Islamic Banking in Iran and Pakistan: A Comparative Study *‪.‬

In recent years, several Muslim countries have made ambitious attempts to practise Islamic banking. Iran and Pakistan appear to be particularly active in transforming their banking and financial sectors completely in line with the dictates of shariah [Naqvi (1981)]. The present study aims to contribute to the understanding of the process of Islamisation of banking in these countries. This kind of understanding, it is believed, is important for policy-makers guiding the Islamisation process anywhere in the world. The study tracks, over a period of a decade, the routes Iran and Pakistan have taken to attain their avowed objective, and focusses on the common concerns they share in their respective pursuits. The study also discusses the .diverging sets of problems faced by these countries.