Pakistan's broad money (M2) grew by 15.89 percent

Pakistan's broad money (M2) grew by 15.89 percent

KARACHI: Pakistan's broad money (M2) grew by 15.89 percent year on year (YoY) to Rs 917.961 billion during FY11 as against 12.46 percent YoY to Rs 640.015 billion in FY10, State Bank of Pakistan (SBP) provisional data revealed.

Comments

Post a Comment

Popular posts from this blog

Harmonization of standards: Biggest challenge faced by Islamic Finance

Image
By Riffat Mughal KARACHI: Deutsche Bank Global Markets Research report on Islamic Finance has pointed out certain challenges and risks is being faced by Islamic finance industry. According to the report, one of the biggest challenges global Islamic finance industry is facing is Harmonization of standards, which indicates the fact that not every Islamic product is acceptable in certain countries. The different interpretations of Shariah compliancy are attributed to scholastic differences within Islam. All the five teachings --- Shafi, Shia, Hanafi, Hanbali and Maliki --- have subtle differences. The Malaysian system is generally seen to be less strict (or more progressive) than in the Gulf. The divergence of opinion between the Gulf States, Saudi Arabia and Malaysia is narrowing. In Malaysia, scholars prioritize on form over substance when deciding whether a particular product is Shariah-compliant or not, but GCC scholars contend that Shariah compliance lies in the intent ...
Read more