Mufti Taqi Usmani lauds elimination of Riba through 26th amendment

Mufti Taqi Usmani also praises JUI-F chief Maulana Fazlur Rehman for his key role in the 26th Constitutional Amendment

Mufti Taqi Usmani has praised Jamiat Ulema-e-Islam (JUI-F) leader Maulana Fazlur Rehman for his key role in the 26th Constitutional Amendment, which mandates the elimination of Riba (interest).

Mufti Usmani commended Maulana Fazlur Rehman for his wisdom in guiding the nation during a critical period, which has led to significant Islamic objectives being achieved.

In a post shared on social media platform "X," Mufti Usmani expressed deep admiration for Fazlur Rehman’s efforts, stating, “There are no words to express my appreciation for Maulana Fazlur Rehman today.”

He highlighted how Fazlur Rehman’s leadership helped resolve critical issues concerning the Federal Shariat Court, Madaris, and the long-awaited elimination of Riba from Pakistan’s financial system.

Mufti Usmani further added that the constitutional reform has brought great joy to the nation and prayed for continued blessings in Fazlur Rehman's life, knowledge, and contributions to the country.

26th amendment mandates elimination of Riba by 2028

In a historic move towards promoting Islamic finance, Pakistan’s Parliament has unanimously passed the 26th Constitutional Amendment, mandating the complete elimination of Riba (interest) by January 1, 2028.

This significant amendment modifies Article 38(f) of the Constitution, marking a key milestone in the country’s efforts to align its financial system with Shariah principles.

The amendment follows the April 28, 2022, Federal Shariat Court judgement, authored by Justice Dr. Syed Mohammed Anwer, which set a five-year timeline for the removal of Riba from Pakistan’s financial system.

By incorporating this court decision into the Constitution, Pakistan has taken an unprecedented legislative step, underscoring its dedication to establishing an Islamic banking system.

The newly amended Article 38(f) now reads: “Eliminate Riba completely before the first day of January 2028.” This development is being hailed as a monumental achievement for Islamic finance in the country.

The passing of this amendment reflects the collective determination of Pakistan’s lawmakers to push for a Riba-free economy and strengthen the nation’s Islamic banking sector.