JUI-F on Tuesday announced to protest against re-allowing of conventional banking in a public sector bank and vowed to resist the move of the government with tooth and nail.
Maulana Fazal-ur-Rehman led JUI-F, major component of the former religio-political alliance Muthahida Majlis-i-Amal (MMA) has urged on the prayers leaders of all mosques to deliver sermons against the revoking of the preamble of the provincial bank to re-allow conventional banking in the branches of the Bank of Khyber (BoK).
The previous government of the religio-political-parties alliance amended the very preamble of the bank to convert it into complete Islamic bank. The government of the religious political parties after coming into power embarked on the Islamisation of the province and the conversion of the provincial bank into an Islamic financial institution was parts of its agenda.
The present coalition government of the liberal-secular political parties had once again amended the preamble and some other sections of the bank to allow Islamic banking services in addition to the conventional banking in the branches of the institution.The religio-political party, which is now heading opposition in the provincial legislature had although, provided walkover to the treasury benches on the consideration stage of the law relating to the matter. The party staged walked out citing a minor matter of bulldozing the privilege motion of their fellow legislator.
The political party, which had attributed the allowing of interest-based banking system to the inviting of the wrath of Allah Almighty and a committing of a big sin had now come out with the agenda of resisting the initiative in all available forums and particularly through the mosques.
The official of the provincial government on the other hand were depending the re-allowing of the conventional banking on the pretext of protecting the institution from decline in the profit and deposits of the conventional banking branches. They said that the amendment in the law will allow doing business in both Islamic as well as in conventional banking system.
According to the management of the bank, the amendment in the preamble of the bank have had closed the door of opening the branches of the conventional branches by the institution. The bank was required to Islamize all branches of the bank through conversion and seeking licenses for the opening of new Islamic banking branches.
The opponents of the re-allowing of the conventional banking had vowed mobilisation of the masses staging protests against the decision of the government, but also moving the superior judiciary in this regard. They are hopeful that the judiciary will decide the amendment null and void.