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#Islamic banking Pakistan

2 articles tagged Islamic banking Pakistan.

The Architecture Akhtar Is Asking For: A Response on Money, Riba and Maqasid

Irshad Akhtar asks whether Islamic finance should now examine the monetary architecture its instruments operate within. The answer is yes, and the second phase he proposes need not begin as a blank page: the Qur'an and the classical scholars already gave a theory of money precise enough to design against.

M Azim Abdul Majeed · 2026-10-20

Islamic Finance · 13 min

Variable Profits Are Not Enough: A Response to Miftah Ismail on Islamic Banking

Mr Ismail is right that Pakistan's Islamic banking has become a change of vocabulary more than a change of substance. The harder truth is that reforming the contracts is necessary but not sufficient, because the currency in which they are written is itself born of interest.

M Azim Abdul Majeed · 2026-06-12