ISLAMABAD — Pakistan’s transition to Islamic banking will head in a similar direction to that of Malaysia’s, and the shift will be well supported by banks and customers, Muhammad Nassir Salim, president and CEO of Habib Bank (HBL), said in a recent interview with Nikkei Asia.
Islamic banking is a financial system based on Islamic principles, where interest is prohibited and all transactions must be backed by real assets and follow ethical guidelines of fairness.
