Mufti Taqi lauds Fazl for anti-Riba clause

ISLAMABAD:

Religious scholar Mufti Taqi Usmani has praised JUI-F chief Maulana Fazlur Rehman for his key role

in the 26th Constitutional Amendment, which mandates the elimination

of Riba.

He commended Fazl 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 the social media platform "X," Mufti Usmani expressed deep admiration for Fazl's efforts, stating, "There are no words to express my appreciation for Maulana Fazlur Rehman today".

He highlighted how Fazl'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 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.

In what is hailed as a landmark move for Islamic finance in Pakistan, the 26th Constitutional Amendment also mandates the complete elimination of Riba (interest) from the country's financial system by January 1, 2028.

The amendment, which modifies Article 38(f) of the Constitution, marks a historic step toward a Riba-free economy, aligning Pakistan's financial practices with Shariah principles.

The amendment comes in the wake of a pivotal judgment by the Federal Shariat Court on April 28, 2022.