Pakistan main islami bankari ki koshasheen: (1980-2012) Tarekhe and tajazyati mutalya
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Date
2014
Authors
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Publisher
Pakistan Journal of Islamic Research
Abstract
Islam has prohibited Riba due to its disadvantages such as, accumulation of wealth by a group of society,inflation ,trade cycle and poverty etc.Due to various disadvantages of Riba,interest free banking industry is growing rapidly all over the world as well as in Pakistan.State bank efforts for the promotion of Islamic banking are large focused on providing the requisite financial infrastructure in shape of Shariah compliance,legaly,regulatory and supervisory framework. The sole purpose of conventional banking is to make money for the banking institute by lending out capital at interest, where in Islamic financing is always based on illiquid an asset that is a feature of the transaction.Profit to Islam financing is generated through bonafide sale of these assets.Islamic bankes are introducing Islamic mode of financing such as Murabaha,Ijara,Bai Mujjal,Bai Salam,Istasna, Musharaka and Mudaraba .Murabaha and Diminishing musharaka have remaind the most favoured mode of finance of all Islamic Banking Institutions not only in Pakistan but at the global level as well. However,it is important to note that mudaraba and musharaka have small share in overall financing portfolio. For the development of Islamic banking,it is indispensable to promote mudaraba and musharaka based mode of financing.
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Keywords
Interest, Islamic Banking, Conventional Banking, Mode of Financing, Skuk
Citation
26. Salik, M. A., & Gulzar, S. (2014). Pakistan main islami bankari ki koshasheen: (1980-2012) Tarekhe and tajazyati mutalya. Pakistan Journal of Islamic Research, 15, 143-163.