KARACHI - The Islamic banking, being practised in Pakistan was not Islamic banking, and there is no future for such kind of banking because it is not possible to have risk free credit products in a world that is confronted crisis after crisis, said the speakers at a conference. Speakers in the BIZTEK Seminar on Islamic Banking: Opportunities & Challenges called for an open-ended approach to see how best Islamic banking could enjoy credence in an economy where it has to compete the banking system attuned to the Capitalist system. Renowned Economist Dr Shahid Hassan Siddiqui highlighted the features which could add more depth to this mode of banking. He thought that Islamic banking could help the countrys development only when it was not exploiting the depositors. Dr Farooq Aziz said that Islamic banking was a misnomer because Islam permits return on labour, not on land & capital. Muhammad Arif, who has headed the Islamic Banking Division, traced the development of Islamic banking and hoped for its future success in attracting those sections which are a bit apprehensive about its success. The seminar concluded with the thanks and began with the welcome address by Dr Muhammad Ali Siddiqui, Dean Management and Social Sciences.