Summary
The purpose of this study was to investigate the Islamization of banking in Pakistan. Pakistan introduced an interest free Islamic Banking System on January 1, 1981. A gradual switch from traditional banking system to Islamic banking system was promised. The Islamization of banking comes under the Islamic Economic System. The Islamic Economic System means to follow the Quranic guidance about the economy for achieving justice or "Al-Adl" which brings higher prosperity and welfare in the society. The new system abolishes the interest rate from the economy and encourages a Shirakat business (partnership) on profit and loss basis. In this paper efforts were made to investigate the IES in general and introduce Islamic Banking System in Pakistan in particular. The statistical analysis of 9 years of Islamic banking in Pakistan supports the argument of Islamic Economist that "Islamic Economic System may be a viable alternate to the existing economic system of the world."
Read More ↓Edition Statements
- Publication Date:1991
Thesis Information
- Degree:M.A.
- University:Central Michigan University
- Pages:73
Publication Statements
- Language:eng
- Publication Date:1991
Edition Identifiers
- proquest:219903694
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