28.02.2012 - Shariah compliance and public sector borrowing
As the debate on public sector borrowing intensified in the wake of the recent US debt crisis, and before that the adverse budgetary situations in a number of European countries, including but not limited to Greece and Ireland, led to political debate on the issue, it would be instructive to look into Shariah guidelines for public debt. The issue is also relevant to a number of Muslim countries, including Pakistan, where Shahid Kardar, the former governor of the State Bank of Pakistan, resigned perhaps because of disagreement over the government’s stance over public debt...............................................Full Article: Source
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