Karachi: Government of Pakistan has provided Islamic long-term financing facility (ILTFF) based on hazards, to provide alternatives to the traditional long term financing facility (LTFF) law to meet the long-term demand of exporters. ) Is released. State Bank has provided long-term re-finance facility for plant and machinery through commercial banks and development institutions to provide the opportunity to import and locate discounted funds for the imported and locally developed and exported exporters from 2008. However, It did not exist any harmony with Sharia, so this facility could not be achieved through Islamic banking institutions.
Importers from IELTF imported and planted locally developed from Islamic banking institutions And State Bank’s long-term refinancing facility for purchasing machinery Will have the opportunity to. This facility will be available for export projects, if their annual exports are at least $ 50 million or at least fifty percent of the total sales, whichever is less. Under the ITTTF, the duration of the financing will not exceed ten years, which includes the maximum duration of two years and the maximum limit of 1.5 billion rupees for the funding of this facility. Prior to the approval of this facility, the co-Islamic banking institutions will examine the necessary exams according to their financing policy, and this will be subject to the State Bank’s fixed regulatory regulations for all types of customers, Islamic Banking Institutional Department of State Bank You can join the scheme by applying it. Under the Scheme, Islamic banking branches of traditional banks can also apply to the State Bank to limit the limit if it is not more than 20% of the LTFF limit for use under ITLFF.
There is another proof of the State Bank’s commitment to promote Islamic banking in the country and to strengthen it on a strong basis. Due to the constant efforts of State Bank and relevant stakeholders, the share of the Islamic banking industry in the banking sector assets and deposits increased by 12.4 percent and 14.5% respectively till December 2017, deposits of Islamic banking industry for the last ten years. More than a year’s mixture is growing from the annual growth rate, 16 traditional banks with five full Islamic banking and Islamic banking branches spread across the country spread across 2581 branches across the country and provide compatible products and services with Sharia.