FSC reserves judgment in the case pertaining to usury system.

ISLAMABAD -- Federal Shariat Court (FSC) has reserved the judgment on the case pertaining to usury system.

A 3-member bench of FSC presided over by Chief Justice Noor Muhammad Meskanzai took up the petitions filed against usury system for hearing Tuesday.

No representative from interior ministry could appear in the court during the hearing of the case.

Aslam Khaki counsel for United Bank Ltd (UBL) took the plea meeting between president and attorney general on this matter is not in his knowledge. More time be given. It has to be seen the bank schemes which have been challenged either fall in the definition of riba or otherwise.

The court remarked no scheme was challenged before us.

Counsel for UBL took the plea depositing money in...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT