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HomeBusinessCARETAKER FINANCE MINISTER'S CONCERNS SPARK DEBATE ON ISLAMIC BANKING RETURNS

CARETAKER FINANCE MINISTER’S CONCERNS SPARK DEBATE ON ISLAMIC BANKING RETURNS

ISLAMABAD: Haal hi mein Caretaker Finance Minister ki taraf se diye gayi bayan ne islamic Banking industry ke maamle mein uthne wale sawaalon ko buland kiya hai. Unhone kaha ke islamic banks apne deposit holders ko profits mein kam wapis deti hain, jo ke conventional banks ke mukable mein hai, aur unhone State Bank of Pakistan (SBP) se is masle par tawajju dene ki darkhwast ki hai.

Abhi ke doran, islamic banks ko savings account par Minimum Deposit Rate (MDR) dene ki zarurat nahi hoti, jabke SBP ke qawaid ke mutabiq, conventional banks par yeh lazim hai. MDR conventional banks par Policy Rate ke 150 basis points (bps) nichayi hoti hai, yani ke MDR, jo ke tamam qisam ki savings aur PLS saving deposits par lagu hoti hai, ab 20.50% hai.

Agar yehi cheez islamic banks par bhi lagu hojaye, to yeh koi naya mamla nahi hoga. SBP ne minimum profit rates ka concept May 2008 mein shuru kiya tha, jise Nov-2012 mein islamic Banking se bahar kar diya gaya.

islamic banks ab conventional banks ke MDR se 700-950 bps kam profits darj kar rahi hain. Haal hi mein dar se mukhtalifata barhne se yeh farq aur bhi barh gaya hai, jo pehle 300bp se 500bp ke darmiyan hota tha. Iska matlab hai ke agar islamic Banking industry par akele mein aisi koi MDR ka qanoon lagu hojaye, to iska asar unki mutawaqti Return on Equity (ROE) par bura asar ho sakta hai.

Ek Report kay mutabiq bunyadi hisaab se hum samjhte hain ke yeh farq 950bp se 1QCY25 tak dheere dheere normal hojayega. Iska matlab hai ke humare tajaweez ke mutabiq, Mar-2024 se shuru hone wale monetary easing cycle mein, conventional banks ke MDR mein 10% ki kami hogi (20.5% se lekar 10.5% tak 1QCY25 tak), jabke islamic banks ke profits 4.5% kam hogi (11% se lekar 6.5% tak isi muddat mein). Isi tajaweez ke mutabiq, hamara mutawatir ROE 27% hota hai.

MDR ke islamic banks par lagu hone ki mumkinat ka asar shamil karke, hum do manazir chalate hain, jo 1QCY24 se shuru hoti hain: i) MDR ko conventional banks ke mutabiq lagu kia jaye, yani ke Policy Rate se 150bp kam, aur ii) MDR ko Policy Rate se 400bp kam lagu kia jaye.

Islamic banks ke liye itna relax MDR nizam is wajah se hum sochte hain ke islamic Banking industry, puri tarah se, conventional banks ke sath barabar nahi hai, jab tak ke chhote arsey ke liye Shariah sarkari securities aur Shariah sarkari securities ki muqarrar boliyan na aaye.

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