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Browsing BS by Author "ABDUL QADEER"

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    THE TRANSITION OF BANKING SECTOR IN PAKISTAN FROM CONVENTIONAL TO ISLAMIC BANKING ITS CAUSES AND CONSEQUENCES
    (UMT, Lahore, 2025) ABDUL QADEER
    This research study is based upon the transition of Islamic banking which is being converted from conventional banking and also the launch of new branches and subsidiaries of Islamic Banks. As Pakistan is an Islamic state and according to constitutional law it is mandatory to follow the Shariah and Islamic economic principles in the country. In such essence, the Islamic Banking has evolved and grown since the last few decades. Islamic banking has attracted much attention after the establishment of Meezan Bank, the first Pakistani Islamic bank. There is the role of the state of Pakistan, SBP and conventional in this shift. As the nature of Islamic banking is based on the Shariah Compliance. It avoids the interest-based transactions and works on the PLS (Profit and Loss sharing) methods. The reasons behind the shifts are that it is reliable and practical in comparison to conventional banking. Further the beliefs and ethical considerations of the public, to go for the services of this sector. It has impacted the economy in a way that it is backed by assets. It leads to more stable financial systems, reducing the likelihood of financial crises. As well as the Islamic principles promote ethical and socially responsible investments. However, the ruling by the Shariat court to complete the shift towards Islamic banking is increasing the pace of transition.