The Council of Islamic Ideology (CII) on Tuesday wrote a letter to Prime Minister Muhammad Shehbaz Sharif asking to play his role in withdrawing the State Bank of Pakistan (SBP)’s appeal against the decision of the Federal Shariat Court (FSC) for interest-free economy.
The CII, in the letter, urged the prime minister to form a task force on the experts of government, Shariat, economics and law to review the SBP’s concerns over the recent FSC’s decision on interest and make recommendations to pave the way for the implementation of the decision. As a constitutional body, it had assured full cooperation in the proposed task force in the letter.
The CII said it had already written to the heads of the banks operating in the country for not going in the appeal against the decision but the SBP had filed an appeal in the Supreme Court against the decision on June 3, which was being viewed with disapproval by the people, and they had reacted on various forums. The CII expressed the hope that the prime minister would play his part in withdrawing this appeal and form a task force to implement the court’s decision. It would be the best initiative for the government, country and nation, it maintained.
