British-based bank: SCB runs second largest Islamic window in Pakistan

KARACHI: As many as 14 conventional banks in Pakistan offer Shariah-compliant banking services through separate Islamic windows. Although many of these 14 banks are foreign ones, Standard Chartered Bank Pakistan happens to be the only banking institution with a western pedigree and a truly global presence across five continents.

And yet, it runs the largest Islamic banking window in Pakistan, only after Bank Alfalah, with an 8% share in revenues, 8% share in advances and 4% share in deposits of the entire Islamic banking industry as of December 2012.

“We believe that the kind of expertise and Shariah scholars we have for Islamic banking is far better than other conventional banks,” said Azhar Aslam, who heads Islamic banking at Standard Chartered Bank Pakistan, while speaking to The Express Tribune in a recent interview.

Read more » The Express Tribune
http://tribune.com.pk/story/582899/british-based-bank-scb-runs-second-largest-islamic-window-in-pakistan/

A man with nerves of steel

By Sadia Qasim Shah

PESHAWAR: Five years full of nerve-testing situations, tight security barriers, chilling death threats, social isolation (as others considered him a security threat to themselves) and apparently even the cold-blooded killing of his only young son seem not to have broken the spirits of the 55-year-old Mian Iftikhar Hussain, the spokesperson of the former Khyber Pakhtunkhwa government which had opposed the terrorists and successfully rescued the Swat Valley from falling into their hands.

“One should never lose hope,” says Mr Hussain in an exclusive interview with Dawn, with his typical serene smile and composed demeanour, showing no sign of bitterness even after losing his seat in May 11 general elections.

Mr Hussain doesn’t show he is a broken man, though he is going to observe third anniversary of his sole son who was targeted by the Taliban.

The man who as a spokesperson of ANP government emerged as a bold voice against the terrorist conglomerate called Tehreek-i-Taliban Pakistan (TTP) spent sleepless nights finding a way to express his innermost thoughts and agony after his only son Mian Rashid Hussain, only 26, was killed by Taliban to teach Mian Sahib a lesson.

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