The Causes of the Failure of Islamic Banking and Finance in Pakistan

Mohammad Mansoor Khan and Muhammad Bhatti
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Mohammad Mansoor Khan: University of South Australia

Chapter 9 in Developments in Islamic Banking, 2008, pp 181-199 from Palgrave Macmillan

Abstract: Abstract The IBF movement, which was launched in Pakistan with high hopes, has repeatedly taken one step forward and two steps back since 1980. Consequently it has lost real significance and appeal in the eyes of the people of Pakistan. This has essentially happened because IBF institutions cannot function as an alien entity in the Muslim polity. They are religious-based bodies, and, therefore, need Islamically imbued sociopolitical and economic environments to survive and prosper. This very core prerequisite was grossly ignored at the time the IBF system was introduced in Pakistan.

Keywords: Financial Institution; Banking Sector; Bank Credit; Business People; Foreign Debt (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-58230-9_9

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DOI: 10.1057/9780230582309_9

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