2 in 3 Pakistanis Believe that Bank Interest is Haram: Survey

According to a Gilani Research Foundation Survey carried out by Gallup Pakistan, 68% Pakistanis believe that interest charged by banks is haram.

The results shouldn’t come as a surprise to most of us, and points to one of the major issues why Pakistanis generally shy away from banking products.

Details about The Gallup Survey Report

According to Gallup Pakistan, this is how the survey was formulated and presented:

‘A nationally representative sample of men and women from across the four provinces was asked, “Some people are of the opinion that the interest charged in banks is not haram while others are of the opinion that bank interests are haram. In your opinion is the interest charged in banks haram or not?” In response, 68% said that it is haram while 21% said that it is not haram and 11% did not respond.’

gallup-poll

The study was released by Gilani Research Foundation (who also did the field work for the poll) and carried out by Gallup Pakistan, the Pakistani affiliate of Gallup International. The recent survey was carried out among a sample of 1826 men and women in rural and urban areas of all four provinces of the country, during December 21 – December 28, 2015. The error margin is estimated to be approximately ± 2-3 per cent at 95% confidence level.

Concluding Thoughts

These findings are instrumental for social scientists and policy makers in Pakistan to determine the economic trajectory of Pakistani communities in the years ahead.

Another reason why Pakistanis shun normal banking channels has to do with the nascent (and mighty convoluted) tax culture in Pakistan as well as the cultural and religious moorings that are firmly entrenched.

In light of Queen Maxima and World Bank President’s visit, these findings show that Pakistan has a lot of ground to cover when it comes to making the Pakistani populace financially inclusive.

After all, 100 million Pakistanis are still without basic financial services, but the growth of digital channels such as EasyPaisa can usher in a revolution in the coming years, if it hasn’t already.

Samir heads the sponsored content department at ProPakistani. He also looks after the Life section.


  • Abdullah

    It’s haram no doubt in it.

    • Waqas

      lol, Nothing is harm in islam.

      • Farhan Tahir

        you are right, these days everyone has their OWN islam. so you can say anything about YOUR islam

      • Aftab Alam

        Why do you not eat pork?

        • Ali Mohsin

          Bacon certainly is a delicacy?.. you never tried that?

    • Javed Khan

      Give me one good solid and logical reason why you think it is so ???

      • ScarletCrimson

        From your comment I take it that you think it is not, and you also believe that reason to be very logical. Answer a question, do you really think your logic is more sound and wise than that of God and his Messenger (PBUH)? Do you really think your brain can perceive even a tiny percentage of God’s logic? Seriously, if you use logic then most of religion doesn’t make sense. Why do we have to go Masjid’s to pray 5 times a day? Why do we starve ourselves in Ramadan? Why do we pay Zakat and give away our wealth? What good does it accomplish to throw away wealth like that? There’s no logical reason to do any of those.

        It’s clearly stated in our religion that whoever deals with interest, declares open war on Allah and his Messenger (PBUH). But who cares, this is the age where we like to wrap pretty wrappers around ugly things and pretend that they’re no longer ugly and forbidden. It’s not rishwat/bribery, it’s “chai-pani”; it’s not interest, it’s “profit”. Well, I’ve got news for you, just because you decide to bury your head in sand and pretend that up is down and right is left, that won’t make it so. If you’re going to use “good, solid and logical” reasons to follow religion, then you might as well go do whatever the heck you like. Because in the end you’re not following religion at all.

        • Jibran

          very true

        • Ali Imran

          Hadit … Actions depends upon the internal heart and mind … Follow the rules of state where u r staying .. Now if ur living in uk then follow uk law if Pakistan then Pakistan law means practice and inforce and respect law … In these things I must say interest is unfortunately Pakistan business toll wada revenue 0 railways 0 Ptv 0 all Pakistan industry is just surviving on markup interest state bank kibor rate … So according to me u will be not punish for someone else …

      • Ali Imran

        Just take loan on interest and u will find ur ans

  • MUDI

    And in 21% ,10% are Non-Muslims remaining 11% are bank employees :D

    • Lazy Sapper

      In those 21 %, include those chimps also who consider themselves secular and liberal and believe suud is perfectly normal and quran is fraud and has no worth.

      • Lazy Sapper

        I have even seen people with long beards working in Banks. LoL.

        • Farhan Tahir

          even Jew Zionists have beards.. beard doesnt make anyone religious. they will burn in hell for supporting and working in Interest based system. as interest is major source of Evil in world

      • Mainichi

        Nice generalization. Are all Muslims terrorists?

    • Farhan Tahir

      True (y)

  • Atif Zalmi

    Well Its haram. totally, no need to do surveys of public thoughts. there is clear message in QURAAN.

  • Rizwan Shakir

    Even, if there is a survey that majority thinks it halal (God forbid), then it isn’t &’ never will be. ALLAH has declared it haraam and Nabi Kareem Sallallahu Aleh Wasallam has declared it haraam. End of discussion.

