Only 16% of Pakistani people have a bank account, this includes mobile banking and easypaisa accounts because they are also financial services and products of banks. While more than 50% of Pakistani population deals with Binding Committees or more commonly known as BCs for their savings and financial needs.
Though it is widely practices but still some people doubt it, one such Muslim asked a question from Darul Iftah of Jamia Binoria Town that whether it is allowed in Shariah or not.
They replied that it is a mutually corporation where all people pay equal amount and they also receive equal amount, the payment schedule is either based on balloting or is decided on the start and both are mutually agreed which means it is allowed to be involved in such arrangements.
It contains no Interest or Riba which is another reason why it is more successful than Financial Institutions and Banks.