Are governing bodies and associations working towards encouraging greater involvement of members in cooperative governance? Should there be a separate institution similar to the Election Commission to improve the democratic ethic of cooperatives? 44. A relevant issue is that there are several instances of cooperative institutions becoming leader centric. They do well under some good leaders, but crumble when those leaders leave.
Historical context of Pakistan’s Islamic finance  Pakistan has a protracted history of Islamic banking with the initial attempt to Islamize banking system in 1980s 2 , leading to sweeping changes in the Banking Companies Ordinance, 1962 (BCO’62) and associated laws and regulations to accommodate noninterest based banking transactions. Some specific developments around this period are noteworthy: i.