Tag Archives: Financial Markets

Sukuk Market in Pakistan Set for Take-Off

Salman Ahmed Shaikh Sukuk is an alternative Islamic finance instrument for conventional bonds. Sukuk is a certificate that represents ownership in underlying real asset(s). Islamic law does not permit interest and hence conventional coupon paying bonds are impermissible as per … Continue reading

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Effect of Zakat on Asset and Capital Markets

Salman Ahmed Shaikh Zakat is a religious obligation to pay a part of wealth and production to the government. In its economic character, Zakat is a combination of a net worth tax and production tax. Zakat is levied as per … Continue reading

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