Abstract

http://ssrn.com/abstract=884583
 


 



Islamic Banking: Experiences in the Islamic Republic of Iran and Pakistan


Abbas Mirakhor


International Centre for Education in Islamic Finance (INCEIF)

January 30, 1989

IMF Working Paper No. 89/12

Abstract:     
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.

Number of Pages in PDF File: 30

JEL Classification: 3116, 3120, 314

working papers series





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Date posted: February 15, 2006  

Suggested Citation

Mirakhor, Abbas, Islamic Banking: Experiences in the Islamic Republic of Iran and Pakistan (January 30, 1989). IMF Working Paper, Vol. , pp. 1-30, 1989. Available at SSRN: http://ssrn.com/abstract=884583

Contact Information

Abbas Mirakhor
International Centre for Education in Islamic Finance (INCEIF) ( email )
Kuala Lumpur
Malaysia
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