<P> Conceived in late 1977 and carried out during his reign , the programme came in response to an upsurge in Islamic activism , and the problems and controversies associated with the policies of Zia 's predecessor , Prime Minister Zulfikar Ali Bhutto . Zia 's stated intention was to `` eradicate the scourge of interest '' on loans and securities , and create an `` interest - free economy '' . On January 1 , 1980 , approximately 7,000 interest - free counters were opened at all the nationalized commercial banks , making Pakistan the first country in the Muslim world with Islamic banking . </P>
<P> Conceived in late 1977 and carried out during his reign , the programme came in response to an upsurge in Islamic activism , and the problems and controversies associated with the policies of Zia 's predecessor , Prime Minister Zulfikar Ali Bhutto . Zia 's stated intention was to `` eradicate the scourge of interest '' on loans and securities , and create an `` interest - free economy '' . On January 1 , 1980 , approximately 7,000 interest - free counters were opened at all the nationalized commercial banks , making Pakistan the first country in the Muslim world with Islamic banking . </P>
when was islamic banking system introduced in pakistan
when was islamic banking system introduced in pakistan
January 1 , 1980
January 1 , 1980