Govt should end the interest based system as soon as possible according to decision of Federal Shariat Court: Sirajul Haq
ISLAMABAD, April 28 (SABAH): Emir Jamaat-e-Islami Pakistan Sirajul Haq while welcoming the decision of the Federal Shariat Court (FSC) against riba (interest) has demanded of the government to not wait for five years and should end the interest based system as soon as possible according to the decision of the Federal Shariat Court and convert the interest based system into the Islamic Shariat system. Sirajul Haq said that we are hopeful that the current government will not delay the matter like previous government on different pretexts. Sirajul Haq said that if we will feel that the government is creating any hurdle, speed breaker and hitch in front of this decision then there will be our hand and government’s collar. He said that today (Friday) the nation should thank Almighty Allah on this decision as decision against the interest based system is our big success.
This was stated by Sirajul Haq while talking to media persons after listening the verdict of the Federal Shariat Court against the riba (interest) on Thursday in Islamabad. On the occasion Deputy Chiefs of JI Liaqat Baloch, Mian Muhammad Aslam, Professor Muhammad Ibrahim Khan, Dr. Farid Ahmed Piracha, JI Islamabad Emir Nasrulah Randhawa, JI counsels Qaiser Imam, Saifullah Gondal, Tanzeem-e-Islami Emir Shujauddin Shaikh and Tanzeem-e-Islami leader Hafiz Akif Saeed and other leaders were also present.
Sirajul Haq said that today is a historic day, adding that he congratulates the whole nation on this verdict, adding that the FSC has ordered abolishing the interest according to the law of Almighty Allah and Constitution of Pakistan. He said that the court has restricted the government to convert all the economic laws in five years time according to the principles and laws conveyed by Almighty Allah and Holy Prophet Muhammad (PBUH).
Sirajul Haq regretted that the previous government had announced to make State of Madina but it did nothing for abolishing the interest based system, adding that prior to this the Muslim League government had approached the Supreme Court of Pakistan against the verdict of the Federal Shariat Court.
Sirajul Haq said that nation knows the government has brought 22nd program from IMF, adding we and whole nation reject the agreements with IMF based on slavery.
Sirajul Haq said the JI would hold a consolatory meeting with the experts of Islamic banking, lawyers and religious scholars after Eid to propose a strategy to the government for the implementation of Islamic model of economy.
He said the JI would not allow the government to make any escape this time, saying the PML-N governments unfortunately opposed the shariat court decisions of 1991 and challenged it before the Supreme Court. The apex court then sent back the decision to the shariat court for review and it took almost two decades to the judgment.
Terming the Thursday verdict historic, Sirajul Haq told the media that the Federal Shariat Court declared the prevailing interest-based banking system as against the shariat and directed the government to facilitate all loans under an interest-free system.
In its long-awaited verdict, he said, the court ruled that the federal government and provincial governments must amend relevant laws and issued directives that the country’s banking system should be free of interest by December 2027.
He said he hoped the government will not wait for five years rather it will start immediate efforts to transform economy into Islamic model. He said the State Bank of Pakistan also start working for the Islamic banking from now. It was not a difficult task as the central bank could complete the transformation of current banking into Islamic in months, he said. He demanded the government review the agreement signed with the IMF, saying the nation was no longer ready to accept the slavery of capitalist system.
The JI chief said Islam sets the framework for permissible economic, social and political system but it was an irony that the system on the basic of which the country achieved freedom was not introduced for 74 years.