The Direction Of Islamic Banking Development In Pakistan From Financial Experts Opinion
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Date
2021-10
Authors
Gul Ghutai
Journal Title
Journal ISSN
Volume Title
Publisher
Universiti Sains Malaysia
Abstract
The development in the industry of Islamic Banking reflects the supportive yet
enabling environment provided by Government to promote growth in the market share
of assets while providing sufficient infrastructure for facilitating new entrants. Also,
by targeting improvement measures through regulators in existing Islamic banking
entities to achieve socio-economic wellbeing of the masses. Since 2002, the industry
of Islamic Banking in Pakistan is operating parallel to conventional banking setup. The
existence of conventional banking setup losses its legitimacy to be operative in
Pakistan as it goes against the Islamic ideology of the Country. However, efforts
towards Islamization of financial setup started since long ago due to religious and
constitutional obligations but to date interest free banking has not been developed as
the only full fledge mode of banking in Pakistan. Thus, Three specific objectives of
the study are, to determine the status of development of Islamic banking in Pakistan,
to analyse the development of Islamic banking in Pakistan with respect to financial
experts’ opinion and to conclude the development of Islamic banking in Pakistan. The
qualitative research methodology is pursued throughout the study and conceptual
framework is built by adopting inductive paradigm while semi structured in dept
interview instrument has been used to represent financial experts’ opinions as
interview informants to assess the direction of Islamic banking development in
Pakistan. However,
Description
Keywords
Islamic Banking , Development In Pakistan From Financial Experts Opinion