{"id":86206,"date":"2022-05-27T11:21:37","date_gmt":"2022-05-27T06:21:37","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=86206"},"modified":"2022-05-27T11:21:42","modified_gmt":"2022-05-27T06:21:42","slug":"sharia-moodys-28-rise-market-share","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sharia-moodys-28-rise-market-share.html","title":{"rendered":"Sharia Banking: Moody&#8217;s predicts 28% rise in banking market share in five years"},"content":{"rendered":"\n<p>Islamabad: The International banking monitoring firm Moody\u2019s has predicted a 25-28% growth in Sharia compliance banking volume in the next 5 years from 2021 to 2026, news sources reported on May 24.&nbsp;&nbsp;<\/p>\n\n\n\n<p>According to reports, Moody&#8217;s Senior Vice President Constantinos Krypreos stated in a media conference that Islamic banking in the country has continued to considerably outstrip conventional banking. <a href=\"https:\/\/www.zameen.com\/news\/sbp-digital-islamic-banking-system.html\" data-type=\"URL\" data-id=\"https:\/\/www.zameen.com\/news\/sbp-digital-islamic-banking-system.html\">Sh<\/a><a href=\"https:\/\/www.zameen.com\/news\/sbp-digital-islamic-banking-system.html\" data-type=\"post\" data-id=\"81369\" target=\"_blank\" rel=\"noreferrer noopener\">aria-compliant banking<\/a> will have a market share of 30% in assets and deposits by the end of 2026, with a net financing market share of roughly 33 %.&nbsp;<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/moodys-expects-pakistans-remittances-grow.html\" data-type=\"post\" data-id=\"74405\" target=\"_blank\" rel=\"noreferrer noopener\">Moody\u2019s expects Pakistan\u2019s remittances to grow in coming years<\/a><\/p>\n\n\n\n<p>He said the firm forecasts average growth of 25\u201328% in total assets and deposits between 2021 and 2026, and net financings of more than 20%.&nbsp; It was also reported that the sharia banking sector has grown at a consistent pace of 24% per annum since 2011, reaching a total market value of PKR 5,577 billion, or USD 31.2 billion. In absolute terms, the <a href=\"https:\/\/www.zameen.com\/news\/sbp-allows-banks-expand-islamic-banking-window-operations.html\" data-type=\"post\" data-id=\"68691\" target=\"_blank\" rel=\"noreferrer noopener\">Islamic banking sector<\/a> is standing at a value of 19%, a substantial increase from 8% in 2011.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Moreover, according to Moody&#8217;s statistics, there are currently 22 Islamic financial institutions in Pakistan, including five fully-fledged Islamic banks and 17 conventional banks with Islamic banking offices. In December 2021, there were a total of 3,956 branches operational, with 1,442 more Islamic banking windows (dedicated counters at conventional branches).&nbsp;<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-launches-five-year-plan-for-islamic-banking-sector.html\" data-type=\"post\" data-id=\"75380\" target=\"_blank\" rel=\"noreferrer noopener\">SBP launches five-year plan for Islamic banking sector<\/a><\/p>\n\n\n\n<p>Moody&#8217;s report has forecasted a comparable number of new branches to be built yearly over the next five years, with 500 branches added in 2021. It is worth noting that, in a<a href=\"https:\/\/www.zameen.com\/news\/secp-first-sharia-compliant-reit-introduced.html\" data-type=\"post\" data-id=\"77602\"> landmark ruling issued in May 2022<\/a>, the Federal Sharia Court gave the federal government a five-year period to replace interest with the Sharia banking system. The judgment calls for such measures to be entirely Islamic in nature.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The International banking monitoring firm Moody\u2019s has predicted a 25-28% growth in Sharia compliance banking volume in the next 5 years from 2021 to 2026, news sources reported on May 24.&nbsp;&nbsp; According to reports, Moody&#8217;s Senior Vice President Constantinos Krypreos stated in a media conference that Islamic banking in the country has continued to considerably outstrip conventional banking. Sharia-compliant banking will have a market share of 30% in assets and deposits by the end of 2026, with a net financing market share of roughly 33 %.&nbsp; Read: Moody\u2019s expects Pakistan\u2019s remittances to grow in coming years He said the firm forecasts average growth of 25\u201328% in total assets and deposits between 2021 and 2026, and net financings of more than 20%.&nbsp; It was also reported that the sharia banking sector has grown at a consistent pace of 24% per annum since 2011, reaching a total market value of PKR 5,577 billion, or USD 31.2 billion. In absolute terms, the Islamic banking sector is standing at a value of 19%, a substantial increase from 8% in 2011.&nbsp;&nbsp; Moreover, according to Moody&#8217;s statistics, there are currently 22 Islamic financial institutions in Pakistan, including five fully-fledged Islamic banks and 17 conventional banks&hellip;<\/p>\n","protected":false},"author":84,"featured_media":61098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[52456,52457,52455,52454],"persona":[],"class_list":{"0":"post-86206","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-interest-free-banking-sector-pakistan","9":"tag-pakistan-sharia-banking","10":"tag-sharia-banking-pakistan","11":"tag-sharia-banking-moodys-predicts-28-rise-in-banking-market-share-in-five-years","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Moody&#039;s expects 28% rise in Sharia banking market in 5 yrs-Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The International banking monitoring firm Moody\u2019s has predicted a 25-28% growth in Sharia compliance banking volume in the next 5 years from\" \/>\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\/sharia-moodys-28-rise-market-share.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moody&#039;s expects 28% rise in Sharia banking market in 5 yrs-Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The International banking monitoring firm Moody\u2019s has predicted a 25-28% growth in Sharia compliance banking volume in the next 5 years from\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sharia-moodys-28-rise-market-share.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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