Pakistan’s National Financial Inclusion Strategy (NFIS) relies heavily on the growth of the Islamic finance sector.
According to a Moody’s analysis, Pakistan’s government and the State Bank of Pakistan (SBP) want to increase their Islamic banking market share from 17% in 2020 to 25% by 2023, based on the new NFIS targets.
A Shariah-compliant regulatory framework and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Shariah standard have been implemented by the government and central bank, according to the study.
For the worldwide Islamic finance industry, the analysis forecasted that the rising oil prices, faster economic recovery, and interest rate rises in 2022 would have a mixed impact. Economic recovery and rising interest rates are expected to boost loan growth in the Islamic finance sector until 2022, according to an Islamic finance industry report published by the International Monetary Fund (IMF).
Since the dot-com boom, Amazon has announced its first stock split since then: Investors will receive 20 shares for every share they presently possess. In after-hours trading, shares of the company jumped by 6 percent.
The board has also given the corporation permission to buy back up to $10 billion in shares. Cosmetic stock splits do not fundamentally alter the company, but they may make the shares more accessible to a wider range of investors due to their lower cost.
After Wednesday’s closure, the price of a single share would drop from $2,785.58 to $139.28. Each existing holder would receive 19 more shares for every share they currently own.
As the latest high-profile IT business to implement a stock split, Amazon has seen its share price plummet. In February, Google’s parent company, Alphabet, announced a 20-to-1 split. Apple and Tesla announced plans for 4-for-1 and 5-for-1 stock splits in the middle of 2020, respectively.
It hasn’t been a smooth ride for Amazon CEO Andy Jassy since he took the helm in July. In 2022, the stock has fallen by 16 percent, which is in line with the overall slump in the IT sector. In a recent Wall Street Journal report, billionaire activist investor Dan Loeb, who has been adding to his Amazon holdings, told investors that he sees around $1 trillion in untapped value at the business. Amazon just posted its slowest rate of growth since 2001.
