Dubai Islamic bank willing to help Pakistan float sukuk bonds

[Edevelop]

ISLAMABAD: Dubai Islamic Bank (DIB) on Thursday expressed desire to help promote Islamic banking in Pakistan and was ready to assist in floating the country’s Sukuk bonds, and showed an interest in the upcoming disinvestment process of public sector entities.

This was expressed during a meeting between a DIB delegation and Finance Minister Senator Ishaq Dar in Dubai to discuss various avenues of co-operation between DIB and the Government of Pakistan.

DIB chief executive officer Dr Adnan Chilwan expressed the desire that DIB is keen to work closely with the Government of Pakistan particularly in the promotion of Islamic Banking in the country and was ready to assist in floating of Sukuk Bonds by Pakistan.

Dr Chilwan said that DIB was also eager to participate in the upcoming disinvestment of Public Sector Entities (PSE’s) in Pakistan and was ready to offer its financial and technical support to assist the Government of Pakistan.

Dar said the Pakistan was keen to promote Islamic Banking in the country and a Steering Committee to fast track the work on its promotion had recently been constitued.

The Finance Minister expressed the hope that Pakistan and DIB would work closely to achieve the fundamental objective of promoting Islamic Banking besides increasing cooperation to facilitate trade and investment in Pakistan.

Dubai Islamic bank willing to help Pakistan float sukuk bonds – The Express Tribune

 

[AUz]

Islamic Banking....lol

I never understood how is this banking "better" than conventional banking?

 

[FaujHistorian]

Islamic Banking....lol

I never understood how is this banking "better" than conventional banking?

because you say Bismillah before
and Alhamdolillah after

 

[AUz]

because you say Bismillah before
and Alhamdolillah after

Dubai is aspiring to be the 'center' of global Islamic Banking sector.

Tells you alot, doesn't it?

Centers of global banking systems are cities like Tokoyo (GDP 2 trillion+), New York, and London etc. Massive high-tech, scientifically miraculous, financially giant cities...

And then there is center of 'Islamic banking'----Dubai.

Islamic Banking Sector needs a 15% annual growth rate for next 30 straight years to be even considered a "serious" contender on global level.

But one thing is cool---out of all other religions, only Islam has its own banking system

 

[Thəorətic Muslim]

'Center of Islamic Banking' is actually Malaysia. I wrote a paper on Islamic Banking back in Macro-Econ.

Man old times when you could BS any 'Research Paper' and still get an 'A'.

Lets say you get a loan for $100.000 and pay it back with 5% interest over 10 years. That means you'll end up paying : $127,278.62 total.

Where as in Islamic Banking you go to the Alim and ask for a $100,000 loan. The Alim looks up what the interest rate is and calculates what you'll pay with a conventional loan. Then he adds $X because well its an 'Islamic Loan' and you end up paying $140,000.

Oh did I mention, you have to be a Doctor or Engineer in the US to get this loan?

 

[AUz]

'Center of Islamic Banking' is actually Malaysia. I wrote a paper on Islamic Banking back in Macro-Econ.

Man old times when you could BS any 'Research Paper' and still get an 'A'.

I wrote 'aspiring' to be...

'Center of Islamic Banking' is actually Malaysia. I wrote a paper on Islamic Banking back in Macro-Econ.

Man old times when you could BS any 'Research Paper' and still get an 'A'.

Lets say you get a loan for $100.000 and pay it back with 5% interest over 10 years. That means you'll end up paying : $127,278.62 total.

Where as in Islamic Banking you go to the Alim and ask for a $100,000 loan. The Alim looks up what the interest rate is and calculates what you'll pay with a conventional loan. Then he adds $X because well its an 'Islamic Loan' and you end up paying $140,000.

Oh did I mention, you have to be a Doctor or Engineer in the US to get this loan?

you shitting me.....really?

ALL BANKING SYSTEM SHOULD BE ISLAMIC NOW!!! YALLAH HABIBI