Eminent religious scholar and chief of the Jamiat e Ittehadul Ulema (JIU), Maulana Abdul Ma'lik, has announced that the Ulema from all schools of thought would start a vigorous movement against usury/ interest system with the support of the general public. Addressing a gathering of the Ulema at the head office of the JIU, he called upon the government to enforce an interest free system as had already been worked out by the Islamic Ideology Council, the Federal Shariat Court and the Shariat Appellate Bench failing which it would not remain in power for long.
Maulana Abdul Ma'lik said that soon after the establishment of the country, the Quaid e Azam had repeatedly stated that the Holy Quran would be the basic law and the constitution of Pakistan and while inaugurating the State Bank of Pakistan, the Quaid had categorically stated that Pakistan's economy would be free from Riba. He noted that in the constitutions, Bank Interest had been termed Riba and as was prohibited in Islam. It had been laid down in the constitution that Riba would be abolished within ten years period. However, he said that unfortunately, the Riba was still in continuing. He said that the Federal Shariat Court had directed the government in 1991 and 1992 to end Riba and start interest free system banking system, but the government was still continuing Riba under the cover of judicial decisions.
Comments
Comments are closed.