M. Aslam Khaki v. Syed Mohammad Hashim Supreme Court of Pakistan (2000) This case illustrates a...

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M. Aslam Khaki v. Syed Mohammad Hashim Supreme Court of Pakistan (2000) This case illustrates a classic case of the conflict between Islamic law and modern business. In 1991 the Federal Shariah Court of Pakistan declared the payment of interest (riba) by banks on loans and deposits to be contrary to Islamic law. During the 1990s, Pakistani banks adopted many banking techniques to avoid the payment of interest, such as equity investments, profit sharing, and service charges. The government, together with several banks, brought this appeal to the Supreme Court of Pakistan. The court's entire opinion was 1,100 pages long. Below are excerpts from the individual opinion of Maulana Justice Taqi Usmani, an Islamic scholar trained in strict Sharia law. As you read, consider the political overtones of the opinion and the economic analysis of interest that would be considered contrary to Western, capitalist economic theory 29. What was the decision in the M. Aslam Khaki v. Syed Mohammad Hashim case? How is the United Bank Limited v. Farooq Brothers and Others (PLD 2002 SC 800) case related to the M. Aslam Khaki v. Syed Mohammad Hashim case? (5 Points) Enter your answer M. Aslam Khaki v. Syed Mohammad Hashim Supreme Court of Pakistan (2000) This case illustrates a classic case of the conflict between Islamic law and modern business. In 1991 the Federal Shariah Court of Pakistan declared the payment of interest (riba) by banks on loans and deposits to be contrary to Islamic law. During the 1990s, Pakistani banks adopted many banking techniques to avoid the payment of interest, such as equity investments, profit sharing, and service charges. The government, together with several banks, brought this appeal to the Supreme Court of Pakistan. The court's entire opinion was 1,100 pages long. Below are excerpts from the individual opinion of Maulana Justice Taqi Usmani, an Islamic scholar trained in strict Sharia law. As you read, consider the political overtones of the opinion and the economic analysis of interest that would be considered contrary to Western, capitalist economic theory 29. What was the decision in the M. Aslam Khaki v. Syed Mohammad Hashim case? How is the United Bank Limited v. Farooq Brothers and Others (PLD 2002 SC 800) case related to the M. Aslam Khaki v. Syed Mohammad Hashim case? (5 Points) Enter your answer