Highlights:
- The Federal Gov of Pakistan to establish “Interest-free” Banking
- 2 appeals against the Federal gov will be withdrawn
- System to be implemented within defined timeline
The Federal government will soon be establishing an Interest-Free Banking system in the country according to Ishaq Dar (Finance Minister).
An appeal was filed against the federal government, in the Supreme Court of Pakistan which will be withdrawn in the coming days.
According to Ishaq Dar, the Federal Sharia Court has issued its verdict on imposing the Islamic Financial and Banking System in the country.
He added that because Islamic banking is prescribed in the Holy book, decisions in the country should follow accordingly.
Although imposing the Islamic system has faced many difficulties, it will finally be implemented within a defined timeline.
