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Conceptual Developments in Islamic Banking and Finance in Pakistan (1977–1980)

In: Developments in Islamic Banking

Author

Listed:
  • Mohammad Mansoor Khan

    (University of South Australia)

  • Muhammad Ishaq Bhatti

    (La Trobe University)

Abstract

The IBF movement had gathered significant momentum in the Muslim world by the late 1970s. An increasing number of Islamic banks had emerged in the private sectors of Muslim countries. However, no Muslim country had taken an initiative to establish its national economy and finance sector on Islamic lines. A major breakthrough in this regard occurred in September 1977 when the president of Pakistan General Mohammed, Ziaul Haq, expressed an interest in transforming the economy of Pakistan on Islamic lines. He directed the Council of Islamic Ideology (CII) to formulate a blueprint for an interest-free economy within 3 years.

Suggested Citation

  • Mohammad Mansoor Khan & Muhammad Ishaq Bhatti, 2008. "Conceptual Developments in Islamic Banking and Finance in Pakistan (1977–1980)," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Developments in Islamic Banking, chapter 4, pages 77-105, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-58230-9_4
    DOI: 10.1057/9780230582309_4
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    Cited by:

    1. Alexakis, Christos & Kenourgios, Dimitris & Pappas, Vasileios & Petropoulou, Athina, 2021. "From dotcom to Covid-19: A convergence analysis of Islamic investments," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    2. Hasnie, Syed Sharjeel Ahmad & Collazzo, Pablo & Hassan, M. Kabir, 2022. "Risk assessment of equity-based conventional and islamic stock portfolios," The Quarterly Review of Economics and Finance, Elsevier, vol. 85(C), pages 363-378.
    3. Mohamed Ali Trabelsi, 2011. "The impact of the financial crisis on the global economy: can the Islamic financial system help?," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 12(1), pages 15-25, January.
    4. Safa Jallali & Faten Zoghlami, 2021. "The relevance of risk management for bank profitability: evidence from selected Islamic banks," International Journal of Management and Decision Making, Inderscience Enterprises Ltd, vol. 20(2), pages 123-143.

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