State Bank and National Bank will withdraw the appeals filed in the court, will advance the interest-free Islamic banking system in the country. Finance Minister Ishaq Dar's press conference
Islamabad (Urdupoint newspaper latest. 09 November 2022) Finance Minister Ishaq Dar announced the withdrawal of government appeals on the decision against interest. He said that the appeals filed by the State Bank and the National Bank in the Federal Shariat Court will be withdrawn, and the interest-free Islamic banking system will be promoted in the country. He said in the news conference that first of all, I congratulate the Pakistani team for winning the semi-final.
He said that the Federal Shariat Court had decided in the recent past that the economy of Pakistan should be cleansed from the system of usury, as this is also the order of the Qur'an and Sunnah. It was discussed in detail last week and a road map was prepared from the Governor State Bank. Discus? Between 2013 and 2018, considerable work was done to advance the interest-free Islamic system.
At that time, a special committee consisting of scholars was also established.
But in the last few years this work has not progressed rapidly. Now when the Federal Shariat Court gave a decision against the usurious system to rid the economy of Pakistan from the usurious system, State Bank and National Bank filed appeals against this decision. I think our priority and decision The standard is Qur'an and Sunnah. Taking this into consideration, I am announcing the withdrawal of government appeals on the decision against interest by the federal government.
He said that the State Bank and the National Bank will withdraw the appeals filed in the Federal Shariat Court, and will advance the interest-free Islamic banking system in the country. There are big challenges in ending the usury system. Can't fully transfer to Islamic system but we will in any case establish it as an interest free banking system. Our effort is to play a role in introducing Islamic banking system in Pakistan.
