Financial innovation fund: SBP extends deadline for proposals

KARACHI: The State Bank of Pakistan (SBP) on Wednesday extended the deadline for submission of proposals under the Financial Innovation Challenge Fund (FICF) third round on “Promoting Excellence in Islamic Finance”. The third challenge round was unveiled on January 9 in Islamabad. FICF is a component of the larger financial inclusion programme implemented by the State Bank with financial assistance from the UK-Aid. Its objective is to develop educational and research infrastructure for promoting Islamic finance in partnership with leading higher education institutions. The initiative will develop the industry’s human capital base in the form of Islamic finance professionals, specialists including Shariah scholars, economists and researchers to realise and meet the growing demand for Shariah-compliant products and services in Pakistan. Earlier, the deadline for submission of quality proposals by the potential applicants was February 20, which has now been extended up to March 5.

Published in The Express Tribune, February 19^th,  2015.

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