Emergance of Islamic Banking
 

Islam means obedience and a Muslim is one who obey the orders of Almighty Allah and his Prophet.Islam is complete code of life and gives subject matter of all things which are related to human conduct.Islam teaches us all the subjects of mankind like ethics,economics,politics,astronomy,trade and commerce etc.So it is moral duty of Muslims to go through the teachings of Islam and our Holy Prophet Hazarat Muhammed (p.b.u.h).Islam has prohibited us from many aspects and activities of life which directly or indirectly effects the nature of mankind and leave some negative effects,and interest is one of them.As Allah says in Holy quran in Surah-Baqrah verse no 275,"we have prohibited interest and permitted trade" and "deal not unjustly".

Interest is not only prohibited by Islam but also prohibited by all other major religions of the world like christanity,judiasim,confuciasim etc.

Concept of Islamic banking was started in 1965 but in origional point of view it was started in 1975 with total Islamic banks of 5,no of branches increased up to 25 and its no was once again increased to satisfactory level upto 75 in 89 and currently ALHAMLILAH its no is 265.

(To be continue . . .)