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Transcript of Islamic Banking
2. Presented by
- Junaid Zamir
3. What is Islamic Banking
- It is based on the Islamic economicsystem.
- It is not restricted to Muslims only.
- There are more than 300 Islamic Financial Institutions in the world.
4. When it Came into Being
- The Islamic Summit of Lahore, Pakistan held in 1974 recommended the creation of Islamic Banks and Islamic Development Bank.
- On 14 Ramadan 1420, the Shariah Bench of the Supreme Court of Pakistan gave its landmark decision banning interest in all its forms and by whatever name it may be called.
5. When it Came into Being
- After 55 years after its creation in the name of Islam, Pakistan became the first Muslim country to officially declare modern bank interest as a r-riba , declared haram by Qur'an
- The court also specified a step by step approach to rid the country of the evil of interest
6. How it is Different ?
- Islamic Orders not to use Money as a commodity.
- They operate under the concept of lender-borrower relationship and the profits generated through this relationship are divided between the two parties as per agreement.
7. How does it works ?
- The bank entirely depends upon the fixed deposits and does not borrows money from the central bank.
- Bank gives loan on basis of mutual agreement.
- Marjorly focuses on sales transaction.
8. 9. About Meezan Bank At Meezan Bank we are committed to providing you a complete range of Shariah compliant banking services that are up to the highest professional standards. To maintain absolute world class service excellence, with a dedicated focus on value and recognition for our customers. 10. Vision
- Our Vision
- Establish Islamic banking as banking of first choice to facilitate the implementation of an equitable economic system, providing a strong foundation for establishing a fair and just society for mankind.
- To be a premier Islamic bank, offering a one-stop shop for innovative value added products and services to our customers within the bounds of Shariah, while optimizing the stakeholders value through an organizational culture based on learning, fairness, respect for individual enterprise and performance.
12. Our Services
- Personal Banking and Finance
- Commercial Finance
- Car Ijarah - Car Financing
- Easy Home - Home Financing
- Asset Management
13. Current Analysis 14. Profit and Loss 15. Assets 16. Deposits 17. Target Market
- Entire World
- Islamic banking is for people of the world not just for people in Muslim countries.
- Commercial Banks (non-islamic banks)
- Dubai Islamic
- Bank Al-Islami
- Replace conventional Banking system with Islamic banking System.
- Expand their Branch Network.
- (currently having 100 Branches in Pakistan)
20. Probelms of Islamic banking
- A major problem is lack of awareness of Islamic banking among people.
- Thank You
- Any Questions!