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Naya Pakistan Islamic Certificate
What is Ghamidi sb opinion on the Naya Pakistan Islamic certificates launched by the state bank of pakistan.
As per the information on the website it is based on mudarba.State bank of Pakistan has set up a special company under its umbrella. This company will lend money to the government of Pakistan
Please advise
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3 Replies
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Naya Pakistan Islamic Certificate
updated 2 years, 4 months ago
2 Members
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3
Replies
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According to the link below, the ‘Naya Pakistan’ certificates are structured as investments as opposed to loans, hence there’s no question of riba in them. One can freely invest in these certificates.
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I asked this question back in 2021. Now in a reply to question relating to zakat on these certificates you have related this investment to government saving scheme. Please advise if your opinion earlier where you said that there is nothing wrong with investing in These islamic certificates has changed.
Regards
Rashid Iqbal
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No it has not changed. I don’t know which reply you might be referring to. According to the web site link shared above this particular scheme is structured as an investment instead of a loan. Riba is only a concern in loan transactions. Generally government saving schemes are structured as bonds or loans and their profits are considered riba.
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