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MGT604 - Management of Financial Institutions - Lecture Handout 08

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STATE BANK OF PAKISTAN - VARIOUS DEPARTMENTS (Contd.)

Islamic Banking Department

  • Islamic Banking Department was established on 15th September, 2003 and has been entrusted with the huge task of promoting & developing the Shariah Compliant Islamic Banking as a parallel and compatible banking system in the country.
  • State Bank of Pakistan wants to develop a progressive and sound Islamic banking system that is in line and compatible with the global financial sector, providing innovative Shariah compliant products and services so as to achieve equitable economic growth.
  • One of the biggest challenges being faced by this growing industry is the dearth of professional Islamic Bankers and capacity building in this regard is one of the top most priorities for the promotion of Islamic Banking.
  • In order to play our regulatory and supervisory role more efficiently we are working on the areas like Risk Management, Corporate Governance, Prudential Regulations, Accounting & Shariah Standards etc. regarding Islamic Banking

Islamic Banking Department consists of following four divisions:

  • Policy Division
  • Shariah Compliance Division
  • Business Support Division
  • Shariah Board Secretariat

Islamic Banking is one of the emerging field in global financial market, having tremendous potential and growing at a very fast pace all around the world.

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MGT604 - Management of Financial Institutions - Lecture Handout 07

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STATE BANK OF PAKISTAN - VARIOUS DEPARTMENTS

Agricultural Credit Department

Established under Section 8(3) of SBP Act 1956, is mainly responsible to meet credit needs of agriculture that being the mainstay of Pakistan’s economy generates nearly one fourth of the total out put and 44% of total employment and is the major source of foreign exchange earning.

  • To operate as a focal point in SBP for all agriculture and rural finance policies, programs and projects.
  • To assess/estimate the credit needs of farm & non farm sector in rural areas.
    To review the issues and challenges faced and developments taking place in agriculture and rural finance both in the country and elsewhere to develop an adequate knowledge and information base for policy formulation etc
  • To formulate agri & rural finance policies in consultation with stakeholders to ensure adequate flow of institutional credit in rural areas.
  • To monitor growth and trends in agri /rural finance portfolio of banks & financial institutions.
  • To collect periodical agri/rural finance data for analysis, policy formulation and dissemination to general public.
  • To advise Federal and Provincial Governments, Banks, Cooperative Banks & agriculture chambers on agri & rural finance issues.
  • To initiate and undertake information dissemination and awareness building programs for farmers and special training programs for commercial banks.
  • To build SBP rural and agriculture finance capacity
  • To operate as a Secretariat for Agriculture Credit Advisory Committee (ACAC)

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