At pakistan’s leading Islamic bank, management have objection own bearded people wearing loose fit (shalwar kameez), keeping trousers above knee. Women are dressing the way no one can claim shariah.
At annual gathering of the same bank, a senior management employee was lamenting at conventional banking with furor. Though he is at this bank after retiring from top pakistani commercial bank of Mansha Group enjoying lucrative job.
Go through the deposit & loan rates of these banks, they will charge you extra on loans & pay lesser on your deposits. Get a home loan & one will come to know that they will have to pay twice than conventional (check website for personal loans particularly).
When the stock market crashed in 2008. One of the islamic bank’s investment company’s (also maintaining stock index) representative claimed superior performance of islamic investment (like Musharaf’s moderate islam ideology)to offering higher returns with low risk after stock turned back on track in 2009. Though everybody knows how stocks are maneuvered here.
I can not get it why their calculations use conventional systems’ statistics.