Islamic Banking | MCQs

Explanation

1st Jan 1981 interest-Free Banking was introduced in Pakistan first time.

From July 1, 1985, all commercial banking in Pak Rupees was made interest-free. 

In 1985 the President of Pakistan Mohammad Zia-ul-Haq introduced an interest-free banking system in Pakistan

Meezan Bank is interest-free in Pakistan.

Explanation

1st Jan 1981 interest-Free Banking was introduced in Pakistan first time.

From July 1, 1985, all commercial banking in Pak Rupees was made interest-free. 

In 1985 the President of Pakistan Mohammad Zia-ul-Haq introduced an interest-free banking system in Pakistan

Meezan Bank is interest-free in Pakistan.

Explanation

On January 1, 1980, approximately 7,000 interest-free counters were opened at all the nationalized commercial banks, making Pakistan the first country in the Muslim world with Islamic banking.

Explanation

آٹھ ہجری میں سود کی حرمت کا جو حکم ہوا ۔ سود کا مطلب ہے زیادتی

Explanation

Kuwaiti company Noor Financial Investment (subsidiary)

Explanation

State Bank of Pakistan unveiled its third five-year Strategic Plan for the Islamic Banking Industry on April 5, 2021.

The strategic plan has set headline targets for Islamic banking industry to be achieved by 2025.

State Bank of Pakistan commenced operation on July 1, 1948.