Islamic banking is defined as banking system which is in consonance with the spirit, ethos and value system of Islam and governed by the principles laid down by Islamic Shariah. Interest free banking is a narrow concept denoting a number of banking instruments or operations which avoid interest.

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The Regulations applicable vide circulars (issued by Islamic Banking department-SBP) are specifically for Islamic Banking Institutions and are in addition to general regulations which are applicable on all banking institutions or as prescribed by State Bank of Pakistan from time to time.     

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