The NWFP Assembly on Friday gave constitutional cover to the Islamic banking amid opposition boycott of the bill for not taking them into confidence over the matter. However, the house passed the bill along with the proposed amendments of Bashir Ahmad Bilour MPA of the ANP.
The NWFP assembly through passing the bill also gave constitutional status to the Shariat Advisory Committee of the bank constituted for its supervision. Senior Minister Sirajul Haq, who also holds the portfolio of the finance, tabled the bill for discussion and approval.
Bashir Ahmad Bilour, parliamentary leader of the ANP in the provincial assembly, presented amendments and contended that the government has done nothing for the elimination of the interest. He suggested amendments in Section 1 and II to remove flaws from the bill.
Responding to the proposed amendment of Mr Bilour, Sirajul Haq said that the government has completed homework regarding Islamic banking in Bank of Khyber. He said that all matters have been finalised in the light of the rules and regulations of the State Bank of Pakistan. In this connection, he also paid tributes to the Governor State Bank. He said that the Shariah Advisory Board comprises world-reputed experts.
The ANP MPA was of the view that the matter is not his personal saying that they are interested in the unanimous passage of the bill from the house.
Israrullah Khan Gandapur of the PPP-Sherpao and Anwar Kamal Khan Marwat of the PML-N also supported Bilour.
Anwar Kamal Marwat said: "The bill also contains provision for more sub-committees, which would make the advisory board a mean of employment.
Therefore, he said that the bill should be handed over to the committee concerned.
Opposition leader Shehzada Muhammad Gustasip Khan said: "They all are Muslims and would not allow any one to use Islam for achievement of personal designs." He said that till the government did not satisfy them they would not support this bill. He also demanded inclusion of MPAs in the provincial Shariat Council and called for stoppage of the laws from outside the house.
Syed Murid Kazim, parliamentary leader of the PPP-Sherpao, said: "Like the Shariat Bill they want to pass this bill also unanimously." However, he said that the opposition should also be taken into confidence.
Abdul Akbar Khan, parliamentary leader of the PPP-Parliamentarians said that the Shariat Advisory Board of the Bank of Khyber has been given big status than the Board of Directors. Khalil Abbas Khattak of the ANP said, "the important problem is the elimination of the interest (Riba)" and called for the removal of the opposition's apprehensions, saying that the bill should be deferred for time being.
Speaker Bakht Jehan said: "The assembly is the supreme legislative institution of the province, therefore, the bill is tabled here for approval." The refusal of the chair to hand over the bill to the house committee infuriated Bilour on a token walkout, who was followed by all the opposition members.
Later, the house passed the bill unanimously. The provincial Minister for Law and Parliamentary Affairs, Malik Zafar Azam, thanked all members for the unanimous passage of the bill.