{"id":6787,"date":"2024-07-10T07:44:00","date_gmt":"2024-07-10T07:44:00","guid":{"rendered":"https:\/\/al-mawrid.org\/questions-en\/2024\/07\/10\/islamic-banks-in-pakistan\/"},"modified":"2025-11-16T21:49:22","modified_gmt":"2025-11-16T16:49:22","slug":"islamic-banks-in-pakistan","status":"publish","type":"post","link":"https:\/\/al-mawrid.org\/questions-en\/islamic-banks-in-pakistan\/","title":{"rendered":"Islamic Banks In Pakistan"},"content":{"rendered":"<h3>Question<\/h3>\n<p>There  are about six Islamic banks working in Pakistan. Some are Pakistani and  rest are of different Islamic countries like Dubai, Abu Dhabi, Bahrain,  Saudi etc. they tell that their business is looking after by a board of  ulema and their business is all Islamic. They announce their profit  every month.I want to ask whether it is allowed making investments in fixed accounts of these banks. <\/p>\n<h3>Answer<\/h3>\n<p>You  are allowed to invest in a business venture about which your conscience  is clear that it is acceptable to Islamic teachings. Your conscience  can be clear because either you feel confident on account of your  understanding which you have reached directly by reading Qur&#8217;an and  hadith or through a scholar who convinces you that the business  opportunity is halal or you rely on a scholar&#8217;s opinion who says that  the opportunity is halal. The second possibility should only be employed  if you are incapable of reaching a conclusion on the basis of the first  one. <\/p>\n<p>My  understanding is that Islamic banking is only partly acceptable from an  Islamic perspective. This form of banking relies heavily on two  products: leasing and murabaha. While leasing is an Islamically  acceptable mode of financing, we believe, murabaha is not. <\/p>\n<div>The shari&#8217;ah advisers of Islamic banks consider both products Islamically legitimate.<\/div>\n<div>You  should find out why we believe murabaha is unacceptable and why other  scholars believe otherwise. You have a right to accept the point of view  that appears Islamically more valid. If you find yourself unable to  decide, you should decide in favour of the opinion you think is  supported by the scholars you consider more reliable.<\/div>\n<p><strong>Answered by:<\/strong> Dr. Khalid Zaheer<\/p>\n<p><strong>Date:<\/strong> 2015-03-03<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"6787\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorite <i class=\"sf-icon-star-empty\"><\/i><\/button>","protected":false},"excerpt":{"rendered":"<p>There  are about six Islamic banks working in Pakistan. Some are Pakistani and  rest are of different Islamic countries like Dubai, Abu Dhabi, Bahrain,  Saudi etc. they tell that their business is looking after by a board of  ulema and their business is all Islamic. They announce their profit  every month.I want to ask whether it is allowed making investments in fixed accounts of these banks. <\/p>\n","protected":false},"author":7,"featured_media":14147,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1169],"tags":[1562,1172,2035,1458],"class_list":["post-6787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic-issues","tag-banking","tag-islamic-banks","tag-profit","tag-saving-money"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Islamic Banks In Pakistan - Al-Mawrid Queries<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/al-mawrid.org\/questions-en\/islamic-banks-in-pakistan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Islamic Banks In Pakistan - Al-Mawrid Queries\" \/>\n<meta property=\"og:description\" content=\"There are about six Islamic banks working in Pakistan. Some are Pakistani and rest are of different Islamic countries like Dubai, Abu Dhabi, Bahrain, Saudi etc. they tell that their business is looking after by a board of ulema and their business is all Islamic. They announce their profit every month.I want to ask whether it is allowed making investments in fixed accounts of these banks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/al-mawrid.org\/questions-en\/islamic-banks-in-pakistan\/\" \/>\n<meta property=\"og:site_name\" content=\"Al-Mawrid Queries\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/almawridofficial\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-10T07:44:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-16T16:49:22+00:00\" \/>\n<meta name=\"author\" content=\"Khalid Zaheer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AlMawridOffice\" \/>\n<meta name=\"twitter:site\" content=\"@AlMawridOffice\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Khalid