Financing by the banks on non-interest basis

Pakistan is currently Islamizing its economy. During the transition between economic systems people are eager to see the new one implemented quickly. Once the Islamic system is completely in place, the current uncertainty will disappear. Since Pakistan will not return to the old system, its citizens must sincerely try to make an Islamic economy work; their efforts will fail unless they are fully determined. Unfortunately, Pakistani society contains some unprincipled elements. While most of the country wants Islamization, a small and well-connected minority is holding back. Therefore, reform measures should be careful. An Islamic system depends more on honesty and capability. Although business losses due to uncontrollable factors are one matter, incompetent people should be held accountable. We should avoid excessive bureaucratic entanglement with business operations. Simultaneously, businesses should understand that banks are their partners and will be involved in their affa