Finance Minister Ishaq Dar has reiterated his commitment that within five years the usury system will be abolished from the country and Islamic financing will be introduced.
Under the chairmanship of Finance Minister Ishaq Dar, the first meeting of the Steering Committee for the implementation of the anti-riba decision of the Federal Shariat Court was held in Islamabad.
According to the statement of the Ministry of Finance, the Finance Minister appreciated the efforts of the Governor State Bank in preparing the roadmap for the implementation of interest-free Islamic financing system.
The Finance Minister also appreciated the withdrawal of the appeal by the State Bank and the National Bank against the decision of the Federal Shariat Court.
The Finance Minister emphasized the government’s priority to promote Islamic finance. The finance minister also insisted on having experts in Islamic law in the committees and consulted scholars and Islamic intellectuals to issue additional sukuk bonds.
He assured full cooperation for the implementation of the decision of the Federal Shariat Court.
The Governor State Bank briefed the participants on the road map for the implementation of the decision of the Federal Shariat Court.
Governor State Bank said that five working groups have been established to implement the decision.