The Prime Minister’s Youth Loan Scheme has been widely publicised by the government and it has been said to help millions of young people start their businesses. However Administrator and Shaikh Ul Hadith of Jamia Binoria Karachi, Mufti Mohammad Naeem has said that this scheme is totally Un-Islamic and Haram.
The Youth Scheme is based upon the principles of Interest, making it completely Haram according to Mufti Mohammad Naeem. He also urged people not to take loans from this scheme as both the loaners and receivers under this scheme would be guilty of a serious sin which is equivalent to open revolt against Allah.
Mufti Mohammad Naeem also say that the strict conditions of the Youth Loan Scheme made it look like the government had opened new doorways to corruption and if the Prime Minister really wants to help the youth he should provide them interest free loans or create more employment opportunities.
He said that displeasing Allah in this way would further destroy the country’s economy as Allah and Prophet Mohammad( Pbuh) have clearly condemned the practice of interest. He said that the government should be focused towards bringing peace and solving the power crisis which is what this country and its economy really needs.