Developments in Islamic Banking

Explores the theoretical and practical features, recent developments and future prospects of interest-free banking, illustrated by a detailed analysis of the past twenty-five years of the interest-free banking movement in Pakistan (1980-2005). It helps the reader to understand the model underpinning interest-free banking, based on principles of free market mechanism, efficiency, ethical investment and socio-economic justice. And it assesses the practical success of interest-free banking at individual Islamic banks and at state level, as in the case of Pakistan.