Miftah and Islamic scholars discuss the implementation of Sharia in the banking system

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Federal Finance and Revenue Minister Miftah Ismail held a meeting here on Tuesday with renowned Islamic scholars Mufti Muhammad Taqi Usmani, Dr Hussian Akbar, Dr Raghib Naeemi and Sheikh Azhar Iqbal on the implementation Sharia in the banking system and the elimination of the Riba from Pakistan.

Minister of State for Finance and Revenue, Dr Ayesha Ghous Pasha, Governor of State Bank of Pakistan (SBP), Chairman of Securities and Exchange Commission of Pakistan (SECP), Secretaries of Finance, Economic Affairs Division (EAD) Law & Justice and senior officers attended the meeting.

According to a press release issued by the Ministry of Finance, the meeting reviewed the current status of Islamic finance operations in the country, the Supreme Court order and the Federal Shariah Court decision in Sharia request.

The meeting discussed and sought guidance in some financial areas requiring more clarity for the implementation of Shariah in the country’s financial system.

On this occasion, Mufti Muhammad Taqi Usmani and others shed light on the different aspects of the Islamic financial system and made their suggestions for designing a framework for dealing with public debt through a financing structure/ Sharia-compliant debt.

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