The State Bank of Pakistan (SBP) is the central authority responsible for regulating and promoting Islamic finance in Pakistan. SBP has established a comprehensive Shariah-compliant banking framework, prohibited interest (riba) and ensuring all Islamic banking products align with Islamic principles. The bank oversees the adoption of international Shariah standards, supervises Islamic banking institutions, and supports the development of key products such as Musharaka, Mudaraba, Murabaha, and sukuk (Islamic bonds).

SBP’s strategic initiatives, including the multi-year Strategic Plan for Islamic Banking Industry, aim to increase the share of Islamic banking assets and deposits to 30% of the market. The central bank also promotes financial inclusion, capacity building, and public awareness through partnerships with government, industry, and educational institutions. Through these efforts, SBP has positioned Pakistan as a leading Islamic finance market, supporting sustainable growth and financial inclusion nationwide.

Nighat Tanveer
Senior Joint Director at State Bank of Pakistan
nighat.tanveer@sbp.org.pk
+92 30 0211 0515