Pakistan's top Islamic court calls banking system against Sharia, tells govt to make it interest-free by 2027
Shortpedia
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The Federal Shariat Court (FSC) on Thursday declared the prevailing interest-based banking system as against the Sharia law. Pakistan's top Islamic court directed the government to replace it with an interest-free system by the end of 2027. In the ruling, the court has told the federal government and provincial governments to facilitate all loans under an interest-free system.
