Tag: Pakistan

Remembering Dr. Umer Chapra

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Dr. Umer Chapra was born on February 1, 1933, in Bombay, British India. Chapra’s family moved to Karachi following the 1947 partition. Despite early financial hardships after his father passed away when Chapra was only six, his mother prioritized his education. This investment paved the way for an extraordinary academic trajectory. He attended the University of Karachi, topping his class to earn a Bachelor of Commerce (B. Com) in 1954, followed by a Master of Commerce (M. Com) in 1956. In 1950, out of 25,000 students who sat for the high school leaving examinations in Karachi, Chapra topped the list, earning the prestigious Model Student title.

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IEP Forum on FSC Verdict on Riba: Experts View – Mufti Dr. Irshad Ahmed Aijaz

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Mufti Irshad Ahmed Aijaz

Islamic Economics Project is making a humble effort to collect the views of Shari’ah scholars, regulators, practitioners, lawyers and academic experts to deliberate on the future course of action and generate ideas and debate on how to make this transformation possible. In this regard, we got the chance to get reaction and response from Mufti Dr. Irshad Ahmed Aijaz. We hope that the views expressed and shared with relevant audience and stakeholders will generate practicable ideas and keep the momentum towards achieving the end goal of an economy that is in compliance with Shari’ah and is able to utilize the instruments and institutions in the Islamic economic teachings.

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Issues in the Implementation of Ushr in Pakistan

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The major issue is that the government has not been active in the collection of Ushr. Furthermore, historically, it never achieved its true potential in terms of the amount collected due to the trust deficit between the government and the landowners. It is also a fact that some greedy landlords try to evade it. On the other hand, poor knowledge about Ushr among the landowners results in the meager collection of Ushr at the national level.

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