What is it about?
It is an objective critique of Islamic banking in Pakistan from an economic perspective and it highlights that Islamic banks predominantly use debt based modes of finance, interest based benchmarks for pricing, provide much more expensive products, much less returns, have higher spreads and are less active in micro finance, agriculture finance and finance for small enterprises.
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Why is it important?
The paper analyzes the Islamic banking philosophy, principles and practices and identifies the shortcomings which need attention of Islamic scholars as well as the regulators.
Perspectives
Meaningful assessment of Islamic banking requires looking at how far it has contributed to uphold Islamic principles, values and bringing about or at least working towards equitable distribution of income. This paper provides that analysis.
Dr Salman Ahmed Shaikh
Islamic Economics Project
Read the Original
This page is a summary of: Islamic Banking in Pakistan : A Critical Analysis, Journal of Islamic Economics Banking and Finance, April 2013, Al Manhal FZ, LLC,
DOI: 10.12816/0001601.
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