Riba

Islamic banking are the activities that is consistent with the principles of sharia law and its practical application through the development of Islamic economics. Islamic banking is the best pillar of the economy through this country can rapidly progress.Riba/ interest is prohibited in the Islam so we should be prohibited by the riba as narrated by Hazarat Ali the "Every loanable transaction which derived profit called as Riba" In hadees comes about the Riba sin that Riba has the 70 sin and some hadeeds comes out that more then 70 sin and lest of last sin is more than committing adultery with one's own mother. In Quran comes about riba "O Those who believe, fear Allah and give up what still remain of the riba if you are the believer But if You don't then listen to the declaration of war from Allah and his Messenger and if you repent your is your principle. neither you do wrong, nor be wronged. And if there be one in misery, then defer till ease.and if you leave it as alms it is fair better for you, If you really know" and The Prophet (SAW) cursed the receiver, and the payer of interest and the one who records it, and the witnesses to the transaction, and said they are alike we are all affected by interest one way or the other because today's global finical system is based on interest as a recipient, giver, as employe of convenience banking, As a country created in the name of Islam it is matter of Pakistan's survival to create an Islamic economic and financial system. In convenience banking same products but by changing their name and interest for example HBL has the same products such as Term account it gives you the interest by year to year changes and in other products Saving Accounting by taken rang of 100000-1000000 at 8% interest per annul they are not using these .