Islamic banking: an appraisal.

Byline: SHAZIB KHAN (KARACHI)

Unfortunately IBIs are doing is anti-Islamic practices and nothing but in fact hypocrisy. This is evident from the Holy Quran as these IBIs just make their products look Islamic by changing their terminologies and altering their modus operandi here and there but in fact products are no different from the conventional banking products.

For example, when someone does not have enough money or he would not want to use his own money as he may have invested in some more profitable venture, he may go to any of these so called Islamic Banks to fulfil his wishes. These banks provide him funds to purchase the asset that he so wishes. These …