Interest-free banking system: Jamaat urges government to implement Shariat Court's decision

Jamaat-e-Islami Emir Senator Siraj-ul-Haq has urged the government to implement Federal Shariat Court's decision delivered in 1991 for introducing interest-free banking system in the country; otherwise, his party would take to the streets. Talking to media persons here after appearing before the Federal Shariat Court, Haq said it is the responsibility of the government to bring interest-free banking in the country in accordance with the principles set by the Holy Quran and Sunnah of the Prophet Muhammad (PBUH).
Haq forcefully declared to abolish the interest-based banking system and demanded Prime Minister Nawaz Sharif to withdraw his 1993 appeal before the Supreme Court against the judgement of the Federal Shariat Court, declaring interest-based banking and economy against the Constitution of Pakistan, which the Supreme Court had not heard over the last 24 years.
He warned if the Prime Minister doesn't withdraw this appeal, the JI would give a call to the masses to boycott institutions dealing with interest. "This system will serve as the only way for the country's economic and social development," he added. The JI chief demanded switching to proportionate representation system of elections instead of multi-party system, and complete overhauling of electoral laws before the next election in order to restore public confidence in ballot, saying that losing confidence in ballot leads to militancy, which has already eaten deep into every fabric of the society.
He suggested introducing interest-free banking in the country in the first step and the government must transfer the banking accounts of parliamentarians and government ministries to an interest-free system in their respective banks.
The JI chief said that the interest based banking systems is creating economic inequalities as the rich are getting richer and the poor are becoming poorer. He said that his party will continue efforts to eradicate the menace of interest based financing by using all the democratic means. He alleged PM Sharif and former President Pervez Musharraf for supporting the interest based banking systems, saying if the Prime Minister had been serious to bring an end to interest based financial system, he would have been withdrawn his review petition in the Supreme Court against the decision of Federal Shariat Court.
Haq urged the government to initiate revolutionary reforms by converting Bank of Khyber into an interest-free bank. He said the underprivileged sections of society are unwitting victims of this system. "The JI will no longer tolerate the system of economic deprivation and secular banking in the country," he added. He requested the courts to properly underline the mechanism for interest-free banking system in the country.