Abstract
Islamic finance industry has been growing for the last twenty years, both in Muslim
and non-Muslim countries around the world. There are different modes of Islamic
finance which provide job opportunities across the globe. In Pakistan, the
contemporaneous growth of Islamic banking and finance is not different from other
countries. Islamic banking and finance does not only provide employment for
individuals, indeed it also offers various products and services to customers across
the country. Musharakah is a form of business in Islamic finance that is being
adopted rapidly by most of the customers in Islamic banking and finance
institutions. Therefore, the purpose of this study is to examine the role of Islamic
finance, mainly how Musharakah is playing its due role in creating employment
and maintaining sustainable development projects which in turn are causes of the
development of the economy, particularly of Tehsil Dargai. For this purpose, this
study collected data through a questionnaire that was randomly distributed among
100 respondents in Tehsil Dargai, District Malakand, Khyber Pakhtunkhwa (KP),
Pakistan and the response rate was 60%. We found that Islamic finance is rapidly
growing in Dargai; indeed, people are practicing different modes of Islamic finance
and Musharakah is the most popular form of Islamic finance in this area. This study
utilizes limited data because it was only conducted in Dargai.
Suhail Ahmad, Ejaz Aslam, Prof. Dr. S. Ghiasul Haq, Prof. Dr. Mohd Ma'Sum Billah. (2019) The Role of Musharakah in the Economic Development of Tehsil Dargai, District Malakand, Khyber Pakhtunkhwa, Pakistan, Islamic Banking and Finance Review, Volume 6, Issue 1.
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