By Faiz M.Shaikh, Munawwar Ali Kartio, Nisar Ahmed Pahore & Saeed Ahmed Buriro
Abstract
The current research explores the historical perspective of Islamic banking. The data were collected from the various secondary sources, Annual reports of Islamic Banking system and news bulletin related to the history of Islamic banking. It was revealed that Islamic banking operation started from the Egypt. It was further revealed that the form of a saving bank based on profit-sharing in the town of Mit Ghamr, lasted until 1967, by which time there were nine such banks in the country. Islamic banks are not invested in trade and neither paid interest nor directly involves in Partnership with others, and shared profits with depositors.
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