@motasim @bilalgilani Sukūk (plural of Sakk) are certificates, with each Sakk representing a proportional undivided ownership right in tangible and intangible assets, monetary assets, usufructs, services, debts or a pool of these assets, or a business venture (such as Muḍārabah or Mushārakah).[1/n] @motasim @bilalgilani These assets, which must be clearly identifiable, may be in a specific project or investment activity in accordance with Sharī`ah rules and principles. [2/n]

Pleasure to Chair this distinguished panel of speakers at #GIFS2020: Former Governor @StateBank_Pak @1sakhtar; Mr. Abbasi, SBP; CEO @faysalbank; CEO @habib_metro; CEO @DibPakistan.
Had excellent discussion on #IslamicFinance issues in 🇵🇰. Thanks @ArifAlvi President for coming. Excellent recommendations for #IslamicFinance to become relevant and agile. Setting up National Committee for Islamic finance comprising various members from industry @StateBank_Pak @SECPakistan and banks, academia and professionals for setting "Top-down* approach.

We are #pleased to #conclude our marathon of 4 consecutive #IMF #TechnicalAssistance #missions with productive outcomes for #IslamicFinance, despite the very challenging constraints and limitations. The first six months of the year under #COVID19, a #NewNormal", have been fantastic intellectually and fulfilling.

#NewNormal" continues. After #CentralBank of #Yemen and #Iraq, we are having mission with #CentralBank of #Libya. Concluded a very productive #meeting with colleagues from #CentralBank and #IMF for a #Islamicfinance IMF mission through #Cisco #webmex. #riskmanagement #Libya Other than #Sudan and #Iran, #Libya is going to be #third #country in the world to have full-fledged #Islamicfinance system after #transition is completed. It requires a significant progress on Islamic finance #regulation and #supervision, which is #underway.