Govt announces end to riba in five years, SBP, NBP to withdraw pleas: Dar

[Mentee]

Absolutely nobody in the Pakistani political or business community is serious about ending a reliance on interest. It's a massive undertaking and needs decades worth of research and transition planning. statements and SC orders won't do it.

If you ask any of the conemen nobody is serious in ending their reliance on dirty money . You gotta hire professionals who've actually studied and made Islamic banking models and use danda .

That's called theft. Loans are necessary for social mobility for nations and individuals.

That's qarz e hasna which some private entruentrepreneurs are running successfully not some bratty "kid" who always demand profit in his business.

 

[PDF]

Supreme court is also bound by Islamic law. No decision can be done against laws of Islam according to constitution

Which Islamic law gives relaxation and immunity to a Muslim head of state? Even Caliphs were not exempted and faced court when they were in power. Pakistan is Islamic in name only.

248

Protection to President, Governor, Minister, etc. (1) The President, a Governor, the Prime Minister, a Federal Minister, a Minister of State, the Chief Minister and a Provincial Minister shall not he answerable to any court for the exercise of powers and performance of functions of their respective offices or for any act done or purported to be done in the exercise of those powers and performance of those functions: Provided that nothing in this clause shall be construed as restricting the right of any person to bring appropriate proceedings against the Federation or a Province. (2) No criminal proceedings whatsoever shall be instituted or continued against the President or a Governor in any court during his term of office. (3) No process for the arrest or imprisonment of the President or a Governor shall issue from any court during his term of office. (4) No civil proceedings in which relief is claimed against the President or a Governor shall be instituted during his term of office in respect of anything done by or not done by him in his personal capacity whether before or after he enters upon his office unless, at least sixty days before the proceedings are instituted, notice in writing has been delivered to him, or sent to him in the manner prescribed by law, stating the nature of the proceedings, the cause of action, the name, description and place of residence of the party by whom the proceedings are to be instituted and the relief which the party claims.

 

[Trango Towers]

How will the government borrow money from the IMF and ADB?

 

[IbnAbdullah]

Salaam


An interesting move.

It seems unlikely it has been decided because of religious considerations. Either the next government (likely IK) follows through and Ishaq Dar and co take credit or they get to call the sood khors if they don't go through with it.

It would have been worth something if Noon league had done it themselves in the decades they've had in power.

Regardless, could turn out interesting.

 

[PDF]

How will the government borrow money from the IMF and ADB?

 

[Trango Towers]

View attachment 895211

Plot next to bajwas in Belgium looool

 

[Sayfullah]

Supreme court is also bound by Islamic law. No decision can be done against laws of Islam according to constitution

This is a great decision by govt

Who filed appeal against decision??

Then why was transgender bill not stopped by Supreme Court? Why does Pakistan deal with riba in the first place? Supreme Court on paper might be bound by Islamic law but in reality is the same filth tryna make Pakistan secular.
Transgender protection bill and riba is openly declaring war against Islam yet our country whose court and constitution is “bound by Islamic law” didn’t do anything. Our Cory at couldn’t stop kufri bills. When Shariah Court passes a bill against riba it gets challenged in Supreme Court. Is it not clear in the Quran that riba is openly war against Islam which this country has been participating in for years. The fact that such an appeal was allowed to be filled in the first place shows how “bound by Islamic law” our courts and constitution is.

 

[SecularNationalist]

ISLAMABAD: Finance Minister Ishaq Dar has stated that the federal government has decided to withdraw the State Bank of Pakistan (SBP)’s and the National Bank of Pakistan (NBP)’s appeals from the Supreme Court against Sharia court with respect to make the economy interest-free in the next five years.

The finance minister announced this through state-owned new channel on Wednesday.

The minister said that he would like to share a decision taken by the government on behalf of the prime minister and allies with regard to withdrawal of appeals against Sharia Court verdict from the SC.

Ishaq Dar said that with the permission of the prime minister and after consultation with the SBP, he was announcing that the SBP and the NBP would withdraw its two appeals from the SC against Sharia Court verdict.

The minister added that Federal Sharia Court in recent past had given a decision for transforming Pakistan’s economy to make it interest (Riba)-free in the next five years.

He said that the matter was deliberated in detail during the last few weeks and consultation were also held with Governor SBP on the matter besides discussion on future road maps. Dar said that during 2013-18 considerable progress was made for promoting Islamic banking system and a special committee with prominent religious scholars was also established. However, he said that during the last few years the progress was not that speedy.

The minister said that the government would make effort to implement the Islamic System in Pakistan, however, would not he possible to shift immediately due to various challenges as entire banking system is implementing a system for the last 75 years.

Govt announces end to riba in five years | The Express Tribune

Dar says FSC’s order on interest-free banking to be implemented

tribune.com.pk

BR-ePaper | Nov 10, 2022 | Page Front Page 1

epaper.brecorder.com

https://twitter.com/x/status/1590353386603700224

Only if you fags will survive for 5 years.
Just another attempt to get votes from the public because religion is the hot selling item in this country.

 

[epebble]

Interest is the basic market signal to allow efficient utilization of scarce capital. If the minister truly gets rid of interest absolutely (and not call it by another name) i.e., banks neither give interest on deposits nor demand interest on loans, Pakistan will quickly become Zimbabwe.

 

[Mrc]

Then why was transgender bill not stopped by Supreme Court? Why does Pakistan deal with riba in the first place? Supreme Court on paper might be bound by Islamic law but in reality is the same filth tryna make Pakistan secular.
Transgender protection bill and riba is openly declaring war against Islam yet our country whose court and constitution is “bound by Islamic law” didn’t do anything. Our Cory at couldn’t stop kufri bills. When Shariah Court passes a bill against riba it gets challenged in Supreme Court. Is it not clear in the Quran that riba is openly war against Islam which this country has been participating in for years. The fact that such an appeal was allowed to be filled in the first place shows how “bound by Islamic law” our courts and constitution is.

What's wrong with transgender bill and appeals against riba has been withdrawn. That's the ttittle of this thread

Pak judicial system has much to be desired from.

 

[SQ8]

Interest will never disappear from Pakistan’s economy so long as it wants to be part of the world’s economic system.

What it can do is end predatory loans and interest practices which prevail throughout its rural regions.

 

[Maula Jatt]

Not possible- best you can do is make mortgages, car loans etc in line with islamic shari'a like the GCC

That's the most you can do

 

[Sayfullah]

What's wrong with transgender bill and appeals against riba has been withdrawn. That's the ttittle of this thread

Pak judicial system has much to be desired from.

Transgender bill legalizing switching genders and basically same sex marriage. It uses intersex people as a cover to legalize transgender people even tho internationally even in UN, transgender is separate from intersex.
Why were the appeals allowed in the first place? Why can the Shariah Court’s ruling be challenged in Supreme Court in the first place?

Pak judicial system is a joke and definitely nowhere near Islamic.

 

[Mrc]

Transgender bill legalizing switching genders and basically same sex marriage. It uses intersex people as a cover to legalize transgender people even tho internationally even in UN, transgender is separate from intersex.
Why were the appeals allowed in the first place? Why can the Shariah Court’s ruling be challenged in Supreme Court in the first place?

Pak judicial system is a joke and definitely nowhere near Islamic.

Supreme court is the apex court and given the state of our ulema their rulings must be challenged rather can be challenged

And btw I don't think sharia court has lodged any objection to transgender bill...

 

[Jango]

Got to get that sweet sweet religion vote!

Akhir Imran Khan yahoodi agent, IK kafir, IK gustakh aur religion vote kay ilawa reh hi kia gaya hai?