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SBP extends FICF proposal submission deadline to March 5

ISLAMABAD: State Bank of Pakistan (SBP) on Wednesday extended the deadline for submission of proposals under Financial Innovation Challenge Fund (FICF) 3rd round on ‘Promoting Excellence in Islamic Finance’ up to March 5, ARY News has learnt. 

As per press release issued by SBP, the deadline for submission of quality proposals by the potential applicants has been extended from February 20 to March 5.

The central bank unveiled the 3rd challenge round on January 9, 2015  in Islamabad, whose guidelines can be read by clicking the link as follows , Guidelines for 3rd Challenge Round .

FICF is a component of the larger financial inclusion program being implemented by State Bank under the funding assistance of UK-Aid. The objective of this round is to develop education 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 realize/meet the growing demands for Shariah compliant products and services in Pakistan.

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