Welcomed

LAHORE: Jamaat-e-Islami naib ameer Dr Farid Ahmed Piracha has expressed satisfaction over progress of a petition before the Federal Shariah Court seeking abolition of usury and interest-based transactions in the country.

In a statement on Tuesday, he appreciated the stance of the Attorney General of Pakistan conceding that the Federal Shariah Court had the jurisdiction to hear the petition. He asked the State Bank of Pakistan not to challenge the FSC jurisdiction.

Farid Piracha said the abolition of interest was a requirement of the injunctions of the holy Quran and Sunnah, and also the Constitution of Pakistan.