Law:

Section:

(a) Constitution of Pakistan (1973)-------Art. 227---Provisions relating to the Holy Qur'an and Sunnah---Islamic values shall have to be adopted and commitment to enforcement of Shariah have to be manifested if enforcement of Sharjah is to be made a living reality---Concerned quarters will have to exhibit necessary vigilance to check and eliminate violations of law. (b) Constitution of Pakistan (1973)--- ----Art. 203-F---Shariat Appellate Bench of Supreme Court can only examine the relevant law in the light of the Holy Qur'an and Sunnah. (c) House Building Finance Corporation Act (XVIII of 1952)--- ----S. 4(2) [as amended by House Building Finance Corporation (Amendment) Act, 1979---Constitution of Pakistan (1973), Art.203-F--­Repugnancy to Injunctions of Islam---Word "interest" occurring in S.4(2) of the Act, though was substituted by word "return" by the House Building Finance Corporation (Amendment) Order, 1979, but same being based on fixed rate which may include interest, though with a different name, S.4(2) of the Act required to be suitably amended so as to clarify, that instead of a return based on a fixed rate relating to the capital, a proportionate share in the income of the Corporation may be given to the Federal Government--­Principles. (d) House Building Finance Corporation Act (XV1a of 1952)--- ----S. 21(2)---Constitution of Pakistan (1973), Art.203-F---Repugnancy to Injunctions of Islam---Provisions of interest in S.21(2), House Building Finance Corporation Act, 1952 are un-Islamic, and therefore, repugnant to Injunctions of Islam to that extent. Muhammad Aslam Khaki v. Federation of Pakistan and others PLD 2000 SC 225 fol. (e) House Building Finance Corporation Act (XVIB of 1952)--- ----Ss.24(11)(12)(18) & (20)---Investment Regulations, 1979, Reglns.14(1) (2) & 15(1)(2)---Constitution of Pakistan (1973), Art.203-F---Repugnancy to Injunctions of Islam---Process laid down for assessment of the rental income and fixation of the share of Corporation therein being arbitrary and against the spirit of partnership, insertion of a proviso was necessary to the effect that the partner would have a right to place the matter before a higher…

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