PM assures Fazlur Rehman to withdraw appeal against court’s verdict on interest

Prime Minister Shehbaz Sharif on Wednesday assured Jamiat Ulema-e-Islam (F) Chief Maulana Fazlur Rehman to withdraw the National Bank of Pakistan (NBP) appeal against the Federal Shariat court’s verdict on intereset.

The JUI-F chief called on PM Shehbaz and during the meeting Fazlur Rehman apprised him about his concerns on NBP’s appeal.

On this PM Shehbaz directed the task force to take immediate steps to withdraw NBP’s appeal.

It is pertinent to mention that the Federal Shariat Court (FSC) on April 28 announced a verdict in a long-pending case on Riba (interest), declaring the prevailing interest-based banking system as against the Sharia and directed the government to facilitate all loans under an interest-free system.

After that several banks including NBP appealed against the verdict.

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