Pakistan emerged with the objective to prosper as an Islamic nation by following divine code of guidance from Allah and his Prophet Muhammad (PBUH) in Quran and Sunnah. However, in the beginning of materialization the domino effect of society’s Islamic conviction were merely appreciated in their culture, rituals and way of living but little or no influence of society celestial beliefs are evidence in commerce and financial sectors of the country. Nowadays, our banking and financial systems are gradually moving towards Islamic procedures from conventional one. For instance large portion of our financial sector comprises of Islamic banks and institutions.…
