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Islamic economics in Pakistan, the Glossary

Index Islamic economics in Pakistan

The economic policies proposed under the banner of "Islamisation" in Pakistan include executive decrees on Zakāt (poor-due), Ushr (tithe), judicial changes that helped to halt land redistribution to the poor, and perhaps most importantly, elimination of riba (defined by activists as interest charged on loans and securities).[1]

Table of Contents

  1. 80 relations: Abul A'la Maududi, Al Baraka Banking Group, All-India Muslim League, Ayub Khan, Balochistan, Pakistan, Basel Accords, Benazir Bhutto, Central bank, Council of Islamic Ideology, Economic history of Pakistan, Economic liberalisation in Pakistan, Fatwa, Federal Shariat Court, Foreign workers in Saudi Arabia, Hadith, Hajj, History of Islamic economics, History of the Islamic Republic of Iran, Hypothesis, Inflation, Iranian Revolution, Ishrat Hussain, Islamic banking and finance, Islamic modernism, Islamization in Pakistan, Jamaat-e-Islami (Pakistan), Khurshid Ahmad (scholar), Khyber Pakhtunkhwa, Land reform, Law, Liquidity crisis, List of governors of the State Bank of Pakistan, Medina, Meezan Bank, Mohammad Reza Pahlavi, Muhammad, Muhammad Iqbal, Muhammad Khan Junejo, Muhammad Zia-ul-Haq, Murabaha, Muslim world, Nationalization, Nawaz Sharif, Objectives Resolution, Pakistan National Alliance, Pakistan People's Party, Pakistan Television Corporation, Pakistan–Saudi Arabia relations, Pakistani rupee, Parliament of Pakistan, ... Expand index (30 more) »

  2. Conservatism in Pakistan
  3. Economic history of Pakistan
  4. Islamic banking
  5. Islamic economics
  6. Islamism in Pakistan
  7. Islamization
  8. Law of Pakistan

Abul A'la Maududi

Abul A'la al-Maududi (ابو الاعلی المودودی|translit.

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Al Baraka Banking Group

Al Baraka Group B.S.C. ("ABG" / the “Group”) is licensed as an Investment Business Firm – Category 1 (Islamic Principles) by the Central Bank of Bahrain and is listed on Bahrain Bourse.

See Islamic economics in Pakistan and Al Baraka Banking Group

All-India Muslim League

The All-India Muslim League (AIML), simply called the Muslim League, was a political party established in Dhaka in 1906 when some well-known Muslim politicians met the Viceroy of India, Lord Minto, with the goal of securing Muslim interests in British India.

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Ayub Khan

Muhammad Ayub Khan (14 May 190719 April 1974), better known as Ayub Khan, was a Pakistani military officer who served as the second president of Pakistan from 1958 to 1969.

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Balochistan, Pakistan

Balochistan (بلۏچستان; بلوچستان) is a province of Pakistan.

See Islamic economics in Pakistan and Balochistan, Pakistan

Basel Accords

The Basel Accords refer to the banking supervision accords (recommendations on banking regulations) issued by the Basel Committee on Banking Supervision (BCBS).

See Islamic economics in Pakistan and Basel Accords

Benazir Bhutto

Benazir Bhutto (21 June 1953 – 27 December 2007) was a Pakistani politician and stateswoman who served as the 11th and 13th prime minister of Pakistan from 1988 to 1990 and again from 1993 to 1996.

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Central bank

A central bank, reserve bank, national bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union.

See Islamic economics in Pakistan and Central bank

Council of Islamic Ideology

Council of Islamic Ideology (CII; (اِسلامی نظریاتی کونسل) is a constitutional body of Pakistan, responsible for giving legal advice on Islamic issues to the government and the Parliament. This body was founded in 1962 under the government of Ayub Khan. Islamic economics in Pakistan and Council of Islamic Ideology are Conservatism in Pakistan.

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Economic history of Pakistan

Since independence in 1947, the economy of Pakistan has emerged as a semi-industrialized one, the on textiles, agriculture, and food production, though recent years have seen a push towards technological diversification.

See Islamic economics in Pakistan and Economic history of Pakistan

Economic liberalisation in Pakistan

Pakistan began a period of economic liberalisation in the 1990s to promote and accelerate economic independence, development, and GDP growth. Islamic economics in Pakistan and economic liberalisation in Pakistan are economic history of Pakistan.

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Fatwa

A fatwa (translit; label) is a legal ruling on a point of Islamic law (sharia) given by a qualified Islamic jurist (faqih) in response to a question posed by a private individual, judge or government.

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Federal Shariat Court

The Federal Shariat Court (FSC) is a constitutional islamic religious court of the Islamic Republic of Pakistan, which has the power to examine and determine whether the laws of the country comply with Sharia law. Islamic economics in Pakistan and Federal Shariat Court are Islamization.

