Banks In Pakistan

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1

I am from the UK.

I am just wondering if the banks such as UBL use shariah based systems or are they based on western style interest system?

Thanks.

2

Re: Banks In Pakistan

I think they use interest as sell (as most banks do to survive) but they call it "profit". So when they apply interest to your account, they are "sharing profit". That's how it used to be, it may have changed now but I doubt it.

3

is there any banks in Pakistan that are truly Islamic if not it would be shocking as a muslim country for years.

4

Re: Banks In Pakistan

When I was living in Pakistan, I did hear that some banks were on complete Islamic system. So yes, there were some, not sure if that number has increased or decreased. It's pretty hard for banks to survive without interest, that's where the money lies. It's like humans survive on food and someone asking humans not to eat food.

5

Re: Banks In Pakistan

do you know the name of the banks that are completely islamic?

Also, for your information some people in Britain are predicting over the next 10 years Britain will be the capital for Islamic shariah system than western system as it model is 10 times more effective and appealing to the general public muslims and non muslims.

6

Re: Banks In Pakistan

I don't remember the name as it's been over 10 years since I left Pakistan, but I am sure you will find more information on google.

7

i wouldnt hold your breath:chai:

8

Re: Banks In Pakistan

I think Meezan Bank, Faisal Bank, Askari Bank and Bank Islami are based on Islamic banking. But don't take my word for it. You can check their websites for more info.

9

Re: Banks In Pakistan

theres no such thing as islamic banking :chai:

10

what about the banks in saudi arabia, i think they work a little differently from the ones in pakistan, but am still not sure, if its possible for them to be completely islamic…

any one knows, about ksa.?

Sunnah Way...