Manifesto Theme 03

Economy & Interest-Free Banking (MBC)

The party's published economic treatises on the complete elimination of Riba, the alternative MBC System, and wealth circulation as documented in party literature.

Party Manifesto: Point 8 (Urdu Edition, pp. 20–24) / pp. 44–51 (English Translation Compilation) • 'Islamic Banking System Treatise'

Documented Economic Theses

The Six Tenets of Anti-Riba Reformation

Preserved across pages 44 to 51 of the official English compilation, the movement outlines its specific critique and alternatives to interest-based finance:

Party's Documented Position on the Absolute Prohibition of Riba

Manifesto (English Translation Compilation), pp. 44–47

Surah Ar-Rum 30:39, An-Nisa 4:161, Aal-e-Imran 3:130, Al-Baqarah 2:275–281 (cited on pp. 46–47)

The party states that interest (Riba) is unequivocally forbidden under Quranic law, citing four specific Surahs. It rejects legal compromises that categorize commercial banking interest as distinct from prohibited usury, asserting that compounding interest causes severe societal and mental distress.

Documented Policy Proposals:

Cites Quranic verses in Surah Ar-Rum (30:39), An-Nisa (4:161), Aal-e-Imran (3:130), and Al-Baqarah (2:275–281) commanding the total surrender of outstanding interest.
Asserts that the divine prohibition applies equally to institutional, commercial, and private financial contracts.
Argues that interest-based debt traps exacerbate inflation, unemployment, and systemic economic inequality.

Party's Documented Critique of Commercial 'Islamic Banking'

Manifesto (English Translation Compilation), pp. 47–48

The manifesto presents a documented critique of prevailing commercial Islamic banking practices, arguing that mechanisms such as murabaha, takafal, and rental-share financing merely re-label conventional interest without changing the underlying debt-based structure.

Documented Policy Proposals:

Contends that profit-and-loss sharing and markup models in practice replicate conventional banking returns.
Argues that over 300 institutions globally operate under the banner of Islamic banking without eliminating compounding debt.
Calls for establishing genuinely interest-free productive models rather than cosmetic religious terminology.

Party's Documented Statutory Audit of 23 Financial Laws

Manifesto (English Translation Compilation), pp. 48–49

The party documents 23 specific acts, ordinances, and regulatory rules—dating from the colonial Interest Act 1839 to the Banking Companies Ordinance 1962—which it identifies as statutory barriers legally enforcing interest throughout Pakistan's economy.

Documented Policy Proposals:

Lists statutes including The Interest Act 1839, Negotiable Instruments Act 1881, and SBP Act 1956.
Notes contradictions between provincial money-lending prohibitions and commercial banking protections.
Advocates comprehensive legislative repeal of statutory provisions that legally enforce interest claims in civil courts.

Party's Documented Proposal for a Riba-Free Bait-ul-Maal

Manifesto (English Translation Compilation), p. 50; Surah Al-Baqarah 2:261 cited

Surah Al-Baqarah 2:261 (parable of the grain multiplying wealth, cited on p. 50)

Citing Surah Al-Baqarah 2:261, the party proposes centralizing a Riba-free Bait-ul-Maal financed through mandatory 2.5% Zakat from registered adult Sahib-e-Nisab citizens to fund emergency welfare, healthcare, education, and interest-free credit.

Documented Policy Proposals:

Universal registration of adult citizens for transparent 2.5% annual Zakat collection from Sahib-e-Nisab individuals.
Dedication of Bait-ul-Maal reserves to guarantee basic sustenance, housing, healthcare, and education.
Utilization of public reserves to stabilize consumer prices and combat inflation.

Party's Documented Mechanism for Interest-Free Lending

Manifesto (English Translation Compilation), p. 50; Surah Al-Baqarah 2:280 cited

Surah Al-Baqarah 2:280 ('If the debtor is in difficulty, grant him time', cited on p. 50)

The party proposes an interest-free lending program for domestic, trade, and business expansion. Under this documented proposal, borrowers register online and provide an undated security check returned upon loan fulfillment, with forbearance granted in line with Surah Al-Baqarah 2:280.

Documented Policy Proposals:

Simplified online registration for interest-free business, housing, and agricultural loans.
Security provided through an undated check returned in full upon debt repayment.
Documented prohibition against usurious penalties, foreclosures, or confiscatory collateral demands.

Party's Documented MBC System and Labor Valuation

Party Banking Treatise & Manifesto (English Translation Compilation), p. 51

Documented in the party's dedicated banking treatise, the movement outlines the Movement Business/Coupon (MBC) circulation model and labor-backed notes to stimulate tangible production, prevent speculative hoarding, and tie circulating credit directly to physical labor.

Documented Policy Proposals:

Introduction of the MBC (Movement Business/Coupon) circulation model to facilitate interest-free trade.
Proposals for labor valuation to ensure wages correspond directly to productive physical effort.
Encouraging public suggestions and technological feedback for the practical operationalization of interest-free commerce.

Authentic Source Excerpts

Direct Passages from Economic Chapters

Unedited excerpts documenting the party's published positions on banking and interest:

“All these verses which mostly & strictly forbid usury and condemn the practice of 'Riba' were revealed in Madina. These verses clearly state that 'Riba' and trade are not the same but two different things.”
Party Manifesto (English Translation Compilation), p. 47

“There are scores of methods in financing by which permissible Islamic profit can be obtained... a programme would be formed, under the proposed system, to issue interest-free loans under a very easy procedure, for the expansion of business or for setting-up a new trade or for the construction of houses.”
Party Manifesto (English Translation Compilation), p. 49

“To free the world from the prohibited and to raise funds for the establishment of a Riba-free Bait-ul-Maal, and for fair circulation of wealth according to the Quranic verse 261 of 'Al-Bakara'... all the adult citizens would be registered and 2.5% Zakat would be taken from those who come under its rules.”
Party Manifesto (English Translation Compilation), p. 50

Islamic Banking System: Real Face and Alternatives

Specialized Policy Publication

Literary Source: Banking Treatise

Islamic Banking System: Real Face and Alternatives

Anti-Interest & The Movement Business/Coupon (MBC) System

Authored by Sardar Altaf Hussain Anwar, this comprehensive economic treatise provides the theoretical analysis against Riba, examines statutory barriers to interest-free financing, and presents the alternative MBC circulation model.

Economic Treatise • Authored by Altaf Hussain Anwar • Comprehensive Anti-Riba Analysis