Islamic Finance News Pakistan

The general perception is that Islamic banking in Pakistan is making progress in leaps and bonds. The supporting arguments are number of branches offering this facility, percentage of deposits held by Islamic financial institutions (Islamic banks and designated Islamic banking branches of conventional banks and Islamic banking attaining the status of first choice. However, some of the critics and even die-hard followers of Islamic banking believe the pace of growth is not as robust as it should have been; keeping in view the fact that overwhelming majority of the population is Muslim in Pakistan.