{"id":4168,"date":"2025-03-06T11:06:20","date_gmt":"2025-03-06T06:06:20","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=4168"},"modified":"2025-03-06T11:06:20","modified_gmt":"2025-03-06T06:06:20","slug":"sbp-updates-mudarabah-based-financing-framework-for-islamic-banks","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=4168","title":{"rendered":"SBP updates Mudarabah-based Financing framework for Islamic Banks"},"content":{"rendered":"<p data-pm-slice=\"1 1 []\"><em>KARACHI: March 6, 2025<\/em> \u2013 The <a href=\"https:\/\/www.sbp.org.pk\/index.html\" rel=\"nofollow noopener\" target=\"_blank\">State Bank of Pakistan (SBP)<\/a> has introduced an updated mechanism for Mudarabah-based Financing Facilities (MFF), including Shariah-compliant Standing Ceiling Facility and Open Market Operations (OMO) injections, for Islamic Banking Institutions (IBIs).<\/p>\n<p>According to a notification issued by the central bank, these financing facilities will now be available against Government of Pakistan (GoP) Ijara Sukuk (GIS), held in the Central Depository Company (CDC). This move aims to streamline collateralized liquidity management for Islamic banks.<\/p>\n<h2><strong>New Collateral Framework for IBIs<\/strong><\/h2>\n<p>Under the revised framework, IBIs must pledge GIS (CDC) as collateral in favor of SBP through the Central Depository System (CDS) using designated Group IDs. The central bank has introduced two classifications for these facilities:<\/p>\n<ul data-spread=\"false\">\n<li><strong>Ceiling Facility<\/strong> (Group ID: 2025-30)<\/li>\n<li><strong>OMO Injection<\/strong> (Group ID: 2025-29)<\/li>\n<\/ul>\n<p>To access financing, IBIs must ensure that the market value of pledged collateral matches the financing amount, expected profit, and an applicable haircut determined by SBP. The valuation of GIS (CDC) will be based on Financial Market Association of Pakistan (FMA) revaluation rates from the last working day before the request.<\/p>\n<h2><strong>Operational Guidelines and Liquidity Management<\/strong><\/h2>\n<p>For the duration of the facility, the pledged collateral will be excluded from IBIs\u2019 Statutory Liquidity Requirement (SLR). Once a <a href=\"https:\/\/pkfin.kotenterprises.dev\/ptcl-and-ifc-led-consortium-secure-historic-400-million-financing-deal\/\" target=\"_blank\" rel=\"nofollow noopener\">financing deal<\/a> is confirmed, SBP will transfer funds directly into the IBIs\u2019 accounts. Upon maturity, SBP will recover the financing amount along with profit before releasing the pledged securities.<\/p>\n<p>Furthermore, SBP has mandated that IBIs availing MFF under the updated guidelines must submit a revised deal confirmation letter (Annexure A), duly signed by authorized signatories, to the Chief Manager at <a href=\"https:\/\/pkfin.kotenterprises.dev\/secp-and-sbp-collaborate-on-same-day-corporate-bank-account-opening-initiative\/\" target=\"_blank\" rel=\"nofollow noopener\">SBP Banking Services Corporation<\/a> (BSC), Karachi Office.<\/p>\n<h2><strong>Strengthening Islamic Banking Operations<\/strong><\/h2>\n<p>The initiative is part of SBP\u2019s broader strategy to enhance Shariah-compliant liquidity solutions, ensuring smooth operations in the Islamic banking and financial markets. The updated guidelines align with <strong>DMMD Circular No. 9 of 2024<\/strong>, reinforcing regulatory measures for <a href=\"https:\/\/pkfin.kotenterprises.dev\/sbp-issues-guidelines-for-pool-management-for-islamic-banking-institutions\/\" target=\"_blank\" rel=\"nofollow noopener\">Islamic banking institutions<\/a>.<\/p>\n<p>This latest development marks another step by <a href=\"https:\/\/pkfin.kotenterprises.dev\/sbp-official-outlines-islamic-finance-as-a-framework-for-progress\/\" target=\"_blank\" rel=\"nofollow noopener\">SBP in fostering the growth of Islamic finance<\/a> in Pakistan, providing structured liquidity support to IBIs while maintaining adherence to Shariah principles.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI: March 6, 2025 &ndash; The State Bank of Pakistan (SBP) has introduced an updated mechanism for Mudarabah-based Financing Facilities (MFF), including Shariah-compliant Standing Ceiling Facility and Open Market Operations (OMO) injections, for Islamic Banking Institutions (IBIs). According to a notification issued by the central bank, these financing facilities will now be available against Government [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1299],"tags":[],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.9 - aioseo.com -->\n\t<meta name=\"description\" content=\"KARACHI: March 6, 2025 \u2013 The State Bank of Pakistan (SBP) has introduced an updated mechanism for Mudarabah-based Financing Facilities (MFF), including Shariah-compliant Standing Ceiling Facility and Open Market Operations (OMO) injections, for Islamic Banking Institutions (IBIs). According to a notification issued by the central bank, these financing facilities will now be available against Government\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"FN Pakistan Staff\"\/>\n\t<link rel=\"canonical\" href=\"https:\/\/pkfin.kotenterprises.dev\/?p=4168\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.9\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"Fintech News Pakistan - Latest Fintech News, Insights, Analysis and Intelligence from Pakistan.\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"SBP updates Mudarabah-based Financing framework for Islamic Banks - Fintech News Pakistan\" \/>\n\t\t<meta property=\"og:description\" content=\"KARACHI: March 6, 2025 \u2013 The State Bank of Pakistan (SBP) has introduced an updated mechanism for Mudarabah-based Financing Facilities (MFF), including Shariah-compliant Standing Ceiling Facility and Open Market Operations (OMO) injections, for Islamic Banking Institutions (IBIs). 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