Federal Shariat Court has told Pakistan govt to make banking system interest-free by Dec 2027
In a long-pending case, the interest-based banking system in Pakistan has been declared against the Sharia. The verdict was given by the Federal Shariat Court (FSC) on Thursday.
In the ruling, the court has told the federal government and provincial governments to amend laws and make the banking system of the country interest-free by December 2027, media reports said.
The FSC has also directed the government to provide loans under an interest-free system.