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Developments in Islamic Banking

The Case of Pakistan

This book explores the theoretical and practical features of Islamic banking. Using Pakistan as a detailed illustration, the text discusses recent developments and future prospects, demonstrating the model underpinning interest-free banking. It assesses the practical success of interest-free banking at both individual banks and state level.

If banks did not observe the regulatory limits ordained by these monetary
instruments, the SBP would charge them fines instead of penal interest.
Furthermore, the CII argued the SBP would use the tools of selective credit
control measures, the ...