Islamic Banking Windows of Conventional Banks: Evaluation of Performance on the basis of Shariah Standards

Abstract

Islamic Banking is flourishing speedily and rapidly in Pakistan. In the year of 2016, the assets and capitals of Islamic Banking Industry (IBI) were noted and recorded                                                                                                                                                                                                                                                                                                                                                                                                                      magnification and growth of Rs. 65 billion and touched and reached to the limit of Rs. 1,853 billion. Deposits and money of IBI also multiplied and increased by Rs. 97 billon and extended and reached to Rs. 1,573 billion. In this increasing and expending market, a series of different Commercial and Conventional (Interest/Usury Based) Financial Institutions and Banks in all different states and countries in addition to Pakistan are also offering the services of Islamic Banking Branches (IIB’s). So, these IIB’s are offering the services of Islamic tools and modes of financing under the umbrella and supervision of Sharia’s Supervisory        Board and execute and fulfill all the demands and requirements of Central Bank. But in spite of this, there are some hesitations and doubts apropos of Sharia’s permissibility and legitimacy and Sharia’s compliance among whole general public. The target, goal and objective of this research is to present a compendious and comprehensive investigative, exploratory and analytical information and study about the Islamic Banking Branches and Islamic Banking Windows in the shadow and light of Sharia’s perspective. In this article the synchronizations of regulations of State Bank of Pakistan (SBP) and overview and view point of opponents and proponents are also researched and examined