Evaluating The Social And Development Oriented Performance of Meezan Bank

Abstract

Islamic banking with its unique feature of profit and loss sharing (PLS) is promoted under the Islamic economic paradigm with a promise to internationalise the aspiration of Muslim around the globe to be authentic and true to their tradition. Consequently, provide the capital base to achieve economic development in the Muslim world with the overall objective of human well being and social justice according to maqâsid al Shari'ah. Our study of Meezan bank in Pakistan shows that only a negligible portion of financing activities of the bank is strictly PLS based. Furthermore, financing across different industries are contributing to financialisation of the economy rather than real economy