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Reclassification of Islamic Financing and Related Asset in Monetary and Credit Data

Karachi, April 26, 2016 (PPI-OT):The State Bank of Pakistan, through a circular in 2013 advised banks that all financings, advances (against murabaha etc.), inventories and any other related item(s) pertaining to Islamic modes of financing classified under ‘Other Assets’ would be part of the ‘Islamic Financing and Related Assets’ in scheduled banks annual, half-yearly and quarterly financial statements w.e.f. December 31, 2012.

In order to streamline the monetary and credit data with the revised definition, the Islamic financing and related assets previously classified under ‘Other Assets’ has been reclassified under credit/advances in all statistical statements of advances and monetary statistics. Accordingly, the weekly data of monetary aggregates and weekly profile of broad money have been revised. All monthly data relating to monetary and credit published through SBP website and other publications will also be revised since January 2013.

The revised table on Weekly Profile of Broad Money (M2) can be seen on SBP website at:

http://www.sbp.org.pk/ecodata/BroadMoney_M2.pdf

Details of reclassifications/revisions are available in revision study on SBP website at:

www.sbp.org.pk/ecodata/Revision_Monetary_Stats.pdf

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: syed.wasimuddin@sbp.org.pk
Website: www.sbp.org.pk

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