SBP 'Shariah Board' renamed as 'Shariah Advisory Committee'

The State Bank of Pakistan (SBP) has announced changes in nomenclature of "SBP Shariah Board" by converting it into "Shariah Advisory Committee". According to SBP IBD Circular Letter No. 01 of 2018, issued on Wednesday, the "Shariah Board" of State Bank has been renamed as "Shariah Advisory Committee" (SAC) with immediate effect. Therefore, the nomenclature of SBP Shariah Board as used in all SBP communications including Circulars, circular letters, regulations and guidelines may be read as "Shariah Advisory Committee".