The SECP regulates highly important segments of the Islamic financial services industry, including modarabas, takaful, Islamic NBFIs
, Islamic mutual funds, pension funds, real estate investment trusts, Sharia-compliant companies and securities.
For instance, the dummy variables for NBFI
and NGO present negative and statistically significant coefficients, suggesting that for those types of MFIs the loans granted are significantly lower.
I was also named Executive Member of NBFI
& Modaraba Association of Pakistan.
The combination of external and internal factors gave rise to a crisis that centered on the many banks and NBFI
(14) that were borrowing short on the international markets and lending long, often to small numbers of domestic corporate clients.
facilitate bank-related financial services, such as investment, risk pooling, contractual savings, and market brokering.
Thus, the compliance of such requirements should differentiate MFIs from other NBFIs
, applying a preferential regulatory discipline more focused on non-prudential regulation.
The NGOs represent 59% of our sample, however, the NBFI
and Bank represent respectively 17% and 9% of the sample.
First, IRS has identified approximately 107,000 potential NBFIs
, yet FinCEN, IRS, and others agree there is a portion of the NBFI
population IRS has not identified.
The World Bank team also explores NBFI
investment opportunities in pension funds, insurance companies, export finance, mortgage securities, and municipal bonds.
However, to put that in perspective in relation to non-bank financial institutions (NBFIs
), some comment on the significance and performance of the NBFI
sector is appropriate.