State Bank of Pakistan Promotes Shariah Banking in Rural Areas
The governments of Islamist nations work hard to promote the financial jihad, both abroad and within their borders. Pakistan is no exception.
State Bank of Pakistan (SBP) has revised the criteria for setting up of branches by Islamic banks.
In order to provide incentive to commercial banks for enhancing outreach of Islamic banking services, it has been decided to enhance the scope of Rural/Underserved Areas (RUAs) definition.
This type of activity fits in perfectly with Shariah banking and Shariah Compliant Finance, since the concept of Shariah compliance and Islamic economics is based upon an authoritarian, centralized system of economics in which free market forces are constrained and controlled by religious and governmental entities…This may be okay for Pakistan, but it is certainly not okay for America, a nation built upon a free enterprise system.