Stan Fischer assumed office as the Governor of the Bank of Israel in May 2005. He was associated with the Bank of Israel in the past, having served as an American Government adviser to Israel’s economic stabilization program in 1985.
Therefore they serve as SBP’s eyes and ears at the operational level of Islamic Banking operations in the country. The second element is Shariah Compliance Inspection. The inspection manual, which is very comprehensive, was compiled by Ernst & Young out of Bahrain in collaboration with their affiliate in Pakistan.