Islamic Finance

Lackluster performance of Islamic Money Market Fund in Sept 11 KARACHI: Islamic Money Market Funds and Islamic Cash Funds performed lackluster in the month of September, 2011 as the net assets of the category decreased by 9.83 percent Month-on-Month (MoM) to Rs 6,892.176 million. The previous month, recorded a surge in net asset by 9.15 percent MoM to Rs 7,643.277 million.

BankIslami profits spike during 3QCY11-12 KARACHI: BankIslami Pakistan Limited (BIPL) witnessed outstanding performance during the third quarter of calendar year 2011-12 (3QCY11-12), said the result reported on Karachi Stock Exchange (KSE) website on Friday.

KMI Weekly: Index lost 984.69pts KARACHI: The Halal stocks KMI-30 share index went down by 984.69 points or 4.39 percent during the last week. KMI-30 Index closed at the level of 21,436.77 points as compared to the last week's closing level of 22,421.46 points.

Higher expenses trim GSK profits KARACHI: GlaxoSmithKline Pakistan Limited (GSK) net profits during the third quarter of calendar year 2011-2012 (3QCY11-12) trimmed by 13.54 percent year on year (YoY) to Rs 236.454 million.

Shariah Finance: An Alternative In The Making Dhafer Salih Alqahtani, Principal, Rusmal Consult Manama, Bahrain While clinging to its present marginal position in the mainstream of global financial markets, Islamic banking and Islamic finance has a long way to go to transform itself into a major player, mainly through standardization, uniformity, governance, transparency and innovation, in addition to consolidation.

Cotton rate eases on persistent phutti arrivals KARACHI: Strong phutti arrivals on Wednesday have forced ginners and they indulged in panic selling which pushed cotton prices down, dealers said.

Foreign Selling may pressurize KMI today KARACHI: Result season is going to bring interest in refinery, exploration, banking and fertilizer stocks. Blue chips results might bring a positive momentum in the market. High dividend yielding stocks will remain in limelight. Market is expected to be range bound today as foreign institutional selling make investors cautious.