in 2002 — 23 years after riba was first forbidden in Pakistan — the State Bank of Pakistan declared that banks and "windows" made "Islamic" in 1979 were not truly Islamic, but conventional, and that other banks (such as the Meezan Bank and Al Baraka Bank) were "full-fledged" Islamic commercial banks who would be promoted by the state bank. Despite this "rebooting", Khan states that the new, purified, full-fledged Islamic banks are the same in "form and function" as the old Islamic banks, and that eleven years later (as of 2013), use only a minuscule amount (3%) of profit and loss sharing, and make up only about 10% of the country's banking sector. Reply to Modernists Most of these arguments have been criticized by Islamic revivalist writers, including Siddiqi, Zarqa, Khan & Mirakhor and Chapra, and especially by Taqi Usmani's "Judgement on Interest Delivered in the Supreme Court of Pakistan". Taqi Usmani argues that commercial, industrial and agricultural (as opposed to consumption) loans could not have been unknown to Arabs in the era of Muhammad since ahadith mention large loans and large scale caravans used by Arab traders. Arabs of Muhammad's era also had "constant business relations" with the adjacent Byzantine province of Syria (Arabs used its silver dirhams and gold dinars for currency) where interest bearing loans were so widespread that a separate law was enforced to fix their rate of interest. He also points out that there are a number of references to "all" riba being forbidden in ahadith, and all excess over principal being riba, but no mention of some smaller amount of interest being permissible. Time value of money One concept instrumental in explaining (and defending) the justice of charging interest on loans is the time value of money — the idea that there is greater benefit in possessing money in the present rather than the future. The concept justifies the idea that later payment should be discounted and savers/investors/lenders be compensated for deferring the benefits of consumption, or — as mentioned above (see: Injustice of fixed return) — compensated for "renting out" the purchasing power of their capital, much as any rental agency providing something valuable/useful is paid rent. As such, some Islamic finance supporters have attacked the idea of time value. Fahim Khan of the Islamic Research and Training Institute in Saudi Arabia states that the prohibition of interest "can be considered" a "sort