Student Number

13675

Degree

Master of Science in Islamic Banking & Finance

Department

Department of Finance

Faculty/ School

Faculty of Business Administration (FBA)

Date of Award

Fall 2019

Advisor

Dr. Qazi Masood, Professor, Department of Economics, Institute of Business Administration

Project Type

MS IBF Thesis

Access Type

Restricted Access

Pages

vi, 24

Abstract

Pakistan is one of the countries where Islamic banking is reaching almost 13% to 14% of the total banking sector, however, there is still huge dissatisfaction with the current Islamic product offerings since the Islamic Financial Institutions have only 5% share of total liquid instruments in the market. This infant banking and financial model has the potential to smoothly run economic and financial matters of the Pakistan’s economy, not only in a Shariah compliant way but also as a best alternate economical system to cope up for the foreseen financial crunch. Globally, we don’t have any proper central bank whose policies are well developed to run Islamic money market operations, catering excess liquidity issues except in Malaysia where several Islamic money market instruments are developed to allow Islamic banks to have access to liquidity management tools. But even there, a distinct Islamic monetary policy has yet to emerge.(Sarker, 2016) This problem of non-existence of unique Islamic financial infrastructure is a main reason of replicating conventional products in Islamic finance. So, this study is carried out for introducing Islamic Monetary as an alternative to Riba and Interest based monetary policies of State Bank, which would definitely help in flourishing the expansion of the Islamic Financial Industry.

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