SBP Islamic Banking Bulletin, July-Sep 2007

The statement declaring weightages profit shar ing

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The statement declaring weightages & Profit shar- ing ratios must at the minimum contain date of declaration, period for which they remain effec- tive, all categories/pools & bank’s equity share and their weighatage, types, sizes, tiers of accounts and actual rates paid during the preceding period. The Statement of weightages & Profit sharing ratios must be prominently displayed in all Islamic Bank- ing Branches. All Islamic Banking Institutions are advised to up- date the weightages & Profit sharing ratios on their websites within 7 days form issuance date of this Circular Letter. Note : All SBP Circulars and Circular letters can be accessed at SBP website at : http://www.sbp.org.pk/ ibd/index.htm Nominations sought for workshop on ‘Capital Adequacy’ and ‘Transparency & Market Discipline SBP is facilitating a workshop from 28th to 30th January 2008 on ‘IFSB Standard on Capital Ade- quacy’ and ‘Transparency & Market Discipline’ w ith co l laborat ion of IFSB Secretar iat . In th is regard Islamic Banking Institutions have been asked to send their nominations for participation
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July-September 2007 AAOIFI Membership The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is an Islamic interna- tional organization that prepares accounting, auditing, governance, ethics and Shari'a standards for Islamic financial institutions and the industry. Membership of the same has been obtained by SBP recently. Call for Papers Through combined effort of SBP & IRTI Call for pa- pers has been made in connection with the upcoming events of IFSB in Pakistan. The papers received from the Researchers and Scholars would be received till 15th December 2007 and would then be reviewed by the Technical Committee comprised of officials nomi- nated by IRTI and SBP. The event would be held in Karachi, Pakistan in November 2008. 19th Shariah Board Meeting 19th Shariah Board Meeting was held on 15th Septem- ber 2007.The Karachi Shipyard and Engineering Works Sukuk was analyzed by the Shariah Board and was duly approved and was accepted within the prin- ciples of Shariah. Second Meeting of SECP-SBP Joint Forum on Islamic Financial Services The second meeting of the Joint forum of State Bank of Pakistan & Securities and Exchange Commission of Pakistan on Islamic Financial Services was held on October 02, 2007 at the Learning Resource Centre, State Bank of Pakistan, Karachi. Various issues were discussed in the meeting and the developments that had taken place since the last meeting of the forum were discussed. Developments at Islamic Banking Department, State Bank of Pakistan
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The statement declaring weightages Profit shar ing ratios...

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