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Defendants Suit No. 1812 of 1999 and Civil Miscellaneous Applications Nos. 1356 and 1357 of 2000, decided on 23rd February, 2001. (a) Banking Companies Ordinance (LVII of 1962)-------Ss.41 & 42---BCD Circular No.13, dated 20-6-1984---BCD Circular No.32, dated 26-11-1984---Introduction of Circulars by the State Bank of Pakistan---Object and scope- --Circulars required the shifting of the then banking system based or. 'Interest' into banking based on Islamic mode of financing---Concept of BCD Circular No.13, dated 20-6-1984 was that the same was for the purpose of Islamisation of Banks which was part of the global change in Pakistan for Islamisation of the economy in generality-- BCD Circular No. 13, thus, came into existence to place the Banks in line for their transformation. (b) Banking Companies Ordinance (LVII of 1962)-------Ss.41 & 42---BCD Circular No. 13, dated 20-6-1984---Introduction of the Circulars by State Bank of Pakistan---Islamisation of Banking System in Pakistan-- Commencement of transitional period---Judgment by Supreme Court in case of Dr. M. Aslam Khaki reported as PLD 2000 SC 225-- Applicability---Laws by which the Banking business was to be conducted was set moving from the year, 1962, and a concrete law was enforced from 1-1-1985---BCD Circular No. 13, dated 20-6-1984, had stated the transitional period given to the Banks for the purpose of transition from old system of banking into the Islamic System of Banking---Contention that the judgment by the Supreme Court in case of Dr. M. Aslam Khaki would be operative from the date mentioned in it as regards the banking transition was repelled. Dr. M. Aslam Khaki,v. Syed Muhammad Hashim PLD 2000 SC 225 ref. (c) Banking Companies Ordinance (LVII of 1962)-------Ss.41 & 42---BCD Circular No.13, dated 20-6-1984---BCD Circular No.32, dated 26-11-1984---Islanusation of banking system---Constitution of Shariat Board---Object and purpose ---Shariat Board was to arrange for exchange of information for the evaluation of the practice and for providing guidance of successfully managing the Islamic economy---Islamic economy is in its totality the economy of the country and laws in respect…