Islamic Banking, the Shariah (Islamic law) compliant banking for Muslims, is unarguably at the nascent stage of its development as a financial competitor and alternative to the conventional interest ? based banking system practiced around the world. This research work looks into the principles of Islamic banks of Pakistan and focusing three Islamic Banks in Pakistan. The research work analyzes the findings of three banks made by interviews and compare with the conventional banking system, to check that are the principles different or same. This thesis is qualitative in nature, based on theoretical and empirical findings.