It is frequently asked whether the modern economy can function without interest. This question has acquired some urgency in wake of the recent ruling of Supreme Court banning interest in Pakistan. In this respect every expert has his own opinion. Some pronounced that great harm will result from...

Rural poverty remains a serious problem in Pakistan, with more than 30 percent of rural population living in absolute poverty. In rural Pakistan there is a big gap between rich and the poor. While the stake of competition for position and status concerns the rich, the struggle for survival in...

This is a consensus among the experts that ruling of Supreme Court banning interest has an impact on the financing environment. It is perceived that this ruling will reduce the efficiency of the financial market, specifically has a negative impact on the borrowing of small traders and farmers....