In Pakistan, an Islamic loan in 2024 aims to offer a halal financing solution to Pakistani Muslims and non-Muslims living in Pakistan who wish in the context of Islamic sharia to use Islamic financial products.
In Pakistan, the Islamic loan is popular thanks to the loacl Islamic financial sector that is one of the fastest growing sectors and accounts for 6 billion US dollars, or 7.2% of the shares of the national banking system, and will reach 12% of the system in the next three years.
In Pakistan, the islamic mortgage or halal housing finance is huge potential for the country and works through the Diminishing Musharaka where the future home owner participates with the Islamic lender in joint ownership of the property with the result that the agreement consists of a co-ownership and not a loan.
In Pakistan, the Islamic loan in 2024 is accessible thanks to Islamic Pakistani banks that are serving more than 500,000 customers, and this number continues to increase with the country's population growth and it took time and hard work to convince Pakistani customers of the reliability of the system.
In pakistan, Islamic Finance is essential as the country has 75% of Muslims, making Islam the country's predominantly majority religion and the country has 6 fully operational Islamic banks.
PAKISTAN'S ISLAMIC MORTGAGE LENDERS
PAKISTAN ONLINE SHARIA BANK
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