SBP adopts AAOIFI Shariah Standard on Tawarruq

MG News | October 17, 2026 at 04:28 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

October 17, 2026 (MLN): The State Bank of Pakistan (SBP) has adopted the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Shariah Standard No. 30 on Monetization (Tawarruq) with immediate effect, subject to clarifications and amendments specified in Appendix A.

The adoption aims to strengthen the Shariah compliance framework and harmonize Shariah practices across Pakistan’s Islamic banking industry, according to SBP notice.

SBP has also issued the “Guidelines on Application of Ḥajah (Need) in Tawarruq-based Transactions” under Annexure I. The adoption of the standard and the issuance of the guidelines are in addition to the existing regulations, instructions and directives issued by SBP from time to time.

Failure to comply with these instructions may result in penal action under the relevant provisions of the Banking Companies Ordinance, 1962.

Copyright Mettis Link News

Related News

Pakistan eyes new financing deals to extend debt maturities

Pakistan eyes new Sukuk, Panda bonds with Sharjah Islamic Bank

Name	Price/Vol	%Chg/NChg
KSE100	166,419.72 133.15M	0.14% 233.55
ALLSHR	100,871.92 395.66M	0.05% 48.64
KSE30	49,316.65 59.50M	0.05% 23.11
KMI30	239,907.60 63.28M	-0.05% -114.34
KMIALLSHR	65,473.69 245.25M	-0.00% -2.07
BKTi	45,849.28 9.86M	0.23% 104.46
OGTi	33,523.02 3.37M	-0.51% -171.71

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,530.00	81,795.00 80,850.00	-70.00 -0.09%
BRENT CRUDE	109.95	110.00 104.91	4.03 3.80%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	0.05 0.04%
ROTTERDAM COAL MONTHLY	145.10	0.00 0.00	0.15 0.10%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	99.04	99.34 95.29	2.54 2.63%
SUGAR #11 WORLD	20.85	21.01 20.47	-0.28 -1.33%