Zaheer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/islamic-banks-in-pakistan\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/islamic-banks-in-pakistan\\\/\"},\"author\":{\"name\":\"Khalid Zaheer\",\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/#\\\/schema\\\/person\\\/627b1d2f160f8650034517f6dbc773d5\"},\"headline\":\"Islamic Banks In Pakistan\",\"datePublished\":\"2024-07-10T07:44:00+00:00\",\"dateModified\":\"2025-11-16T16:49:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/islamic-banks-in-pakistan\\\/\"},\"wordCount\":288,\"publisher\":{\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/islamic-banks-in-pakistan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/al-mawrid.org\\\/questions-en\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/Queries.png?fit=800%2C450&ssl=1\",\"keywords\":[\"banking\",\"islamic banks\",\"profit\",\"saving money\"],\"articleSection\":[\"Economic Issues\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/islamic-banks-in-pakistan\\\/\",\"url\":\"https:\\\/\\\/al-mawrid.org\\\/questions-en\\\/islamic-banks-in-pakistan\\\/\",\"name\":\"Islamic Banks In Pakistan - 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He has a Ph.D. from the University of Wales. His Ph.D. thesis was a critique on Islamic Banking. Dr Kahlid also had an intensive formal religious education in Islam. He studied Quran from Dr. Israr Ahmed, Mawlana Amin Ahsan Islahi, and Javed Ahmed Ghamdi. He also went through a formal two years course on Arabic and Islamic learning from Al-Mawrid, in 1983-84. Dr. Khalid Zaheer has a deep and incisive understanding of the very relevant issue of Islam and modernity and has taught courses on Islamic ethics, traditions and economics etc. at various top national institutions, including the Aga Khan University, Lahore University of Management Sciences (LUMS), University of Central Punjab, Hailey College of Commerce, information Technology University, and Institute of Art and Culture. Dr Khalid Zaheer has also delivered various lectures on Islam in UK, Canada, Australia, Malaysia, Japan and many prestigious institutions of Pakistan. 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He has a Ph.D. from the University of Wales. His Ph.D. thesis was a critique on Islamic Banking. Dr Kahlid also had an intensive formal religious education in Islam. He studied Quran from Dr. Israr Ahmed, Mawlana Amin Ahsan Islahi, and Javed Ahmed Ghamdi. He also went through a formal two years course on Arabic and Islamic learning from Al-Mawrid, in 1983-84. Dr. Khalid Zaheer has a deep and incisive understanding of the very relevant issue of Islam and modernity and has taught courses on Islamic ethics, traditions and economics etc. at various top national institutions, including the Aga Khan University, Lahore University of Management Sciences (LUMS), University of Central Punjab, Hailey College of Commerce, information Technology University, and Institute of Art and Culture. Dr Khalid Zaheer has also delivered various lectures on Islam in UK, Canada, Australia, Malaysia, Japan and many prestigious institutions of Pakistan. Including Civil Services Academy, Administrative Staff College and PAF War College.","sameAs":["https:\/\/khalidzaheer.com"],"url":"https:\/\/al-mawrid.org\/questions-en\/author\/kzaheer\/"}]}},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":6839,"url":"https:\/\/al-mawrid.org\/questions-en\/investment-in-the-so-called-islamic-banks\/","url_meta":{"origin":6787,"position":0},"title":"Investment In The So-called Islamic Banks","author":"Khalid Zaheer","date":"July 10, 2024","format":false,"excerpt":"I have fifty million rupees deposited in Meezan Bank for seven years. My questions to Mr Javeed Ahmed Ghamidi follow:a. Is this bank really working as per Shar\u012b\u2018ah? They do not give fixed profit and claim that they do not invest our money in un-Islamic trades. b. Do I have\u2026","rel":"","context":"In &quot;Economic Issues&quot;","block_context":{"text":"Economic Issues","link":"https:\/\/al-mawrid.org\/questions-en\/category\/economic-issues\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":5818,"url":"https:\/\/al-mawrid.org\/questions-en\/further-discussion-on-investiment-in-the-so-called-islamic-banks\/","url_meta":{"origin":6787,"position":1},"title":"Further Discussion On Investiment In The So-called Islamic Banks","author":"Khalid Zaheer","date":"July 10, 2024","format":false,"excerpt":"Dear brother, your answer[1] is not very clear. Firstly if Islamic Banks like Meezan are not fully Islamic then what is the fun of keeping money in them? You say leasing is