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Foreign workers in Saudi Arabia

Foreign workers in Saudi Arabia, estimated to number about 9 million as of April 2013, began migrating to the country soon after oil was discovered in the late 1930s.

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Hadith

Hadith (translit) or Athar (أثر) is a form of Islamic oral tradition containing the purported words, actions, and the silent approvals of the prophet Muhammad.

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Hajj

Hajj (translit; also spelled Hadj, Haj or Haji) is an annual Islamic pilgrimage to Mecca, Saudi Arabia, the holiest city for Muslims.

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History of Islamic economics

Between the 9th and 14th centuries, the Muslim world developed many advanced economic concepts, techniques and usages. Islamic economics in Pakistan and History of Islamic economics are islamic economics.

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History of the Islamic Republic of Iran

One of the most dramatic changes in government in Iran's history was seen with the 1979 Iranian Revolution where Shah Mohammad Reza Pahlavi was overthrown and replaced by Ayatollah Ruhollah Khomeini.

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Hypothesis

A hypothesis (hypotheses) is a proposed explanation for a phenomenon.

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Inflation

In economics, inflation is a general increase in the prices of goods and services in an economy.

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Iranian Revolution

The Iranian Revolution (انقلاب ایران), also known as the 1979 Revolution and the Islamic Revolution (label), was a series of events that culminated in the overthrow of the Pahlavi dynasty in 1979. The revolution led to the replacement of the Imperial State of Iran by the present-day Islamic Republic of Iran, as the monarchical government of Mohammad Reza Pahlavi was superseded by the theocratic Ayatollah Ruhollah Khomeini, a religious cleric who had headed one of the rebel factions.

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Ishrat Hussain

Ishrat Husain is a Pakistani banker and economist who served as the dean of the Institute of Business Administration (2008-2016) and the Governor of the State Bank of Pakistan (1999-2006).

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Islamic banking and finance

Islamic banking, Islamic finance (مصرفية إسلامية masrifiyya 'islamia), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Islamic economics in Pakistan and Islamic banking and finance are islamic banking and islamic economics.

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Islamic modernism

Islamic modernism is a movement that has been described as "the first Muslim ideological response to the Western cultural challenge," attempting to reconcile the Islamic faith with values percieved as modern such as democracy, civil rights, rationality, equality, and progress.

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Islamization in Pakistan

Islamization (اسلامی حکمرانی.) or Shariazation, has a long history in Pakistan since the 1950s, but it became the primary policy, or "centerpiece" of the government of General Muhammad Zia-ul-Haq, the ruler of Pakistan from 1977 until his death in 1988. Islamic economics in Pakistan and Islamization in Pakistan are Conservatism in Pakistan, Islamism in Pakistan, Islamization, law of Pakistan and military government of Pakistan (1977–1988).

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Jamaat-e-Islami (Pakistan)

Jamaat-e-Islami (Urdu:, English: Islamic Party; abbreviated JI), or Jamaat as it is commonly known, is an Islamist political party based in Pakistan and founded by Abul Ala Maududi.

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Khurshid Ahmad (scholar)

Khurshīd Ahmad (خورشید احمد; born 23 March 1932), is a Pakistani economist, philosopher, politician, and an Islamic activist who helped to develop Islamic economic jurisprudence as an academic discipline and one of the co-founders (along with Khurram Murad) of The Islamic Foundation in Leicester, UK.

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Khyber Pakhtunkhwa

Khyber Pakhtunkhwa (خېبر پښتونخوا; Hindko and,; abbr. KP), formerly known as North West Frontier Province (NWFP), is a province of Pakistan.

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Land reform

Land reform is a form of agrarian reform involving the changing of laws, regulations, or customs regarding land ownership.

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Law

Law is a set of rules that are created and are enforceable by social or governmental institutions to regulate behavior, with its precise definition a matter of longstanding debate.

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Liquidity crisis

In financial economics, a liquidity crisis is an acute shortage of liquidity.

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List of governors of the State Bank of Pakistan

Here is a list of the governors of the State Bank of Pakistan.

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Medina

Medina, officially Al-Madinah al-Munawwarah and also commonly simplified as Madīnah or Madinah, is the capital of Medina Province in the Hejaz region of western Saudi Arabia.

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Meezan Bank

Meezan Bank Limited (میزان بینک.) is a Pakistani Islamic bank which is based in Karachi, Sindh.

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Mohammad Reza Pahlavi

Mohammed Reza Pahlavi (26 October 1919 – 27 July 1980), commonly referred to in the Western world as Mohammad Reza Shah, or just simply The Shah, was the last monarch of Iran.

