KARACHI: Islamic banking industry grew by nearly seven per cent during the second quarter of the calendar year 2013.
The momentum in growth, however, started weakening due to increasing base, said Islamic Banking Bulletin of the State Bank of Pakistan issued yesterday. The report said the asset base of the industry reached Rs903 billion, registering year-on-year growth of 27 percent, while deposits grew by 28 percent to reach Rs771bn by the end of June 2013.
The report said the share of federal government securities in overall investments remained highest contributing more than 71 percent in investment portfolio of Islamic banking industry.
Similarly, market share of both assets and deposits increased during the quarter under review and reached 9 percent and 9.9 percent, respectively, in overall banking industry, according to the report.Agencies