Pakistan
Conventional and Islamic banking in Pakistan
Pakistan's currency is the Pakistani rupee (PKR). The State Bank of Pakistan (SBP) regulates commercial and Islamic banks and publishes institutional information. Islamic banking services can be provided by dedicated Islamic banks and qualifying banking operations, while the rights attached to a specific account depend on the contractual structure. A savings account based on profit-sharing terms should not be described as identical to a conventional interest-bearing deposit.
The Deposit Protection Corporation (DPC), a subsidiary of SBP, maintains a scheme for eligible deposits at member banks. Its published member list includes conventional as well as Islamic banks. That does not mean every investment product or account type has the same protection, nor should a wallet or financing contract be assumed to be a covered deposit. NEXVORO currently lists institutions associated with Pakistan without published offers for individual products.