Each and every bank and financial organization has own policies and priorities towards customers and business. Some banks are not ready or keen to change their policies when they are targeting a specific Market. If some organization wants to enter some specific market, then they must provide policies developed for that local market. Any bank that will fail to do so will not survive for long. Most people in this era will never go for big names but for ones that will offer most benefits and facilities.
Bank Al-Falah is a good example. They have offered many schemes that were targeted towards local customers and now they have a strong customer base plus they are growing at a good pace
One has to be old enough (perhaps 60 yrs old) and there are limits on how much can be invested at 11%. I think the return is 7% for everyone else. You would still make a little more than Rs 40,000 a month at 7%.
I am in a very similar position. Got Mech Eng degree from UK. I have worked for over 10 years with a car manufacturer. Now I am in a senior position (Department Manager) with good salary etc.
I am now considering whether I could get a job in Pakistan with a car manufacturer in a similar or better position. If I was to come over, what kind of salary would I get (considering my experience and position in UK). I have not taken any steps yet but I have been thinking about it, as my kids are getting older!! I am prepared to halve my current UK salary but would not want to go much lower than that.
Thanks Che…May Allah reward you for reminding everyone…No one talks about what is prohibited any more..only the professional maulvis do…so no one listens…
Yes Interest is haram and whomever eats from it will suffer in akhirah…May Allah (SWT) protect us from this web. Crdit cards, car loans, house loans, etc etc…
some of you might find it funny, risky and unrealistic but a friend of mine moved back to karachi 3 years ago. I asked him what he is going to do and he said "absolutely nothing". To date, he hasn't even tried to find a job. He had about 30k invested in stocks here in the U.S. before he moved back. All he does is sit on his arse all day long and when its late at night in Karachi and when the stock markets open here in the U.S, he spends a few hours and attempts to make a few bucks on penny stocks in early morning trading. Yes, thats exactly how he describes it. He said he makes more than enough to make a decent living in Karachi. I would find it very hard to do nothing but play risky stock business but its just me.
^^^ I don't think Allah (SWT) wanted us to sit and eat without making an effort. A lot of the stock trading is Haram any way. most people don't know this. I wouldn't be able to waste my life like that ...unless Allah took away my ability to walk and work etc...