Renowned Islamic scholar Mufti Taqi Usmani on Monday stressed the need for eliminating the interest-based system from the country, reported 24NewsHD TV channel. 

Speaking at the World Islamic Finance Forum in Karachi, he said there could be no improvement in the world economy without doing away with the ‘interest’. “It is because of usury that the economies of the world’s wealthiest countries are struggling,” he argued. 

Mufti sab said it was high time the government implemented the Federal Shariat Court (FSC) order regarding interest.