ISLAMABAD: The Federal Shariat Court (FSC) will resume on March 24 hearing of a long-pending case on Riba.
The Shariat Court had held the interest or Riba as repugnant to Islam in 1992, but the Supreme Court in 2002 remanded the case back to it for reconsideration.
Some banks and financial institutions moved 67 appeals against the FSC judgement before the ShariatAppellate Bench of the Supreme Court. The appellate bench took years to hear the appeals and upheld the FSC verdict with a direction to the government to amend banking laws and statutes in the light of the judgement.
The banks filed a review petition before the Supreme Court which remanded the case back to the FSC in 2002. The Sharlat Court commenced preliminary hearing in 2013.
According to an FSC announcement, the court has heard the points of view of jurist consultants TahirMansuri and Dr Ayub of the Ripha University.
The FSC prepared a questionnaire to reconsider the view of contemporary jurists of the Muslim word and sent it to Dr Wahba Zuhaili, Dr Sami Ibrahim Al Suwailum, Dr Muhauiddin Al Qarah Daghi and Dr Ajeel Jasim Al Nashmi, seeking their views in the light of the Holy Quran and Sunnah.
The FSC has received the views of Dr Zuhaili and Dr Ibrahim, but a response from Dr Daghi and Dr Al Nashmi is awaited.