1. Islamic Banking
Final Assignment
SUGGESTIONS TO THE OPPOSITIONS
OFISLAMIC FINANCE
Submitted to:
Prof. HammadRasoolbhullar
Submitted by:
AimaMasood 0030
MCOM
Punjab College
Date:
2nd February 2013

2. SUGGESTIONS TO THE OPPOSITIONS OF
ISLAMIC FINANCE
We know that whole world is conventional based banking system and people are badly involved
in this system. They are not ready to take risk on their investment they are ready to earn that
interest on their investments very proudly. Pakistan is an Islamic country and being a Muslim
we should be against of conventional banking system, I know it is not so that easy to implement
Islamic banking over conventional banking but it is our moral responsibility to implement those
rules and regulations which Shariah has told us. So following are some of the suggestions from
my part to those people who are against the Islamic banking:
The most and for Important thing being a Muslim is that Islamic banking is free from
Riba where as Conventional Banking is interest based.
First of all the Islamic banking just deals when the usage of the commodity start, at a
point when it stop working the rentals on that particular commodity stops which is very
different from the conventional banking system.
Secondly Islamic banking is a transparent system whatever they do they tell their
customers where as in conventional banking you don’t even have any idea where your
money is being utilized.
Islamic financial institutions do investment in only those projects which is approved by
shariah and in which risk is involved for loss also. Because it promotes equality in
society.
The Islamic financial institutions provide a wide range of facilities, contracts and
agreements (mudarba, musaharka, takaful, rental based agreements etc ) which not only
promote business environment but also trade , education, safety, infrastructure
development in short this institution not only cover the real and financial but cover the
whole economy of country for growth and welfare purpose.