in other modes like Salam and Istisna as well.

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