17:02 GMT +323 September 2019
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    Social Media Erupts as Pakistani Cleric Calls Dollar Hoarding a Grave Sin

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    A spike in the exchange rate was seen after Pakistan inked a three-year deal with the International Monetary Fund (IMF) for a $6 billion bailout package. Last week, Pakistani Prime Minister Imran Khan ordered action against dealers and companies selling American dollars at higher rates.

    New Delhi (Sputnik): Pakistani Islamic scholar Mufti Mohammad Taqi Usmani has described buying and hoarding dollars with a hope of value appreciation as a grave sin, amounting to disloyalty to the Islamic Republic of Pakistan.

    Mufti Mohammad Taqi, belonging to the Darul Uloom Korangi seminary, recently survived an assassination attempt in Pakistan's port city of Karachi in March 2019. Having served as a judge at the federal Sharia court, he advises eight Pakistani banks on Islamic banking.

    According to the mufti, people engaging in hoarding are cursed by Allah.

    READ MORE: Pakistan to Get $6 Billion Over Next 3 Years After Reaching Deal — IMF

     

    There were some who found the mufti's views a bit too much to stomach.

    READ MORE: Pakistan to Sign Second Free Trade Agreement With China to Boost Ailing Economy

    One Twitter, users rued that the mufti refuses to criticise the government, which is responsible for the devaluation of the Pakistani rupee vis-a-vis the US dollar.

    There were also those who took the words of the Islamic scholar with reverence.

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    Tags:
    Islamic banking, Sharia law, reaction, social media, International Monetary Fund, Pakistan
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