University of Maryland - Baltimore

This dissertation investigates the formulation and implementation of Pakistan's zaka system, and evaluates the effectiveness of this public welfare system on the basis of the level of assistance provided and the operational costs. The system collects a 2 ½% levy on financial accounts, and local committees distribute payments to those determined most eligible. The money collected through the

This study examines issues relating to the viability and developmental effect of Islamic banking in its first decade, and offers policy recommendations with respect to profit performance, rates, and non-pricing strategies. The rejection of interest inhibits banks' abilities to gain short-term earnings, given that interest-based money market instruments are prohibited. How can Islamic banks overcome this deficiency in their earnings prospects? Why do Islamic banks move away from projects toward collateral-based lending and trade financing?