The National Assembly of Pakistan passed a bill that proclaimed interest on private loans as a crime.
The National Assembly of Pakistan passed a bill on Feb23,2021 titled “Islamabad Territorial Interest Interest Prohibition Act 2021” claiming interest as a battle against the Quran and Sunnah.
It also proposed a sentence of up to 5 years in jail or up to 500,000/-a fine for the felony of collecting interest on loans.