A critical account of the Pakistani experiment with Islamic banking. The response to PLS (profit-and-loss sharing) deposit and term accounts by the public. Spectacular growth of PLS deposits between 1981 and 1985. Investment of PLS funds by commercial banks. According to the author, it is...

The main distinction between the predominantly secular-oriented societies from the more Islamically inclined is eschatological. Faith and the ever prevailing consciousness of the Hereafter could change social behaviour. Certainly, the distinctions commonly drawn in Islamic economics literature...