Mirwaiz For Islamic Banking System In Valley

Mirwaiz For Islamic Banking System In Valley

12 August 2011
Rising Kashmir
Ishfaq Ahmad Shah

Srinagar: Terming interest based banking as un-Islamic, Hurriyat Conference (M) chairman Mirwaiz Umar Farooq Friday urged the Jammu and Kashmir Bank to take lead in introducing Islamic banking system in the Valley and appealed people to convert their saving bank accounts into current accounts. He also said hanging of Mohammad Afzal Guru will have dire consequences and render India-Pakistan peace process “meaningless.” “Although we are a Muslim majority state, our system has many such policies which are anti-Muslim and anti-Islamic. At the top is the interest-based banking system. I appeal Muslims, economic and banking sector experts to come up against this anti-Islamic system and work for implementation of Islamic banking system in Kashmir,” Mirwaiz said while addressing Friday congregation prayer at historic Jamia Masjid, here. He said when Islamic banking has been adopted by most of Muslim countries and many non-Muslim majority countries across the globe, then why it was not being applied here? “Reserve Bank of India (RBI) should have no problem towards introduction and implementation of Islamic banking in Kashmir. If RBI creates any hurdle against it, then J and K Bank and people associated with the economic industries should oppose it. They should work for speedy implementation of Islamic banking system in Kashmir,” Hurriyat (M) chairman said. Terming interest based banking as un-Islamic, he said, “I urge people to convert their Saving bank accounts into current accounts. Hurriyat is going to organize an awareness campaign during and after Ramadan and I appeal banks to show seriousness towards introducing Islamic banking system in Kashmir. J&K Bank should take lead in this regard”. Referring to Union Home Ministry’s rejection of Afzal Guru’s mercy plea, Mirwaiz said, “On one hand India is talking about dialogue and on other hand was creating hurdles by “such acts.”. Will hanging Guru be a Confidence Building Measure (CBM)”. “If GoI hangs Guru, the whole peace process between India Pakistan will come to a grinding halt. The situation that will arise after this will render everything meaningless. I warn Government of India not to take such a step India and it will be responsible for all the consequences,” he said. He castigated right wing Hindu parties for politicking Guru’s death penalty. “BJP and other right wing Hindu parties are doing politics over the issue for their vote banks,” he alleged. Mirwaiz asked the government to stop the ongoing crackdown on youth. “We condemn the police crackdown on youth even during month of Ramadan. I appeal government to stop this crackdown, otherwise it will have to face serious consequences,” he said. He also condemned the killing of a Hindu youth by troops in a fake encounter in Poonch. Hurriyat (M) chairman also expressed solidarity with Traders Federation, whose leaders were cane charged by police after they protested against tax hike.


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