The Peshawar High Court on Tuesday heard a petition challenging the IMF loan program, with allegations that its interest-based agreements violate Islamic teachings.
Chief Justice Ishtiaq Ibrahim and Justice Ejaz Anwar presided over the hearing.
The petitioner, Khalid Shah, requested the court to summon detailed records of the IMF loan program, arguing that it involves interest-based loans, which are strictly prohibited in Islam. He added that engaging in interest-based transactions contradicts the clear commands of Allah, who categorically forbids interest in all forms.
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“Islam views interest as a war against Allah, and these agreements under the IMF loan program undermine our commitment to an Islamic economic system,” Khalid Shah asserted. The petitioner criticized the President and the Prime Minister for violating their constitutional oaths by endorsing the IMF loan program.
He claimed that their actions breached their commitment to upholding Islamic principles, as sworn in their oaths of office. Khalid Shah further demanded their removal from office for disregarding their constitutional duties.
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Additionally, he called on the Khyber Pakhtunkhwa government to dissociate itself from the federal government’s agreements under the IMF loan program. He argued that the provincial government must publicly declare its stance to align with Islamic teachings and demonstrate its independence from such policies.
After hearing the arguments, the court remarked, “We will issue an order on this matter,” and directed the concerned authorities to submit a detailed response. The hearing was then adjourned. The petition has reignited public debate on the implications of the IMF loan Programme, with demands for greater adherence to Islamic principles in financial agreements gaining momentum.
