What Islamic Finance Products are offered in Pakistan by Institutions?

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Islamic finance products are different to that of your usual finance products in the way that they work. This is down to the fact that the finance system and all activities within it are conducted in a different way and therefore, fall in line with the principles of Shariah and so, it avoids all activities that include interest/Riba as well as any uncertainty.

However, there is no shortage of Islamic Financial Products available in Pakistan. Islamic finance products are being offered by both conventional banks and Islamic banks in Pakistan. Take Standard Chartered as an example as they offer a wide range of products including Bank Accounts, Credit Cards, Home Finance, Wealth Management, Instalment Plan, Business Term Finance and Commercial and Trade Product. The following are key types of Islamic Finance Products being offered in Pakistan:

  • Car Ijara / Auto Ijara

  • Home loans / Home finance

  • Islamic Current Accounts, Saving Accounts, Foreign Currency Accounts

  • Islamic Investment Certificates

  • Personal Murabaha

  • Short term and long term finance for SMEs

  • Export finance for SMEs

  • Various other products offered by multiple financial institutes

Islamic Finance Products are designed with Shariah Law in mind and so, customers can be sure that the Islamic Finance Products that they choose are ethical and socially acceptable. Having finance options available such as these makes it possible for the people of Pakistan to find a product that is right for them in every way.