SBP Appoints New Director for Islamic Finance Policy

The State Bank of Pakistan (SBP) has appointed Dr. Zahid ur Rahman Khokhar, a renowned and experienced Islamic banking expert, as the Director for Islamic Finance Policy. His appointment by the banking regulatory is possibly to expedite the transformation of the Riba-based banking system into Islamic banking by the stipulated period of 2028. Dr Zahid ur Rahman Khokhar gained a wealth of experience in his field with different global Islamic institutions. He is a member of the apex global body of Islamic banking and finance Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). He is also associated with the International Journal of Islamic and Middle Eastern Finance and Management He previously worked as an Islamic banking expert for the International Monetary Fund, the Central Bank of Oma and the State Bank of Pakistan. Dr Zahid acquired his doctoral degree from the International Islamic University of Malaysia in Islamic banking and finance. He also received his education from the University of Cambridge, Harvard Business School Executive Education, MIT Sloan Executive Education, Institute of Islamic Banking and Insurance-London, Lahore School of Economics, Center of Islamic Economics- Karachi, etc.