Sunday, April 24, 2011

Islamic Banking Recorded Growth in Pakistan

According to figures issued by the financial authorities , Islamic banking system saw a growth of 30% during the past year.

In 2010 Islamic banking sector assets grew from Pk Rs. 366 billion to Pk Rs. 477. In Pakistan as well as in other Islamic countries , Islamic finance is growing each year and has a great potential.

Muslims are reverting towards interest free economic practices, however, some people can't differentiate properly between Islamic and conventional banking practices. Most of the conventional banks in Pakistan are now opening there Islamic banking divisions.

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