Zia's Islamization of Economy
Within the framework of Islamization of economy, the National Investment Trust and the Investment Corporation of Pakistan were asked to operate on equity basis instead of interest as of July 1, 1979. Interest-free counters were opened at all the 7,000 branches of the nationalized commercial banks on January 1, 1980.
Read more about this topic: Zia-ul-Haq's Islamization
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)