پاکستانی سودی بینکوں کی شاخوں کا اسلامی بینکوں میں منتقلی کے طرق کاشرعی جائزہ

A Sharῑ‘ah Study of Various Practical Conversion Methods Adopted by Pakistani Banks

Abstract

The recent success and growth of Islamic banking system in Pakistan compelled so many organizations offering conventional banking to convert into Islamic banking market. State bank of Pakistan as a regulator has permitted conventional banks to convert into Islamic banking market by adopting different methods. One of them is conversion of Conventional Banking Branches (CBB’s) into Islamic Banking Branches (IBB’s). The methods were first adopted by The Bank of Khyber in 2003-04. After that other banks also followed the same step by converting their existing conventional branches into Islamic banking branches. In this paper different methods adopted by various banks are discussed in detail. Guidelines issued by SBP are also elaborated. Further, the Sharῑ‘ah principles and guidelines for each method is deliberated in detail. It is observed that even though conversion is very beneficial for Islamic banking industry, the relevant Islamic principles for each method shall be adhered strictly to make it acceptable under sharῑ’ah law.