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What are the key drivers behind the 14% growth in Islamic finance?
The industry returned to strong growth after the slowdown in 2018, when the industry expanded by a more moderate 2%
By Shereen Mohamed, ZAWYA
The Islamic finance industry saw double-digit growth of 14 percent in 2019 at $2.88 trillion in assets, and it is expected to reach $3.69 trillion by 2024, according to a report by Refinitiv and the Islamic Corporation for the Development of Private Sector (ICD).
The industry returned to strong growth after the slowdown in 2018, when the industry expanded by a more moderate 2 percent. This growth is despite the uncertainty felt across the largest Islamic finance markets over the past few years due to sustained low oil prices and subdued industry growth in previous years.
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National
December 13, 2020
ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar on Saturday underscored that the PTI government paid $10.4 billion on account of debt servicing of external public loans including principal payment of $8.5 billion and $1.9 billion in interest payments.
The minister was responding to the reportage of the Annual Report on Foreign Economic Assistant (FEA) for FY19-20 which highlighted Pakistan s increased reliance on foreign commercial loans.
The country recorded total external loan inflows worth $10.7 billion in the year ended June 30, 2020. Additionally, the government raised $3.4 billion through foreign commercial loans to meet external debt obligations and support the balance of payments.
National
December 13, 2020
ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar on Saturday underscored that the PTI government paid $10.4 billion on account of debt servicing of external public loans including principal payment of $8.5 billion and $1.9 billion in interest payments.
The minister was responding to the reportage of the Annual Report on Foreign Economic Assistant (FEA) for FY19-20 which highlighted Pakistan s increased reliance on foreign commercial loans.
The country recorded total external loan inflows worth $10.7 billion in the year ended June 30, 2020. Additionally, the government raised $3.4 billion through foreign commercial loans to meet external debt obligations and support the balance of payments.