{"id":68691,"date":"2020-08-01T10:00:00","date_gmt":"2020-08-01T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=68691"},"modified":"2020-07-29T18:07:13","modified_gmt":"2020-07-29T13:07:13","slug":"sbp-allows-banks-expand-islamic-banking-window-operations","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html","title":{"rendered":"SBP allows banks to expand Islamic Banking Window operations"},"content":{"rendered":"\n<p>Lahore: The State Bank of Pakistan (SBP) on Wednesday allowed banks to expand the operations of their Islamic Banking Window facilities, a news source reported. To this effect, it has given its green signal to banks to allow these windows to provide all types of financing products to customers.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/sbp-refinancing-scheme-banks-approve-pkr-125-9-bn-prevent-layoffs.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP Refinancing Scheme: Banks approve PKR 125.9 bn to prevent layoffs<\/a><\/p>\n\n\n\n<p>As per new instructions, the Islamic Banking Windows (IBWs) would now offer financing products pertaining to corporations, SMEs, housing, agriculture, and consumers. Previously, conventional banks had the permission to open these dedicated counters but these could not offer financing products.<\/p>\n\n\n\n<p>SBP has provided the new facility subject to the condition that the respective IBW becomes a full-fledged Islamic banking branch within three years. In this regard, the banks that already have these windows must submit their IBW policy to the central bank within three months of this notification. Meanwhile, those banks desiring to operate IBWs must prepare a policy and get it approved from their Shariah Board and Board of Directors before submitting to the SBP.<\/p>\n\n\n\n<p>SBPs revised instructions also include several amendments or additions to existing regulations and policy formulation on IBWs, submission of annual expansion plan, display requirements and physical setup, opening and closure of the windows, fee structure, and revisions in reporting requirements.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/commercial-banks-ordered-to-utilise-5-portfolio-for-housing-finance.html\" target=\"_blank\" rel=\"noreferrer noopener\">Commercial banks ordered to utilise 5% portfolio for housing finance<\/a><\/p>\n\n\n\n<p>SBP officials opined that this facility would allow more financial inclusion by providing Shariah-compliant financing products to a vast majority of the country\u2019s population.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The State Bank of Pakistan (SBP) on Wednesday allowed banks to expand the operations of their Islamic Banking Window facilities, a news source reported. To this effect, it has given its green signal to banks to allow these windows to provide all types of financing products to customers. Read: SBP Refinancing Scheme: Banks approve PKR 125.9 bn to prevent layoffs As per new instructions, the Islamic Banking Windows (IBWs) would now offer financing products pertaining to corporations, SMEs, housing, agriculture, and consumers. Previously, conventional banks had the permission to open these dedicated counters but these could not offer financing products. SBP has provided the new facility subject to the condition that the respective IBW becomes a full-fledged Islamic banking branch within three years. In this regard, the banks that already have these windows must submit their IBW policy to the central bank within three months of this notification. Meanwhile, those banks desiring to operate IBWs must prepare a policy and get it approved from their Shariah Board and Board of Directors before submitting to the SBP. SBPs revised instructions also include several amendments or additions to existing regulations and policy formulation on IBWs, submission of annual expansion plan, display&hellip;<\/p>\n","protected":false},"author":68,"featured_media":60606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012],"tags":[36009],"persona":[],"class_list":{"0":"post-68691","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"tag-details-on-sbp-allows-banks-to-expand-islamic-banking-window-operations","9":"cat-15012-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Banks to expand Islamic Banking Window operations - Zameen News<\/title>\n<meta name=\"description\" content=\"The State Bank of Pakistan (SBP) on Wednesday allowed banks to expand the operations of their Islamic Banking Window facilities, a news source reported.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks to expand Islamic Banking Window operations - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The State Bank of Pakistan (SBP) on Wednesday allowed banks to expand the operations of their Islamic Banking Window facilities, a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-01T05:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/SBP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Safina Sultan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Safina Sultan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Banks to expand Islamic Banking Window operations - Zameen News","description":"The State Bank of Pakistan (SBP) on Wednesday allowed banks to expand the operations of their Islamic Banking Window facilities, a news source reported.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html","og_locale":"en_US","og_type":"article","og_title":"Banks to expand Islamic Banking Window operations - Zameen News","og_description":"The State Bank of Pakistan (SBP) on Wednesday allowed banks to expand the operations of their Islamic Banking Window facilities, a news source reported.","og_url":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html","og_site_name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","article_publisher":"https:\/\/www.facebook.com\/ZameenPK","article_published_time":"2020-08-01T05:00:00+00:00","og_image":[{"width":1170,"height":400,"url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/SBP.jpg","type":"image\/jpeg"}],"author":"Safina Sultan","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Safina Sultan","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html"},"author":{"name":"Safina Sultan","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/0f7ad58ef43a9c16d70bfd31d586f512"},"headline":"SBP allows banks to expand Islamic Banking Window operations","datePublished":"2020-08-01T05:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html"},"wordCount":260,"commentCount":0,"publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"image":{"@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/SBP.jpg","keywords":["details on SBP allows banks to expand Islamic Banking Window operations"],"articleSection":["Allied Industries"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html","url":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html","name":"Banks to expand Islamic Banking Window operations - Zameen News","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html#primaryimage"},"image":{"@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/SBP.jpg","datePublished":"2020-08-01T05:00:00+00:00","description":"The State Bank of Pakistan (SBP) on Wednesday allowed banks to expand the operations of their Islamic Banking Window facilities, a news source reported.","breadcrumb":{"@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html#primaryimage","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/SBP.jpg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/SBP.jpg","width":1170,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zameen.com\/news"},{"@type":"ListItem","position":2,"name":"SBP allows banks to expand Islamic Banking Window operations"}]},{"@type":"WebSite","@id":"https:\/\/www.zameen.com\/news\/#website","url":"https:\/\/www.zameen.com\/news\/","name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","description":"","publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.zameen.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.zameen.com\/news\/#organization","name":"Zameen.com","alternateName":"Zameen","url":"https:\/\/www.zameen.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","width":600,"height":300,"caption":"Zameen.com"},"image":{"@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ZameenPK","https:\/\/x.com\/ZameenProperty","https:\/\/www.instagram.com\/zameenpk\/"]},{"@type":"Person","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/0f7ad58ef43a9c16d70bfd31d586f512","name":"Safina Sultan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/41ef23ce0eab3597842e7f43d50bc919f73ac1f4e11afa5f19ca36f6e55f832f?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/41ef23ce0eab3597842e7f43d50bc919f73ac1f4e11afa5f19ca36f6e55f832f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/41ef23ce0eab3597842e7f43d50bc919f73ac1f4e11afa5f19ca36f6e55f832f?s=96&d=mm&r=g","caption":"Safina Sultan"},"description":"Safina Sultan is a Content Developer at Zameen.com.","url":"https:\/\/www.zameen.com\/news\/author\/safina"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/68691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/comments?post=68691"}],"version-history":[{"count":2,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/68691\/revisions"}],"predecessor-version":[{"id":68718,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/68691\/revisions\/68718"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media\/60606"}],"wp:attachment":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media?parent=68691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/categories?post=68691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/tags?post=68691"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/persona?post=68691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}