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Muhammad

Muhammad (570 – 8 June 632 CE) was an Arab religious, social, and political leader and the founder of Islam.

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Muhammad Iqbal

Sir Muhammad Iqbal (9 November 187721 April 1938) was a South Asian Islamic philosopher, poet and politician.

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Muhammad Khan Junejo

Mohammad Khan Junejo (18 August 1932 18 March 1993) was a Pakistani politician and statesman who served as the tenth Prime Minister of Pakistan from 1985 to 1988 under president Muhammad Zia-ul-Haq. Islamic economics in Pakistan and Muhammad Khan Junejo are military government of Pakistan (1977–1988).

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Muhammad Zia-ul-Haq

Muhammad Zia-ul-Haq (12 August 192417 August 1988) was a Pakistani military officer who served as the sixth president of Pakistan from 1978 until his death. Islamic economics in Pakistan and Muhammad Zia-ul-Haq are military government of Pakistan (1977–1988).

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Murabaha

Murabaḥah, murabaḥa, or murâbaḥah (مرابحة, derived from ribh ربح, meaning profit) was originally a term of fiqh (Islamic jurisprudence) for a sales contract where the buyer and seller agree on the markup (profit) or "cost-plus" price for the item(s) being sold. Islamic economics in Pakistan and Murabaha are islamic banking.

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Muslim world

The terms Muslim world and Islamic world commonly refer to the Islamic community, which is also known as the Ummah.

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Nationalization

Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state.

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Nawaz Sharif

Mian Muhammad Nawaz Sharif (Urdu:; born 25 December 1949) is a Pakistani businessman and politician who served as the Prime Minister of Pakistan for three non-consecutive terms.

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Objectives Resolution

The Objectives Resolution (قرارداد مَقاصِد) was adopted by the Constituent Assembly of Pakistan on March 12, 1949.

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Pakistan National Alliance

The Pakistan National Alliance (Urdu: پاکستان قومی اتحاد, Acronym: PNA), was a populist and consolidated right and left political alliance, consisting of nine political parties of the country.

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Pakistan People's Party

The Pakistan People's Party (پاکستان پیپلز پارٹی,; PPP) is a centre-left political party in Pakistan.

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Pakistan Television Corporation

Pakistan Television Corporation (پاکستان ٹیلی وژن نیٹ ورک; reporting name: PTV) is the Pakistani state-owned broadcaster founded by the Government of Pakistan, operating under the Ministry of Information and Broadcasting.

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Pakistan–Saudi Arabia relations

Pakistan and Saudi Arabia established relations in 1947, when Pakistan became independent from British rule.

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Pakistani rupee

The Pakistani rupee (ISO code: PKR) is the official currency in the Islamic Republic of Pakistan.

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Parliament of Pakistan

The Parliament of Pakistan (مجلسِ شوریٰ پاکستان,, "Pakistan Advisory Council" or "Pakistan Consultative Assembly") is the supreme legislative body of the Islamic Republic of Pakistan. Islamic economics in Pakistan and Parliament of Pakistan are law of Pakistan.

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Pervez Musharraf

Pervez Musharraf (11 August 1943 – 5 February 2023) was a Pakistani military officer and politician who served as the tenth president of Pakistan from 2001 to 2008.

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Peshawar High Court

The Peshawar High Court (PHC, عدالتِ عالیہ پشاور) is the provincial and highest judicial institution of Khyber Pakhtunkhwa in Pakistan.

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Privatisation in Pakistan

The privatisation process in Pakistan, sometimes referred to as denationalisation programme or simply the privatisation in Pakistan) is a continuous policy measure program in the economic period of Pakistan. It was first conceived and implemented by the then-people-elected Prime Minister Nawaz Sharif and the Pakistan Muslim League, in an attempt to enable the nationalised industries towards market economy, immediately after the economic collapse of the Soviet Union in 1989–90. Islamic economics in Pakistan and privatisation in Pakistan are economic history of Pakistan.

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Profit and loss sharing

Profit and Loss Sharing (also called PLS or participatory banking) refers to Sharia-compliant forms of equity financing such as mudarabah and musharakah. Islamic economics in Pakistan and Profit and loss sharing are islamic banking.

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Ramadan

Ramadan (Ramaḍān; also spelled Ramazan, Ramzan, Ramadhan, or Ramathan) is the ninth month of the Islamic calendar, observed by Muslims worldwide as a month of fasting (sawm), prayer (salah), reflection, and community.

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Rate of profit

In economics and finance, the profit rate is the relative profitability of an investment project, a capitalist enterprise or a whole capitalist economy.

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Redistribution of income and wealth

Redistribution of income and wealth is the transfer of income and wealth (including physical property) from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law.

