Renowned Islamic scholar Mufti Muhammad Taqi Usmani has asserted that keeping a deposit in an Islamic bank and earning profits from it is completely halal, aligning with the principles of Islamic finance. He emphasized that such profits are generated through Shariah-compliant investments, ensuring that all transactions are free from interest (riba) and unethical practices.
Addressing the nation’s current economic challenges, including a shortage of foreign exchange, Mufti Usmani criticized the government’s reliance on the International Monetary Fund (IMF), saying, “Imports are not being banned due to IMF restrictions. We are slaves to the IMF, and our children are in debt today,” highlighting the financial constraints the country faces.
The Shaykh-ul-Islam expressed difficulty in implementing the Islamic financial system through the current political framework, given these challenging circumstances. He called for long-term, strategic policies similar to those used by think tanks worldwide and urged the government, business community, and citizens to refrain from purchasing imported products, particularly from nations that are antagonistic to Muslims.
Mufti Usmani stated, “Think about it, why are we slaves to international institutions? We need a movement that refuses to order imported things, especially from enemies who are cutting the throats of Muslims.” His call for self-reliance and economic independence resonated with the need for a unified national stance against foreign influence.
