PAKISTAN: The Shariah compliant investment landscape in Pakistan is set to change as Islamic banking outfits need to distribute profit on their saving deposits equivalent to at least 75% of the weighted average gross yield of all pools.
The State Bank of Pakistan is also removing the shelter of minimum deposit rate for institutional savings – lifting a key restriction on conventional financial operations that had fostered the growth of Islamic banks among corporate clients. These regulatory changes by the central bank take effect from the 1st January 2025.
