Year
1995
Country
United Kingdom
Language
English
Abstract
Addressed are the challenges that slow any transition from conventional banking to Islamic banking in Pakistan. While Pakistan's Shari`a court has ruled that all operations involving interest are forbidden, the government kept the ban from being implemented by an appeal to the Supreme Court that it was not possible to change the financing methods used by the country. Debt, both owed to the public sector and to foreign countries, has also been a hurdle to Islamicization. Interest will have to be paid on foreign loans regardless of any domestic ban. Thus, some argue, conventional practices need to continue. Nonetheless, Islamic economists like Khurshid Ahmad are not discouraged.
English
ISSN/ISBN
0307-1766
No. of Pages
NULL
Volume
42336
Select type of work
Name of the Journal
CIS Program Old
CIS publications
No
CIS Thesis
No