IDEAS home Printed from https://ideas.repec.org/h/pal/pmschp/978-0-230-58230-9_7.html
   My bibliography  Save this book chapter

Efforts to Revive Islamic Banking and Finance in Pakistan (1992–1998)

In: Developments in Islamic Banking

Author

Listed:
  • Mohammad Mansoor Khan

    (University of South Australia)

  • Muhammad Ishaq Bhatti

    (La Trobe University)

Abstract

The Federal Shariat Court resolved in November 1991 that the prevalent interest-based banking and finance system has not been replaced by the IBF system and that the government should take immediate steps to transform the economy of Pakistan on Islamic lines. Earlier in July 1991 the government had constituted a Commission for Islamization of Economy (CIE) with the main objective of adopting measures for restructuring the economic and financial sector of Pakistan on Islamic lines. The CIE had been working on the same assignment when the FSC judgement on riba was announced. The government put pressure on the CIE to finalize its recommendations for eliminating interest from the banking and financial sector of Pakistan. In June 1992 the CIE submitted the Report on Banks and Financial Institutions for abolishing interest from the existing financial set-up of Pakistan.

Suggested Citation

  • Mohammad Mansoor Khan & Muhammad Ishaq Bhatti, 2008. "Efforts to Revive Islamic Banking and Finance in Pakistan (1992–1998)," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Developments in Islamic Banking, chapter 7, pages 135-157, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-58230-9_7
    DOI: 10.1057/9780230582309_7
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:pmschp:978-0-230-58230-9_7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.