Aug 29 - Sep 04, 2005 
ISSUE # 35 

At present telecommunication is the fastest growing sector of Pakistan's economy. There was a latent demand, evident from poor tele-density and quality of services, but slow decision-making process was the biggest drag. With the shift in government policy huge investments started flowing into the sector and the results are evident. The biggest beneficiaries of the paradigm shift are subscribers, quality of services is improving and tariffs are coming down. On top of this the growth in telecom is creating new job opportunities.

Islamic banking in Pakistan has emerged as a promising, viable business having capacity to offer total financial solutions in all areas where the conventional banking system was operating so far, yet it gives a sense of satisfaction to the clients being free from exploitation especially in respect of financial charges. So far the Islamic Banking system has yet to establish itself as the popular financing system at the micro-level as people at the individual level have yet to shift from decades old conventional system. However, the Islamic Banking is taking its roots at the macro level, which is reflected in the flow of Direct Foreign Investment, mostly coming under the Islamic financial norms.