  • Fakhre Alam

    This ayat is enough for us. A direct order from Allah swt

    • Ali Mohsin

      o chal oaey Fakhre-Alam.. ja k censor board sambhaal… ya, bhangra paa!… Army k tukron per palnay walay keeray!

      • Fakhre Alam

        You lack manners dude . See a psych asap!!!

  • Inam

    The really interesting question would be:
    How many Pakistanis consider Islamic Banking to be Halal?

    That’s where things would get really interesting. ;)

    • Zafar Abbas Rizvi

      agree

    • Rizwan Shakir

      It is not Islamic bnkg. It is portrayed as one. If u feel, keeping money in the house is not safe, u can keep it in bank, it is allowed by Ulema. But u cant take any profit, interest, markup on it. Head to a learned Islamic scholar to get info in this regard. I dont think any of us is that capable to interpret Islamic laws here.

    • Farhan Tahir

      there is nothing like Islamic about any banks.. there is no concept of Banks in islam

      • Inam

        Exactly my point. That’s why I said interesting question.

      • lex

        By that logic, i would like to know whether x-rays are islamic since there is no concept of x-rays in islam? Aeroplanes? Mobile Phones? Elections? Constitution? International Borders??????

        • Inam

          What are you 6 years old? Islam has a much superior economic system that surpasses banking-based system where they’ve made every one an economic slave. Well, that’s useless to discuss with a 6 years old.

          So I reassure you, you can sit on your aeroplane and lick on your book of constitution when your ‘elected’ leader’s son kills your son you would be able to do absolutely nothing about it.

    • KMQ

      Han apki baat sahi hai apni jagah, because aaj kal Islamic banking ke nam se hi tu ullu bana rahe hain logon ko yeh banks wale. Hota sodh hi hai bas usko burkha pehna dia hai Islamic banking ka. So called takaful…

      Khair jo bhi ho, HARAM is HARAM

    • Lazy Sapper

      Most islamic banks are doing fraud. They eat interest labeling it as “fees” while the rate of “fees” is exactly like “interest rate”.
      There are one or two banks in pakistan like Meezan Bank that are somewhat Islamic in a sense they neither issue credit cards or similar other products. They do offer financing services like car financing which is almost islamic way like they first buy the car and then give it to you on installments and take profit on installments.

      • Jaun Raza

        lolzz meezan bank is good because taqi usmani is its shareholder and advisor :) between if u search most of bank advisor either related to taqi usmani sb or his students .

        If some supplier (which bussines nature is services cum SME) has to negotiate L/C to get some loan then what will that islamic bank does ? get raw material for him or pay wages on his behalf ?

      • Inam

        Car/House Financing/Leasing is a purely interest-based activity. It isn’t Halal as well. Please do your research.

        • Jaun Raza

          Islamic bank doesn’t deal in cash but get assets instead and takes rent of it from you and in the end of terms they transfers its right to you. assest base banking all over the world is halal brother.

          • Inam

            What asset do I give to the bank if I want to lease a house via bank? Isn’t that asset money? And how much difference does bank creates in the actual price versus the lease price I have to pay to the bank? Isn’t that ration 1:6 ? Do you consider this Halal?

            • Jaun Raza

              what i am saying and what islamic scholars says in their seminar is if you want to get something (assets) and you want help from your islamic bank then bank will purchase that assets lumsump and give it to you on installment and you both would agree on mutual price. offcourse bank will ask more :) its simple brother i am not Islamic scholar but this thing sound logic but i am concern about corporate banking where i have to get loan on L/C.

  • Farhan Tahir

    To hell with anyone’s opnion when something is made haram in Quran.
    such Fools are the reason for Allah’s Anger who take islam as a religion of OPINIONS

  • ASif

    No doubt its haram.

  • KMQ

    NO need of survey, call it profit, interest, takaful or whatever. Sood is haram in Islam period.

  • jotion mein daal

    If banks charge me interest, say on loan, that is haram. If I get interest on my savings account, that is halal because the bank did ‘business’ and gave me my ‘profit’ and amazingly, the bank guarantees that I shall not incur any loss ever. I am a hypocrite Pakistani. (sarcasm)
    Gallup Pakistan is an imposter and a fraud outfit. Gallup international denies having anything to do with them. I am amazed how gullible are we.

  • Jaun Raza

    what if we are getting profit from goverment institute who invest in goverment projects or gvt securties ?

    what about goverment getting loans from IMF and world bank ?

    and what about those industries or bussinesnan which get loans and do banking with conventional or haram banks and also who sponsor of religous gathering like raiwand ijtama, muharram , milad etc are they also haram ?

    as i know US denim which are biggest soponsor of masjid isamiel of tableekhi jamat have bank accounts in HBL (none islamic bank) .

  • Lazy Sapper

    Right.

  • Lazy Sapper

    Unfortunately we all are linked directly and indirectly to interest based system. There is a hadith which tells in end times no human on earth would be left who will not get air of suud.

  • Lazy Sapper

    To my knowledge, Meezan bank selectively issues loan based on ijarah finance mechanism. Like if someone wants agricultural loan and wants to buy a tractor, bank will buy that tractor and give on installments. Can’t say about other islamic banks what they do.

