انسدادِ سود کے لیے اسلامی نظریاتی کونسل کی سفارشات کا جائزہ

Abstract

The Council of Islamic Ideology (CII) is a constitutional body that advises the legislature whether or not a certain law is repugnant to Islam, namely to the Qur’an, and Sunnah. In view of the clear and unequivocal commandments of the Holy Qur’an on the elimination of Interest (riba) is the bounden duty of an Islamic State. Similarly the Constitution of Pakistan has also declared duty of the government to eliminate riba as early as possible. The Council of Islamic Ideology from its inception has given recommendations to eliminate riba from economy. The President of Islamic Republic of Pakistan directed the Council on September 29^th, 1977 to consider how best to “eradicate the curse” of interest. The Council submitted reports with some practical and viable solutions. This paper has focused on the efforts and recommendations of the CII for the elimination of riba from economy. The paper has also highlighted the impact of the recommendations in modern era, the State Bank of Pakistan has adopted the recommended modes of financing for all banks during 2008.