20.11.2012 - SBP seeks transparency in Islamic banking
All the Islamic Banks are advised to maintain transparency in Profit & Loss Distribution and Pool Management in order to improve standardization in Islamic Banking Institutionís (IBIsí) profit and loss distribution policies and practices. The State Bank of Pakistan has issued these instructions to the IBI, which are applicable with immediate effect. Failure to comply with SBP instructions shall invoke penal action under the provisions of Banking Companies Ordinance, conveyed to the Presidents/Chief Executives of all Islamic banks and all conventional banks having Islamic banking branches ...............................................Full Article: Source
Print