Paragraph on why to promote Interest-Free Banking?
Paragraph on why to promote Interest-Free Banking?
Pakistan is considered a viable market for foreign banks as they can charge any rate they wish to charge. Most people might not know that one of major reasons of the financial turmoil in 2008 was that banking on the basis of interest was being practiced. An American Entrepreneur even went to the extent of saying that the financial turmoil would not have happened, had we practiced the Islamic principles of Banking. Interest- Free banking is the only solution to the financial crises in the world and it can solve all the monetary problems not only for the third world countries but also for the first world countries.