    • Guest

      Dear Lazy Sapper,
      take a loan from Meezan Bank ijarah or any other and hen tell us they are doing doing good islamic banking or not? scarf wali larki , and darhi wala larka islamic banking start.

  • Aftab Alam

    What is halal or haram, deciding those people who have not even basic knowledge of Islam…Can a person masters in English tell about the coding in CSS or HTML? Shame on such people who are making Isalm fun..millions times shame.

    • Morteza

      As a programmer I know CSS and HTML as some technologies that has “USEFUL OUTPUT”. But what is the output of islam in the world? please mention only one and only ONE successful Muslim nation! Cultural -and scientific and mental!- Lag has been the only result of islam!
      Now, who cares that you are a “Processional” or “Expert!” in such a terrible thing!
      Please don’t do a analogy between this twp subject. Its a wrong analogy. It’s kind of Ghiath Ma’alFaregh.
      And please read my comment above

  • Danish

    Do we really need any survey for that? Don’t we have Holy Quraan for that information?

  • Ali

    In my opinion, if you know the source of earning means to say that bank have invested in plots or some commercial place and then it sells it at higher price to give you profit then i think it is halal but if it is investing in something that is clealy a interest based earning then i think its haram. Banks usually invest in interest based thing & 2ndly they donot disclose the source so it makes the earning suspecious.
    PS:
    I m accountancy student not a Molvi.

  • Adeel

    Zindagi jab test leti hai especially financial crisis ki surat mein to halal haram koi ehmiyat nhn rakhta ye sirf wohi samajh sakta hai jis ki waat lagi ho comment karna aur mullah banna bohat aasan hota hai par bure waqt mein koi sath nhn deta sab kuch khud karna parhta hai

  • Hamza

    before you reach out to conclusions, investigate the reasons of something being haram!
    Somethings can not be labelled totally Haram or totally Halal. Music and photography being so-called haram is one example of a haram-halal misconception.

    Interest on loans is a complex issue. Why because of lifestyle. Purpose of interest being Haram was that it aggravated one’s financial position and left them worse off bcs loans were taken for food and shelter, the basic human rights and necessities and it is cruel to punish someone by charging exponential interest or they would otherwise die of hunger.
    Loans taken back then were normally for food and shelter. Banks will never loan you if you dont have the ability to even buy food, the sole reason of interest being Haram. Loans now are based on “creditworthiness” which is when you can afford luxuries.

    Loans now are 99.99% for luxuries eg. cars, houses (you can always rent a “roof” for as low as Rs3000, own house=luxury), even buying food from uptown markets etc

    Profit on savings is not Haram, why bcs Modaraba system of Islamic finance is kinda similar to that. You provide funds, bank provides management skills and hence the profit. Its an investment.

    effectively you have 3 types of interest (on savings, for luxury and for necessities) of which the third one is the actual evil, cruel and must be destroyed. And i am not focusing on banks, but the people who give money to relatives and charge interest because banks do not loan for necessities.

    PS i know Finance in depth including Islamic Finance. Difference of opinion and rightful informative discussion is welcome.

    To some people who may wonder that stacking money in house to save from interest is islamic, it might not be. you are hoarding cash and not allowing it to enter economy.

  • pacifie

    Right. But then again, economy itself is haram. Create your own economy and disconnect yourself from rest of the haram world. Or simply get off that high horse of yours.

    • Morteza

      Exactly. Islam is the religion of insulation.

  • Jahan

    I just have a question? If anyone can answer? Is paper currency equivalent to metal? From where paper currency draws it’s value? Is paper currency has stable value? Like rs is of same worth as of 20 years back?

    • Hamza

      No. that is why we have inflation bcs paper looses value. metal does not.
      it is supposed to act like metal bcs notes are supposed to be printed in lieu of gold reserves but ab govt muft me note chaapti hain.

  • Furqan

    THANK YOU!

  • Javed Khan

    Well said brother.

  • Abdullah

    nuffSaid

  • Morteza

    I found some video clips about you Pakies and found you so fundamentalist muslim people. Thanks god this rate is lower in Iran. Anybody reading this, please consider this famous quote: Be afraid of who has only one book, especially when he never read it well.

    I -as a traditional muslim- always was asking myself why does the western people look at us (middle eastern people) as uncultured wild folks!! The Sheikhs always was answering that: because they are Imperialists and the Deen is against Zalemin, Or because they are the enemies of the God blah blah blah…

    Now after three decent, I’m seeing ourselves as INSULAR, BIGOT, CLOSE MINDED, EGOIST people who can’t even tolerate with other sects of their religion! Each sect of us sees it’s own way the only correct way , and look at others as deviants! This is nothing but a mix of Geographical determinism and Personality Cult. As a ex-muslim. I never ask you to exit the Deen, cause you can’t! (Bal Aksaruhum la Yagheloon!!). Because most of you can not think out of the walls Islam has built around your mind. I just ask you to do an intellectual filtration on your beliefs(which you have INHERITED ALL OF THEM from your parents)