Wednesday November 09, 2022

Govt Announces To Work On Riba-Free Banking System Following Federal Shariat Court Verdict: Ishaq Dar

Islamabad:Finance Minister Ishaq Dar on Wednesday (today) announced that State Bank of Pakistan (SBP) and National Bank of Pakistan (NBP) will withdraw their appeals from the Federal Shariat Court of Pakistan against eradication of existing banking system from the country and implementation of riba-free banking system.

Addressing a presser Finance Minister Ishaq Dar said that progress had been made regarding the Islamic banking system in the past but in the last four to five years work on it could not be speed up.

The Minister said that our government with the permission of Prime Minister Shahbaz Sharif, with grace of God will try to implement Islamic system of banking as much fast as we can adding that we will try work on it and impose it on fast pace more than the past.

Ishaq Dar said that the decision we have taken today, we pray to God Almighty to guide and help us in this endeavor that we could take forward speedily riba-free banking system in our country.

After praying to God, he said that the implementation of the riba-free banking system has challenges as for 75 years the country was on different system and it will not be implemented at once but it will take time.

He said that we have decided the SBP and NBP will withdraw appeals in the federal shariat court in coming few days. While we trusting on God we will work on a system to be implemented in the country that is riba-free banking system.

Ishad Dar further apprised that we will try to implement the system in time duration set by the federal shariat court..

The post Govt Announces To Work On Riba-Free Banking System Following Federal Shariat Court Verdict: Ishaq Dar appeared first on Abb Takk News.

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