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Islamic economics in Pakistan : ウィキペディア英語版
Islamic economics in Pakistan

The Islamization of the economy of Pakistan,〔 refers to economic policies that started with General Muhammad Zia-ul-Haq's "Islamisation" programme. Under this programme, Pakistan was to begin bringing Pakistani society—including economic regulation, taxation, etc. -- in line with the principles of Sharia law. General Zia-ul-Haq signed and issued executive decrees on ''Zakāt (poor-due), ''Ushr'' (Tithe), elimination of ''mudarabah'' (profit-sharing), and perhaps most importantly, termination of ''riba'' (defined by activists as interest charged on loans and securities).〔
Conceived in late 1977 and carried out during his reign, the programme came in response to an upsurge in Islamic activism, and the problems and controversies associated with the policies of Zia's predecessor, Prime Minister Zulfikar Ali Bhutto. Zia's stated intention was to "eradicate the scourge of interest" on loans and securities, and create an "interest-free economy". On January 1, 1980, approximately 7,000 interest-free counters were opened at all the nationalized commercial banks, making Pakistan the first country in the Muslim world with Islamic banking.〔
However, in spite of the public support allegedly demonstrated for it (and other Islamisation policies) by the 1984 Islamisation referendum and the programme's initial gains and success, it failed to achieved international targets and to meet commercial interactions with other major international banks.〔 Islamic activists were also displeased that Zia's ordinances and proclamations did not ban interest paying accounts.
Zia's successors were not as active in their pursuit of Islamisation. While conservative Prime minister Nawaz Sharif publicly supported Islamisation, his economic policies focused on privatization and economic liberalization.〔See: Privatization in Pakistan and Economic liberalisation in Pakistan〕 Many Pakistani economists and business people worry that an attempt to impose an Islamic economy on Pakistan could
have "devastating economic, political, and social consequences for the country", though others (such as governor of the State Bank of Pakistan, Ishrat Husain), have termed fears of Islamlisation "absurd" and based on Western stereotypes. Islamisation continued through the efforts of the Islamic courts Zia created, but the efforts of the activists on the Shariat Appellate Bench of the Supreme Court to ban interest came to naught when the government of Pervez Musharraf came to power and pressured a number of activist judges to retire.〔
==History and background==
As a state created for Muslims, Pakistan has long had Islamic activists advocating the elimination of ''riba'' (financial interest) in that country. But enthusiasm for Islamisation has waxed and waned throughout Pakistan's history. Waxing when "religious elements are in ascendancy", such as during partition, the 1977 Nizam-e-Mustafa movement, and during the rise in fundamentalist after 2000. At other times "only lip service" is paid to the issue.〔Asi, Anwar, "Towards Islamic banking system", 2002 (dead link)〕
Article 28 of Pakistan's 1956 Constitution called for the elimination of ''riba'' “as early as possible”. The 1962 Constitution provided in the principles of policy that “usury” should be abolished. Similar provisions were found in the 1973 Constitution.〔 In 1969 the state-sponsored advisory body known as the Council of Islamic Ideology (CII), declared that Pakistan’s banking system was “fundamentally based upon ''riba''”, and unanimously called for its elimination.〔
The mid and late 1970s were a time of Islamic revivalism throughout parts of the Muslim world, including Pakistan. Zia's predecessor, leftist Prime Minister Zulfikar Ali Bhutto faced economic problems of stagflation and opposition to his programme of nationalization and land reform. In 1976 and 1977, vigorous opposition united under the revivalist banner of ''Nizam-e-Mustafa'' ("Rule of the prophet"). Establishing an Islamic state based on sharia law would mean a return to the justice and success of the early days of Islam when the Islamic prophet Muhammad ruled the Muslims, according to supporters of the movement.
In an effort to stem the tide of street Islamization, Bhutto had also called for Islamisation and banned the drinking and selling of wine by Muslims, nightclubs and horse racing.〔
Less than two years after the coup, Pakistan's Shia neighbor, Iran, saw a very unexpected Islamic revolution overthrow its well-financed pro-Western, secular monarchy. Although rivals in doctrine and geopolitics, both the new self-proclaimed revolutionary Islamic Republic of Iran and the conservative Wahhabi Kingdom of Saudi Arabia believed in the necessity of Islamic sharia law for Islam to survive and prosper and the need to spread this doctrine to other Muslim states.
Confrontation between Bhutto's PPP and the opposition Pakistan National Alliance, street protests, loss of life and property, all preceded the military overthrow of Zulfikar Ali Bhutto by Zia in 1977. On coming to power, Zia committing himself to enforcing ''Nizam-e-Mustafa'',〔 a significant turn from Pakistan's predominantly secular law, inherited from the British.

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