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SBP Islamic Banking Bulletin, July-Sep 2007

Developments at islamic banking department state bank

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Developments at Islamic Banking Department, State Bank of Pakistan Page 12 Islamic Banking Branch Network As of December 31, 2007 Sr. No. Name of Bank Branches Full Fledge Islamic Banks 1 Meezan Bank Ltd 100 2 AlBarka Islamic Bank BSC (EC) 18 3 Dubai Islamic Bank Pakistan Limited 17 4 BankIslami Pakistan Limited 36 5 Emirates Global Islamic Bank Limited 10 6 Dawood Islamic Bank Limited 5 Sub Total 186 Standalone Islamic Banking Branches 7 Bank Alfalah Ltd 32 8 MCB Bank Ltd 8 9 Bank of Khyber 17 10 Habib Metropolitan Bank 4 11 Habib Bank Ltd 1 12 Standard Chartered Bank 8 13 Bank Al Habib 4 14 Soneri Bank Ltd 4 15 Askari Bank Limited 14 16 National Bank of Paki- stan 3 17 United Bank Ltd 5 18 *ABN Amro Bank N.V. 3 Sub Total 103 Grand Total 289 * Prime Commercial Bank Limited merged with ABN Amro on September 01, 2007 From Hazrat Abu Hurayrah (RA): The Prophet Muhammad, peace be on him, said: "Riba has seventy segments, the least serious being equivalent to a man committing adultery with his own mother.“ (Ibn Majah) Extract from last Sermon of Prophet Muhammad (pbuh) on Hajjatul Wida in the 10th year of Hijrah “….Allah has forbidden you to take Riba, therefore all Riba obligations shall henceforth be waived. Your capi- tal, however is yours to keep. You will neither inflict nor suffer any injustice….”
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July-September 2007 Page 13 S.No City No of Branches 25 Mirpur AJK 2 26 Mirpur Khas 1 29 Multan 11 30 Muslim Bagh 1 31 Nawabshah 2 32 Nowshera 1 33 Okara 1 34 Peshawar 15 35 Pishin 1 36 Qilla Saifullah 1 37 Quetta 7 38 Rahim Yar Khan 3 39 Rawalpindi 14 40 Sadiqabad 1 41 Sahiwal 1 42 Sargodha 1 43 Sheikhupuar 1 44 Sialkot 4 45 Sukkur 2 46 Tando Allahyar 2 47 Tank 1 Grand Total 289 S.No City No of Branches 1 Abottabad 3 2 Bahawalpur 1 3 Banu 1 4 Batkhela 1 5 Chaman 1 6 Charsadda 1 7 Dera Ghazi Khan 1 8 Dera Ismail Khan 2 9 Faisalabad 15 10 Gujar Khan 1 11 Gujranwala 7 12 Gujrat 2 13 Hangu 1 14 Hyderabad 5 15 Islamabad 14 16 Karachi City 92 17 Kasur 1 18 Kohat 1 19 Lahore City 58 20 Larkana 1 21 Mandi Bahauddin 1 22 Mansehra 2 23 Mardan 1 24 Mingora 1 City-wise breakup of Islamic Banking Branches As of December 31, 2007
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July-September 2007 Islamic banks asked to declare profit- sharing ratios (The News/ Business Recorder/ December 01, 2007) The State Bank of Pakistan (SBP) directed all Islamic banking institutions (IBIs) to update weightages and profit-sharing ratios on their websites by December 6, 2007. Banks use weightages and profit-sharing ratios to calculate distribution of profit as per Shariah laws cov- ering IBIs. The SBP observed that only a few IBIs were regularly updating their weightages and profit-sharing ratios on the websites, before the beginning of the pe- riod concerned, which the central bank termed a disap- pointing situation. Taking a strict notice of this slack- ness on the part of IBIs, the SBP directed IBIs to make sure that relevant weightages and ratios are updated before start of the period concerned. SBP said that weightages & profit sharing ratios must be
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