Introduction Islamic banking is banking activity that is reliable with the principles of sharia and its practical application through the growth of Islamic economics. As such, a more correct term for Islamic banking is sharia compliant finance. Islamic banking has been defined as banking in consonance with the ethos and value system of Islam and governed, in addition to the conventional good governance and risk management rules, by the principles laid down by Islamic Shariah. Interest free banking is a
Same is the case with Pakistan. Banks perform various duties which are dissimilar in nature. The primary and most important duty is to provide a safeguard for national assets. Other functions include profit making from the public funds (on interest rates) and lending of money to the borrowers. The whole of the economy and financial transactions are carried out through banking institutions these days. Banking system in Pakistan is one of the sectors which have developed
trailed by Jewish society, Christens take after Gregorian timetable and Muslims follow Islamic date-book which is based on lunar timetable and known as Hijri Calendar. There are 12 months in Hijri Calendar. Of these 12 months, there are months which are more sacred to Muslims and The Muslims of Pakistan and all over the world change their attitude towards normal living in these months.The first month of Islamic Calendar is Muharram-ul- Harram.On the 9th & 10th of this month is Youm-e-Aashura a day
profitability in Pakistan Introduction Financial sectors play a vital role in the economic development. In Pakistan the financial sectors includes commercial benks, development financial institutions (FDI), microfinance banks (MFBs), non banking finance companies (NBFCs) like as leasing companies , investment banks, discount house, housing finance companies, venture capital companies, mutual funds etc. and other modarabas, stock exchange and insurance companies. The supervisory responsibilities in case of banks
Jahangir Siddiqui Jahangir Siddiqui Group is one of the biggest financial services providers of Pakistan. This group is also the 2nd largest shareholder of the insurance company EFU. Jahangir Siddiqui was Pakistani Rags to Riches Business Tycoon, who founded JS group about 5 decades ago. Overview: When most fourteen year old boys were flying kites or playing cricket in their spare time, young Jahangir Siddiqui was busy running his business as a distributor of Coca-Cola in Hyderabad. He also set