Islamic Banking in Pakistan: Shariah-Compliant Finance and the Quest to make Pakistan more Islamic

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Feisal Khan

Islamic Banking in Pakistan

Shariah-Compliant Finance and the Quest to make Pakistan more Islamic

Feisal Khan

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English

Routledge
04 February 2019

Islam; Banking

Series: Routledge Contemporary South Asia Series

"Islamic Banking and Finance (IBF) has become a growing force over the past three decades, with Pakistan being one of the IBF pioneers by converting to an ‘interest-free’ banking system in 1985. However, since independence in 1947, there has been continual tension over Pakistan’s essential character, between Islamic Minimalists, who favour a Modernist interpretation of Islam, and those who favour an Islamic Maximalist interpretation that sees Pakistan as a model Islamic state.

This book analyses the push to Islamize Pakistan and its financial system by Islamic revivalists, following the early 1947 debates in the original Constituent Assembly to the final 2002 ruling on IBF of the Shariat Appellate Bench of the Pakistan Supreme Court. It examines the practice and theory behind contemporary Islamic, ""Shariah-compliant"", banking. It offers extensive interviews with Pakistani Islamic bankers on the state of their industry and how they see it developing, and provides analysis on how the Islamic banks’ customers differ from those of conventional ones.

Presenting a critical analysis of Pakistan’s IBF experience and offering a new insight into Pakistan’s banking industry that illustrates broader political and social trends in the country, this book will be of interest to specialists on Islam, South Asia and International Economics."

By: Feisal Khan
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm,
Weight: 362g
ISBN: 9780367232023
ISBN 10: 0367232022
Series: Routledge Contemporary South Asia Series
Pages: 204
Publication Date: 04 February 2019
Audience: College/higher education , Primary
Format: Paperback
Publisher's Status: Active

Feisal Khan is Chair of the Economics Department at Hobart and William Smith Colleges in New York, USA. He has published on economic development and corruption in Pakistan in academic journals and edited volumes.