Mian Rashid Asghar
FAISALABAD: President of Faisalabad Chamber of Commerce and Industry Atif Munir Sheikh has welcomed the decision of Federal Shariah Court to abolish interest banking system by 2027. He said that Pakistan is basically an Islamic state but even after 70 years there is a system of usury which is tantamount to hurting the religious sentiments of the Muslim majority. He said that the business community also wanted to get rid of this system but due to lack of alternative system they were forced to adopt interest based and usurious banking system. Atif Munir Sheikh specially mentioned the Pakistan Economic Conference organized by Faisalabad Chamber of Commerce and Industry last month, the first session of which was related to Islamic banking and as a result many people were converted to Islamic system. Helped when it happened. Mentioning the usefulness of this conference, he said that many institutions were also helped to calculate Zakat according to Islamic method. He said that although the share of Islamic banking in the aggregate system is still increasing rapidly, it is important to eradicate it at least in the country so that people can conduct their business under the Islamic system with peace of mind. ۔ He further said that the government and the State Bank of Pakistan should immediately respond to the decision of the Shariah court so that the people know how serious they are about the implementation of this decision.
