I have made an indepth study of Mufti Muhammad Taqi Uthmaani Sahib's book, Islaam Aur Jadeed Ma' eeshat Wa Tijaarat (Islam and Modern Life and Trade). I have concluded that Mufti Saheb has embarked on an unsuccessful attempt to establish the capitalist system with the aid of Islam and the Shariat. While Islam has refuted this system, Mufti Saheb has, on the contrary, endeavoured to make Islam subservient to this (capitalist) system. But, we (Muslims) and our social, political life and systems are all subservient to the Shariah. Mufti Saheb has furthermore, attempted by the addition of the word, jadeed (modern), to present the system of the capitalists in the hues of the Shariah. This endeavour envisages monetary gain for the capitalists who will be led to believe that their gain is halaal profit. They will thus make use of such profit without understanding a sin to be sinful. This is truly loss in this world and in the Aakhirah.

ZAKAAT
Prior to this attempt, Mufti Sahib had issued a fatwa to enable the government to claim Zakaat from the banks. However, the Authorities of Fatwa and Knowledge had rejected this fatwa, explaining that Zakaat is not discharged in this manner. May Allah Ta' ala reward Mufti Abdus Salaam, Chief of Daarul Ifta Binnuritown munificently. He had elaborated with great detail on this issue in his Jawaahirul Fataawa, Vol. 3.

BANK INTEREST
Similarly, on 24th Rajab 1415 (28-09-1994) at a conference of the Muftis of Pakistan convened at Daarul Uloom Karachi, Hadhrat Mufti Saheb had abortively attempted to legalize bank interest on the basis of six Faasid Ta'weelaat (Corrupt Interpretations). This writer too had participated in the gathering. The Muftis, hearing the rakeekah (flimsy) interpretations of Mufti Sahib were bewildered and aghast. We have to congratulate Mufti Abdus Sattaar, Chief of Daarul Ifta Khairul Madaaris of Multan who rejected these interpreta-tions. In the evening this conference ended without legalizing interest.

You (O Reader!), are aware of the ultimate consequence of the fatwawhich Mufti Sahib had handed to Shah Faisal Bank and to N.I.E.Unit Trust. Similarly, (some) Ulama had issued a fatwa of permissibilityfor Alliance, without thinking what they were in reality embarkingon. Is this profit or not? Ask those who had lost their capital,about the trading in shares.