Tag Archives: Islamic banks brace for minimum deposit rate

KARACHI: Share prices of Islamic banks took a beating on Monday, thanks to Finance Minister Dr Shamshad Akhtar’s recent statement that customers are getting short-changed by Sharia-compliant lenders by way of insufficient returns on deposits. Speaking to a TV host, Dr Akhtar said the State Bank of Pakistan (SBP) should review the issue of minimum deposit rate (MDR) — a …

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