Abstract
The IBF movement, which was launched in Pakistan with high hopes, has repeatedly taken one step forward and two steps back since 1980. Consequently it has lost real significance and appeal in the eyes of the people of Pakistan. This has essentially happened because IBF institutions cannot function as an alien entity in the Muslim polity. They are religious-based bodies, and, therefore, need Islamically imbued sociopolitical and economic environments to survive and prosper. This very core prerequisite was grossly ignored at the time the IBF system was introduced in Pakistan.
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© 2008 M. Mansoor Khan and M. Ishaq Bhatti
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Khan, M.M., Bhatti, M.I. (2008). The Causes of the Failure of Islamic Banking and Finance in Pakistan. In: Developments in Islamic Banking. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230582309_9
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DOI: https://doi.org/10.1057/9780230582309_9
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-54733-3
Online ISBN: 978-0-230-58230-9
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)