[dropcap]I[/dropcap]f one reviews Pakistan’s economy, the development seems lopsided. The successive governments have experimented with different models from private sector leading the economy to nationalization of the strategic industries to liberalization, deregulation and privatization. The GDP growth rate has varied significantly. It may be said that policy planners have failed in coming up with ‘home grown plan’. This failure can be attributed to persistent dependency on multilateral financial institutions and worst of all remaining under the clutches of the International Monetary Fund (IMF). While the critics blame the IMF, they also fail to realize that nothing comes free in this…
Author: Shabbir Kazmi
POLITICAL ANARCHY LIKELY TO HIT INVESTORS’ CONFIDENCE The week ended on 22nd June 2017 remained highly volatile due to political uncertantity eminating from Panama Papers case hearing. The benchmark index of Pakistan Stock Exchange (PSX) touched a low of 44,914 on Tuesday, but finally managed to close the week at 46,332, posting a nominal decline of 1.1%WoW. The news flows impacting the market included: 1) net foreign direct investment exceeding US$2 billion during the 11MFY17, China emerging the top investor with US$878 million, 2) textile and clothing exports declined to US$11.23 billion during first eleven months of the current financial…
[dropcap]M[/dropcap]ost of the people working within the corporate sector in Pakistan are aware of the term CSR that stands for Corporate Social Responsibility. However, they have different connotations, perform it as a commitment to the society where they live and do business. The others may consider it an obligation imposed by the government. Therefore, the acts/actions differ, the first group takes pride in undertaking various initiatives and associate their company name/brand with the services they deliver for the society. They turn CSR into an opportunity for CSV – creating shared value. They create a mindset that generates value for society,…
[dropcap]E[/dropcap]very civilized society takes care of education, healthcare, transportation and infrastructure development. To meet the expenses it collects taxes from those who have money. Pakistan can’t be an exception. Being a Muslim majority country, it also collects money under two other heads i.e. Zakat and Usher. While some record of tax payers and amounts collected and spent is available, details about funds collected under Zakat and Usher are scanty. Even lesser details are available about how the funds collected under these two heads are being spent. During Ziaul Haq regime, the law was passed about mandatory Zakat deduction (once every…
SUSTAINABLE RECOVERY UNLIKELY AMID LACK OF TRIGGERS, VOLATILITY Pakistan Stock Exchange (PSE) witnessed volatility throughout the week ended 16th June 2017. Its benchmark index posted a decline of 5.4%WoW, wiping out gains made a week ago. Daily trading volume rose by 6.73%WoW to 255.5 million shares. The most remarkable news of the week was passing of FY18 budget by the National Assembly in the absence of opposition, which decided to walk out. The key news of the week impacting the stock marker were: 1) PSX completed the book-building process related to its 20% stake in an overextended 5‐day period at…
The Three Centres of Excellence in IBA, in alliance with top Malaysian institutes, provide research, training and development in Islamic Finance [dropcap]T[/dropcap]he Islamic banking era that started with the commencement of operations by a full-service Islamic bank, Meezan Bank Limited in Pakistan has posted robust growth during the first decade. However, subsequently its growth pace slowed down due to a number of impediments, worst being banks suffering from excessive liquidity. This issue emerged mainly because Islamic banks are not allowed to invest in government securities. Bulk of the investment of conventional banks is in interest bearing Treasury Bills and Pakistan…
Saadiq is our success, will keep expanding our services legacy through new and digital capability Interview with Mr. Shehzad Khokar – Head, Islamic and Personal Banking, Retail Banking PAGE: PLEASE TELL US ABOUT YOURSELF. SHEHZAD KHOKAR: I have been with Standard Chartered Bank since 2007 in several roles including Islamic Retail Products, Islamic SME Banking, Marketing, Consumer Banking Strategy & Service Quality. I have been in Islamic Banking for the last 7 years and have managed Islamic deposits, cards, secured financing and SME banking. I have been heading the Islamic retail business since 2015. Prior to joining Standard Chartered I…