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Riba

Riba (ربا,الربا، الربٰوة, or) is an Arabic word used in Islamic law and roughly translated as "usury": unjust, exploitative gains made in trade or business. Islamic economics in Pakistan and Riba are islamic banking.

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Salah

Salah is the principal form of worship in Islam.

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Saudi Arabia

Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in West Asia and the Middle East.

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Secularity

Secularity, also the secular or secularness (from Latin saeculum, "worldly" or "of a generation"), is the state of being unrelated or neutral in regards to religion.

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Sharia

Sharia (sharīʿah) is a body of religious law that forms a part of the Islamic tradition based on scriptures of Islam, particularly the Quran and hadith.

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Sharia Board

A Sharia Board (also Sharia Supervisory Board, Advisory Board or Religious Board) certifies Islamic financial products as being Sharia-compliant (i.e. in accordance with Islamic law). Islamic economics in Pakistan and Sharia Board are islamic economics.

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Shia Islam

Shia Islam is the second-largest branch of Islam.

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Sindh High Court

The High Court of Sindh (عدالتِ عالیہ سندھ) (Sindhi: سنڌ ھائي ڪورٽ) is the highest judicial institution of the Pakistani province of Sindh.

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Stagflation

In economics, stagflation (or recession-inflation) is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high.

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State Bank of Pakistan

The State Bank of Pakistan (SBP) (اسٹیٹ بینک پاکستان.) is the central bank of Pakistan.

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Sunnah

In Islam,, also spelled (سنة), is the traditions and practices of the Islamic prophet Muhammad that constitute a model for Muslims to follow.

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Supreme Court of Pakistan

The Supreme Court of Pakistan (عدالتِ عظمیٰ پاکستان; Adālat-e-Uzma Pākistān) is the apex court in the judicial hierarchy of the Islamic Republic of Pakistan. Islamic economics in Pakistan and Supreme Court of Pakistan are law of Pakistan.

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Tanzil-ur-Rahman

Tanzil-ur-Rahman, TI, (born 1928) is a Pakistani jurist and scholar of Islamic studies.

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Tithe

A tithe (from Old English: teogoþa "tenth") is a one-tenth part of something, paid as a contribution to a religious organization or compulsory tax to government.

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Ulama

In Islam, the ulama (the learned ones; singular ʿālim; feminine singular alimah; plural aalimath), also spelled ulema, are scholars of Islamic doctrine and law.

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Usury

Usury is the practice of making loans that are seen as unfairly enriching the lender.

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Wahhabism

Wahhabism (translit) is a reformist religious movement within Sunni Islam, based on the teachings of 18th-century Hanbali cleric Muhammad ibn 'Abd al-Wahhab.

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Waqf

A (وَقْف;, plural), also called a (plural حُبوس or أَحْباس), or mortmain property, is an inalienable charitable endowment under Islamic law.

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Western world

The Western world, also known as the West, primarily refers to various nations and states in the regions of Australasia, Western Europe, and Northern America; with some debate as to whether those in Eastern Europe and Latin America also constitute the West.

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Zakat

Zakat (or Zakāh) is one of the five pillars of Islam.

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Zakat Council

Zakat Councils are responsible for collecting and distributing the Islamic taxes known as Zakat and Ushr in Pakistan.

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Zulfikar Ali Bhutto

Zulfikar Ali Bhutto (5 January 1928 – 4 April 1979) was a Pakistani barrister, politician, and statesman.

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1984 Pakistani Islamisation programme referendum

A referendum on the Islamisation policy of President Muhammad Zia-ul-Haq was held in Pakistan on 19 December 1984. Islamic economics in Pakistan and 1984 Pakistani Islamisation programme referendum are Islamism in Pakistan and military government of Pakistan (1977–1988).

See Islamic economics in Pakistan and 1984 Pakistani Islamisation programme referendum

See also

Conservatism in Pakistan

Economic history of Pakistan

Islamic banking

Islamic economics

Islamism in Pakistan

Islamization

Law of Pakistan

References

[1] https://en.wikipedia.org/wiki/Islamic_economics_in_Pakistan

Also known as Economic Islamization in Pakistan, Islamisation of the economy in Pakistan, Islamization of Economy.

, Pervez Musharraf, Peshawar High Court, Privatisation in Pakistan, Profit and loss sharing, Ramadan, Rate of profit, Redistribution of income and wealth, Riba, Salah, Saudi Arabia, Secularity, Sharia, Sharia Board, Shia Islam, Sindh High Court, Stagflation, State Bank of Pakistan, Sunnah, Supreme Court of Pakistan, Tanzil-ur-Rahman, Tithe, Ulama, Usury, Wahhabism, Waqf, Western world, Zakat, Zakat Council, Zulfikar Ali Bhutto, 1984 Pakistani Islamisation programme referendum.