According to a statement, the State Bank of Pakistan (SBP) has won the Best Central Bank of 2021 award for fostering Islamic financing.
The Islamic Financing News (IFN), a Malaysian subsidiary of the RED money Group, named the SBP the best central bank in the world for promoting Islamic finance in 2021.
On Thursday, the results of the global vote were revealed. In the world of Islamic finance, the IFN Best Banks Poll is recognised as one of the most important awards.
The Bank Negara Malaysia came in second, with the Saudi Central Bank coming in third.
This is one of the most hotly contested categories, with regulators vying for supremacy based on extraordinary advancements achieved throughout the year. For the fifth time in the last seven years, the SBP has earned this prize.
For the years 2015, 2017, 2018, and 2020, the central bank received this prestigious prize.