acceptable and murabahah is not. Then how do we know that our money has been used in leasing\u2026","rel":"","context":"In &quot;Economic Issues&quot;","block_context":{"text":"Economic Issues","link":"https:\/\/al-mawrid.org\/questions-en\/category\/economic-issues\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":6314,"url":"https:\/\/al-mawrid.org\/questions-en\/islamic-banking-in-uk\/","url_meta":{"origin":6787,"position":2},"title":"Islamic Banking In UK","author":"admin","date":"July 10, 2024","format":false,"excerpt":"I want to bring into your attention a major issue which is related to Islamic banking in UK. A number of Muslim families in west take mortgages (loan) to purchase houses, where the bank charges interest (riba) on the loan. Recently, there are few banks such as HSBC and Islamic\u2026","rel":"","context":"In &quot;Economic Issues&quot;","block_context":{"text":"Economic Issues","link":"https:\/\/al-mawrid.org\/questions-en\/category\/economic-issues\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":6886,"url":"https:\/\/al-mawrid.org\/questions-en\/status-of-the-current-forms-of-islamic-banking\/","url_meta":{"origin":6787,"position":3},"title":"Status Of The Current Forms Of Islamic Banking","author":"Khalid Zaheer","date":"July 10, 2024","format":false,"excerpt":"I am not clear about the concept of Islamic banking introduced in Pakistan. From what I have studied, it looks to me that the new system is actually not Islamic. They are just using the Islamic\/Arabic terminology to mislead people and have also introduced lengthy paper work to make all\u2026","rel":"","context":"In &quot;Economic Issues&quot;","block_context":{"text":"Economic Issues","link":"https:\/\/al-mawrid.org\/questions-en\/category\/economic-issues\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":6364,"url":"https:\/\/al-mawrid.org\/questions-en\/accountancy-and-interest\/","url_meta":{"origin":6787,"position":4},"title":"Accountancy And Interest","author":"admin","date":"July 10, 2024","format":false,"excerpt":"I am a qualified accountant in London. Being an accountant some way or the other you have to do bookkeeping for interest accounts or other accounts which have an interest element in them. There is hardly any institution here which is 100% free from interest or interest related accounts even\u2026","rel":"","context":"In &quot;Economic Issues&quot;","block_context":{"text":"Economic Issues","link":"https:\/\/al-mawrid.org\/questions-en\/category\/economic-issues\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":5842,"url":"https:\/\/al-mawrid.org\/questions-en\/islamic-perspective-on-state-control-over-national-economy\/","url_meta":{"origin":6787,"position":5},"title":"Islamic Perspective On State Control Over National Economy","author":"admin","date":"July 10, 2024","format":false,"excerpt":"Asalam-o-Alaikum'Credit finance consumption based growth is always a recipe for disaster'. This is the conclusion of Dr. Pervaiz Tahir in his article, \"The great American Robbery\" published in Dawn newspaper. It was corruption driven by pure greed. Wasn't it? Now what we are seeing is that the free market economy\u2026","rel":"","context":"In &quot;Economic Issues&quot;","block_context":{"text":"Economic Issues","link":"https:\/\/al-mawrid.org\/questions-en\/category\/economic-issues\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/al-mawrid.org\/questions-en\/wp-content\/uploads\/2025\/03\/Queries.png?fit=800%2C450&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/pgh6ci-1Lt","_links":{"self":[{"href":"https:\/\/al-mawrid.org\/questions-en\/wp-json\/wp\/v2\/posts\/6787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/al-mawrid.org\/questions-en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/al-mawrid.org\/questions-en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/al-mawrid.org\/questions-en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/al-mawrid.org\/questions-en\/wp-json\/wp\/v2\/comments?post=6787"}],"version-history":[{"count":0,"href":"https:\/\/al-mawrid.org\/questions-en\/wp-json\/wp\/v2\/posts\/6787\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/al-mawrid.org\/questions-en\/wp-json\/wp\/v2\/media\/14147"}],"wp:attachment":[{"href":"https:\/\/al-mawrid.org\/questions-en\/wp-json\/wp\/v2\/media?parent=6787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/al-mawrid.org\/questions-en\/wp-json\/wp\/v2\/categories?post=6787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/al-mawrid.org\/questions-en\/wp-json\/wp\/v2\/tags?post=6787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}