Ishaq Dar, Interior minister of Pakistan, announced the government’s decision regarding the usurious system in the country. Dar declared that the National Bank and the State Bank would withdraw their petitions against the decision of the Shariat Court regarding the usurious system.
The federal minister in a video statement stated that the issue of promoting the Islamic banking system has been discussed in detail with the Governor of the State Bank of Pakistan. He further said that the Qur’an and Shari’ah dictate Muslims to form an economy that is free from usury. A thorough decision has been taken with the permission of the prime minister and by consultation of the Governor of the State Bank, said Ishaq Dar.
Since compliance with the Shariah is a fundamental aspect of the beliefs of the Muslims, going against it questions the purpose of this country coming into being. The government and the National Bank of Pakistan, hence, are withdrawing their appeals against the decision of the Shariat Court.