Does Islamic Banking System Contributes to Economy Development

M. Saleh Sarwer; Waqar Ahmad

Does Islamic Banking System Contributes to Economy Development

M. Saleh Sarwer * §

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Waqar Ahmad

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§ The Superior Group Of Colleges Lahore

Does Islamic Banking System Contributes to Economy Development

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Abstract

The purpose of this paper is to give the true meaning of development from an Islamic perspective. This paper examines the dynamic interactions between Islamic banking and economic growth in Pakistan, to see if the financial system affects and growth, transformation and growth of the financial system. Usually, in most Muslim countries, and in some non-Muslim countries, Islamic banking and works as a part of the banking system and the Islamic Republic of Pakistan is one of them. The aim of this paper was to consider the opinions of the interviewees regarding the role of Islamic banking in Pakistan in economic development. Six interviewees were asked about the types of effects of Islamic banking on economic development in the Pakistan. They were asked about 8 different types of effects. Most respondents believe that Islamic banking in Pakistan had positive impact on economic development. Some scholars around the world consider the use of Islamic banking more convenient for economic development. This result also indicates that improving the infrastructure of Islamic finance in Pakistan could benefit economic development. Islamic banks can play an important role in Pakistan today.

References

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

M. Saleh Sarwer, Waqar Ahmad. 1970. "Does Islamic Banking System Contributes to Economy Development". Global Journal of Management and Business Research GJMBR Volume 13 (GJMBR Volume 13 Issue 2).

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GJMBR Volume 13 Issue 2

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

economic development Islamic Banking Pakistan

Classification

GJMBR Classification JEL Code: 150202

Submission ReceivedDecember 22, 2012
Peer Review Double Blind
Handling Editor
Accepted January 14, 2013
Published January 24, 2013

Version of record

v1.2

Language

English

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Article Matrices

Total Score: 155

Country: Pakistan

Subject: Global Journal of Management and Business Research

Authors: M. Saleh Sarwer , Prof. Dr. Muhammad Ramzan, Waqar Ahmad (PhD/Dr. count: 1)

View Count (all-time): 302

Total Views (Real + Logic): 7424

Total Downloads (simulated): 495

Publish Date: 2013 01, Thu

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Total Views: 7.4K

Total Downloads: 495

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