system or mee market and support temauve use Isidific system or mincial dcuviues ensures the most favorable rate regarding formulatior of capital and its efficient use guide to reasonable opportunities and strong economic growth. This system is purely the value-based scheme, which largely aims at ensuring material and moral welfare of the person and society in one piece. The activities regarding Islamic banking and finance were particularly remained around the three regions of the world, which include Southeast Asia, Middle East and South Asia. The area of Middle East was totally occupied by Muslim communities so this region is called the homeland of Islamic banking. There is a big support towards the Islamic,banking and finance in the region of Middle East from governments, wealthy individuals and, some state institutions. The greater part of the regulatory authorities of Islamic banking industry and finance industry are situated in the region of Middle East. Most of the sound countries have planned to merge their central banking systems and monetary systems by 2010 This kind of developments in the regions of Middle East countries and worldwide put a huge impact on the industry of Islamic banking and industry of finance. In South Asia, especially Pakistan has just introduced the Islamic banking system Bangladesh has also introduced the harder polices regarding Islamic banking due to the growing market and of public. Afghanistan and India is also about to implement Islamic banking policies in future. In Addition, the region of Southeast Asia, three countries named Singapore Malaysia and Indonesia are developing the complete and advanced edition of Islamic banking to magnetize the Islamic business and Islamic finance from different countries of Middle East and somewhere else around the world. The Sudan government has recently made the more realistic approach to encourage the practices of Islamic banking in particular region.The momentum of Islamic banking and finance is also going to shift in USA and different European Countries. Passage no 8. The paragraph that describes the major area that has implemented Islamic banking is __ (A) paragraph 4 (B) paragraph 3 C (C) paragraph 2 (D) paragraph 1 9. The paragraph following the passage is most likely about __ (A) middle East will be the mercusuar of Islamic Banking (B) the growth of Islamic Banking in USA and European countries C Australia and New Zealand (C) the development of Islamic Banking in (D) the advantages and disadvatages of Islamic Banking