Jungibaaz
RETIRED MOD
- Joined
- Jul 4, 2010
- Messages
- 8,756
- Reaction score
- 113
- Country
- Location
Sorry if this was not directed at me. But fits my post as well quite well. So I will take a crack at it.
Corruption is not a long term problem for Pakistan. It is breathing its last as a system but individual corruption is here to stay.
I know it is a complicated solution but we can work towards it while using the current system as a necessary evil. Moreover we all know that in Pakistan we prefer to keep our savings in the home and not in banks due to maybe just interest in many cases.
This needs to be tactically thought and strategically implemented. I am not saying that we wake up a day and start using barter system again.
It is a gradual and eventual process which is more or less already being implemented on smaller scale because the next stock exchange crash may well be the last breath of this system.
It wasn't directed at you, but you're welcome to respond anyway. I think one can promote Islamic ethics in our economy, and promote Islamic banking whatever that may be for individuals is fine. But to extend the rhetoric of Islamic banking to the wider system, would be disastrous, and even if we were to say that we're not foolish enough to implement this in one fell swoop, but gradually, then at best imo, we're saying that the cost whatever it will be will be spread over however many years or decades it takes, and the long term prospects are probably adjusted downwards for it, but we'll never see that tangibly. I don't like this idea much either.