The State Bank of Pakistan has once again been recognized as the Best Central Bank in Promoting Islamic Finance, winning the prestigious award for the second consecutive year.

The recognition reflects SBP’s strong commitment to steering the country toward full Shariah-compliant banking by 2027. Throughout 2025, governance remained at the heart of SBP’s Islamic finance reforms.

At the start of the year, the central bank implemented its revised Shariah Governance Framework, introducing new measures to enhance transparency, efficiency, and oversight across Islamic banks.

SBP also continued aligning Pakistan’s Islamic banking sector with global standards, adopting nearly 20 AAOIFI standards by mid-2025. These reforms are part of SBP’s Third Strategic Plan for the Islamic Banking Industry, aimed at strengthening confidence and sustainable growth in the sector.