Thousands of Pakistani households are turning to microfinance institutions which provide loans based on Islamic law, or Sharia. The following video courtesy of the Wall Street Journal looks at micro financing solutions in Pakistan. »

In contrast to the current challenges of the conventional debt market, Pakistan was able to achieve a better reception for its Sukuk issued in November 2014. The 5 years issuance for $1bn was upped from an initial target of $500 million. The sukuk was five times oversubscribed with offers of 2.3 billion. »

The decision to tap the conventional market over sukuk is somewhat surprising given that Pakistan previously tapped the sukuk market in November 2014 with a $1 billion 5 year issuance, a transaction which was five times oversubscribed with offers of $2.3 billion against initial size of $500M which was upped to $1 billion. Such demand allowed the Government of Pakistan to close the transaction offe... »

The Sindh government is looking to issue a dollar denominated sukuk for up to $200 million. The planned issuance was announced by Sindh Minister for Finance, Syed Murad Ali Shah who stated the sukuk would provide much-needed liquidity for development and infrastructure projects in the province. »

Key points of EY Report 2014-2015, Focus on market penetration of Islamic Banks. »

Often overlooked within Islamic finance is the establishment of national interest free banking systems in Iran and Sudan as well as in Pakistan. »