Banks urged to withdraw appeals against FSC order

Ashrafi says govt making effort to get rid of interest-based economic system

ISLAMABAD:

Prime Minister’s Special Representative for Interfaith Harmony and the Middle East Muhammad Tahir Mehmood Ashrafi on Sunday urged the private banks to withdraw their appeals to annul the judgment of the Federal Shariat Court (FSC) against Riba (usury).

He, talking to APP, said the government had taken practical steps by withdrawing appeals of national and state banks from the apex court in a bid to get rid of the interest-based economic system.

Ashrafi, who is also the Pakistan Ulema Council chairman, assured the government of Ulema and Mashaikh all-out support in the implementation of the FSC’s decision in letter and spirit.

He proposed all the financial institutions should devise a combined strategy to make the country’s economic system free of interest which was totally against the divine commands.

He also urged the government to take stern action against the people who were allegedly involved in an interest-based system at the local level.

He said Pakistan, currently, was facing a critical financial crisis and its solution was lying in political stability and improved law and order situation in the country.
He urged all the religious and political parties to unite on one platform and help cope with burgeoning polarisation, extremism, and the new wave of terrorism with collective efforts.