On Wednesday, the State Bank of Pakistan released reports on the overall deposits of the Islamic banking industry have also shown a growth of 27.8pc in 2020.
According to the report said, is the highest increase in assets in a year since 2012 and in deposits since 2015.
Over the last five years, both assets and deposits of the Islamic banking industry have more than doubled.
“This growth in assets and deposits of the Islamic banking industry is encouraging, particularly due to the fact that the industry was also faced with the Covid-19 pandemic challenges during 2020,” the report added.
The assets of the Islamic banking industry increased to Rs4,269 billion ($27.50 billion), while deposits reached Rs3,389b ($21.3 billion) by the end of December 2020.
Financing of the Islamic banking industry has also grown by 16pc during 2020.