Steering panel formed on Riba-free economy

ISLAMABAD: The government on Friday constituted a steering committee under the patronage of Minister for Finance Ishaq Dar with the mandate to provide guidance on the legal and regulatory reforms and actions required for implementation of Federal Shariat Court’s (FST) judgment on Riba, says a press release.

The committee would suggest capacity building measures of the stakeholders for full implementation of the FSC’s decision and monitor the progress of implementation of the FSC’s judgment and remove the bottlenecks, if any.

The steering committee will consists SBP governor, Secretary Finance Division, Chairman Securities Exchange Companies of Pakistan, Chairman Pakistan Banks Association, Deputy Governor FI, DFS&IT, State Bank of Pakistan, Maulana Mufti Muhammad Taqi Usmani, President Wifaq-ul-Madaris, Mufti Irshad Ahmad Aijaz, Chairman Shariah Advisory Committee SBP, Mansur-Ur-Rehman Khan, President & CEO, IBP & Member SAC, Ashfaq Tola, Chairman Pakistan Reforms and Resource Modernization Commission, Khozem A Haidermota, Senior partner, Haidermota & Co, Saeed Ahmad, ex-Deputy Governor, State Bank of Pakistan, Irfan Siddiqi, President Meezan Bank, Mian Muhammad Adrees, CEO, Sitara Chemical Industries while Executive Director, Islamic Banking Department, SBP will act as Secretary of the Steering Committee.