KARACHI: Eminent clerics of the country on Wednesday welcomed the government’s decision to withdraw its appeals filed in the Supreme Court against the Federal Shariah Court’s (FSC) directive to convert to Islamic banking in a phased manner by December 2027. .
Prime Minister’s Special Representative for Interfaith Harmony and Middle East Hafiz Muhammad Tahir Mehmood Ashrafi thanked Prime Minister Shehbaz Sharif and Finance Minister Ishaq Dar for taking such a “courageous step” towards ending the interest-based banking system in the country. paid
Earlier in a press conference, Fan Mundar – with the permission of Prime Minister Shehbaz Sharif and in consultation with State Bank of Pakistan (SBP) Governor Jameel Ahmed – announced that the government would accept the requests of SBP and National Bank of Pakistan. Will take it back. FSC decision.”
Ashrafi, who is also the chairman of the Pakistan Ulema Council, said that withdrawing the petition from the Supreme Court would pave the way for the establishment of an Islamic society in the light of the Quran and Sunnah.
Talking to APP, Ashrafi said that the long-standing desire of the people was that the country’s financial system should be interest-free.
He said that abolition of usury will give an unprecedented boost to Pakistan’s economy and take the country to new heights of economic growth and prosperity.
Ashrafi assured the government economic team on behalf of the Ulemas and Mashaikhs of their all possible cooperation to bring reforms in the banking system according to Islamic injunctions.
Meanwhile, Jamiat Ahle Hadith chief Professor Sajid Mir said that this step is highly commendable.
“The government has finally realized its mistake, which is welcome, and it has been positively received,” the Islamic scholar said, adding that the government had to set up a model Islamic bank under a public-private partnership arrangement. Should.
The spokesperson of JUI(F) in a statement gave all the credit for this development to Maulana Fazlur Rehman.
This is the result of Maulana’s efforts. JUI(F) appreciated the decision. The nation deserves hearty congratulations for this,” the spokesperson said.
He said that interest-free economy is the key to prosperity and development of Pakistan.
The spokesperson of JUIF added that we will continue our efforts to implement the Islamic system within the limits of the constitution.
