Babar Awan concludes his arguments on petitions filed for elimination of interest bases system in Federal Shariat Court

ISLAMABAD, Feb 01 (SABAH): During the hearing of the cases filed in the Federal Shariat Court in connection with elimination of interest-based banking system, amicus curiae and Advisor to PM on Parliamentary Affairs Dr. Zaheeruddin Babar Awan completed his arguments while the court directed the lawyer of United Bank Limited (UBL) and State Bank of Pakistan (SBP) to inform the court in writing as what steps had been taken so far to promulgate Islamic banking system.

The court summoned UBL and SBP counsel for final arguments on February 3 after which Attorney General for Pakistan Barrister Khalid Jawed Khan would give arguments. A 3-member bench headed by Chief Justice Muhammad Noor Miskanzai heard the cases filed against the abolition of interest-based system. During the hearing, Dr. Babar Awan, Deputy Emir of Jamaat-e-Islami Pakistan Professor Muhammad Ibrahim Khan, Head of Tanzeem-e-Islami Dr. Muhammad Akif Saeed and other parties appeared. Amicus curiae Babar Awan argued that no other court but the Federal Shariat Court enjoyed full jurisdiction to hear cases against usury. He added that the Islamic Ideological Council had made several recommendations for the abolition of the interest system but time was wasted by not implementing them. He further argued that they had to devise a system while staying within the limits shown by Almighty Allah.

Babar Awan emphasised that there were decisions of the higher courts that the ‘Principal of Policy’ would not interfere in that matter. Chief Justice Muhammad Noor Miskanzai remarked that elimination of interest system was the collective responsibility of all of us including the parliament and all stakeholders needed to work together to devise a strategy. Whereupon, Dr. Babar Awan added that nowhere is was written that interest free banking system is not viable. Meanwhile, Justice Dr. Muhammad Anwar expressed frustration over the non-submission of reply by UBL and directed the lawyer to elaborate as what steps the bank had taken in elimination of interest banking.

Jamaat-e-Islami leader Professor Muhammad Ibrahim Khan pleaded that the court might oblige UBL, SBP and the government of Pakistan to prove the objections they had raised in the Supreme Court and that when SBP noted that Asad Malik was working for Islamic banking, it meant that conventional banking was un-Islamic. He added that the government wanted to prove that usury was not interest. Meanwhile, Deputy Attorney General Chaudhry Ishtiaq Mehraban took stance that the government also surrendered to the Islamic law and wanted its implementation.

The Attorney General would come up with his stance after the parties had taken their opinions. The court adjourned the case till tomorrow (Thursday).