KARACHI: Retired Justice Mufti Taqi Usmani, Chairman of Al Meezan Group and Vice President of Darul Uloom Karachi, has urged all banks to take back their appeals against the Federal Shariat Court’s recent verdict on Riba (interest) filed at the Supreme Court (SC) of Pakistan.
In a tweet, Usmani said, “Today the finance minister invited the heads of all the banks in Karachi to present their problems and in response, I repeated the same speech and said that the appeals should be withdrawn and the few ambiguities should be referred to the Federal Sharia Court itself. No one objected to be remedied”
He added, “In these circumstances, it can be hoped that the appeals will be withdrawn and a task force will be formed with sincere intentions to eliminate interest (usury).”
Earlier, a video by journalist Ansar Abbasi claimed that Finance Minister Miftah Ismail said that he had instructed the National Bank of Pakistan (NBP) to withdraw its appeal.
Following the announcement of the Shariah Court decision, Ismail tweeted, “We welcome the Federal Shariat Court (FSC) decision in the Riba case. The government and SBP will carefully study this important decision and then seek guidance and clarification from the FSC about the process, steps, and timeframe to implement this decision.”
No decision has been made about the SBP withdrawing its plea challenging the Federal Shariah Court (FSC) decision against Riba in the SC.
