Islamic Banking Experiences in the Islamic Republic of Iran and Pakistan

In an Islamic system, as interest is prohibited, banks are expected to operate solely on the basis of profit and risk sharing. This paper describes the developments in Islamic banking in Iran and Pakistan. As these two countries have initiated the most far-reaching experiments with Islamic banking,...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1989
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Islamic Banking  |b Experiences in the Islamic Republic of Iran and Pakistan 
260 |a Washington, D.C.  |b International Monetary Fund  |c 1989 
300 |a 30 pages 
651 4 |a Pakistan 
653 |a Depository Institutions 
653 |a Islamic banking 
653 |a Credit 
653 |a Commercial banks 
653 |a Banks 
653 |a Finance 
653 |a Banks and banking 
653 |a Monetary economics 
653 |a Islamic Banking and Finance 
653 |a Financial institutions 
653 |a Financial services 
653 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General 
653 |a Micro Finance Institutions 
653 |a Mortgages 
653 |a Money 
653 |a Other Economic Systems: Public Economics 
653 |a Islamic finance 
653 |a Banks and Banking 
653 |a Financial Economics 
653 |a Bank credit 
653 |a Banking 
653 |a Banks and banking; Islamic countries 
653 |a Bank deposits 
653 |a Money and Monetary Policy 
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520 |a In an Islamic system, as interest is prohibited, banks are expected to operate solely on the basis of profit and risk sharing. This paper describes the developments in Islamic banking in Iran and Pakistan. As these two countries have initiated the most far-reaching experiments with Islamic banking, their experiences have a significant bearing on the feasibility of such a system. The developments in these countries are evaluated against the theory underlying the Islamic banking, and suggestions are made to achieve a more efficient system