Islamic finance for commercial transactions "would not be free", but would have some kind of "cost" other than interest. (Charitable, interest/return-free loans are known as Qardhul Hasan in Islam.) Growth of alternative (Islamic banking) industry As the Islamic revival blossomed in the last half of the 20th century, this new financial system began to be developed. By the late 20th century a number of Islamic banks formed to apply riba/interest-free principles to private or semi-private commercial institutions within the Muslim community, In the 1980s the Pakistan regime of General Muhammad Zia ul-Haq condemned the "curse of interest" and promised to eliminate it. By 2014 around $2 trillion in banking assets were "sharia-compliant", (approximately 1% of total world banking assets). This industry was concentrated in the Gulf Cooperation Council (GCC) countries, Iran, and Malaysia. Modes Islamic banking replaced riba/interest with accounts paying zero return on deposits: "current accounts" offered for safe keeping of depositor funds with no return added to the amount deposited (In practice these deposits often include a Hibah (literally "gift"), in the form of prizes, exemptions, etc., to compete with interest return of conventional banking current accounts.) a return varying according to the success of the project(s) the bank financed: for commercial finance the primary mode (in theory) of Islamic finance — called profit and loss sharing — would replace interest with risk sharing between the investor, the banker and the entrepreneur of the project being financed, much like venture capital financing. One form of profit and loss sharing is mudarabah finance, where the bank would act as the capital partner in a back-to-back mudarabah contract with the depositor on one side and the entrepreneur on the other side. As the "loan" was repaid, the financier (rabb-ul-mal) would collects some agreed upon percentage of the profits (or deducts if there are losses) along with the "principal" from the user of capital (mudarib); fixed return: like interest but differing (in theory) by limiting finance to a specific sale. murabaha (credit sale) was the principal form of this type of "Asset-backed" or "trading-based" mode of financing (also used are Ijara, Istisna, were some others) and they were to supplement the profit and loss sharing models. As Islamic finance grew, it became clear Murabahah was not a supplement to profit and loss sharing, but the mode used in about 80% of Islamic lending. (Explanation for this include that the structure and