Ashrafi welcomes govt’s initiative for withdrawing application challenging verdict against usury

ISLAMABAD, Nov 09 (APP): Prime Minister’s Special Representative for Interfaith Harmony and Middle East Hafiz Muhammad Tahir Mehmood Ashrafi on Wednesday welcomed the initiative of the government to withdraw the application against the Federal Shariat Court (FSC)’s decision on usury from the Supreme Court.

Ashrafi who is also the Chairman of Pakistan Ulema Council, in a talk to APP, thanked Prime Minister Muhammad Shehbaz Sharif, particularly, Minister for Finance Mohammad Ishaq Dar to take such a bold step, abrogating the interest-based banking system in the country.

He said the withdrawal of the application from the apex court would pave the way to establish an Islamic society in the light of Quran and Sunnah.

He said it was a long-awaited desire of the people that the financial system of the country should be interest-free.

He said the elimination of Riba (interest) would give an unprecedented boost to Pakistan’s economy and take the country to new heights of economic development and prosperity.

Ashrafi assured his all out support to the government’s economic team on the behalf of Ulema and Mashaykh to bring reforms in the banking system as per Islamic injunctions.