Federal Shariat Court dispose of Shariat petition.

ISLAMABAD -- A bench of The Federal Shariat Court has disposed of the Shariat petition regarding House Building Finance Corporation Act, 1952.

The bench comprised Justice Dr. Syed Muhammad Anwer, Chief Justice and Justice Khaidm M. Shaikh, said a press release.

The House Building Finance Corporation Act 1952, was challenged by the petitioner on the ground that Section 28 of the Act gives unfettered power to the House Building Finance Corporation to sell out the house of a borrower in case of default in repayment of the loan amount, which renders the Corporation into a money lender engaged in usury, which was forbidden by the express command of the Holy Quran.

The Bench, after perusal of record and hearing the parties, held that the said Act has already been repealed by the Federal Government through HBFCA 2018 (Repeal) Act.

However, it was noted by the Learned...