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SBP advice to IBIs on launching of new products

SBpKARACHI: The State Bank of Pakistan (SBP) has advised the Islamic Banking Institutions (IBIs) to submit to its Islamic Banking Department (IBD) the salient features, product structure, process flow and underlying agreement(s) of the products and services along with certificate from their Shariah Advisers at least 30 days before the proposed launch of new products and/or services.

 

This was stated in IBD Circular Letter No. 02 issued on Friday, says SBP statement issued here.

 

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