I am of the view that your concept of Islamic banking on the basis of which you are heading Shariah Boards is entirely in conflict with Quranic Edict (Albaqarah 275-276 read with Albaqarah 41-42, Al-imran 77 and An nahl 95).

1. I am a servant of Allah and to Allah belongs the
sovereignty of the Heavens and Earth
February 14, 2012
Honourable Mr. Muhammad Taqi Usmani
Jamia Darul Uloom Karachi
Korangi Industrial Area,
Karachi. Tel: 35049774-6
My Dear Brother,
Walalaikum assalam wa rahmatullahe wa barakatuho
Please refer your mail dated 04/02/2012. I thought, that maybe, it is happening due to lack
of knowledge of ISLAMIC ECONOMIC MODEL (both graphs attached). So I requested
a meeting to explain personally SUPRASYSTEM and application of the basic law
to activate systems in conformation of SUPRASYSTEM
.
After viewing your referred books, I came to know about your judgment, based on your
understanding and views; I feel that you have gathered arguments from details, to isolate
actions from system and to prove the action as an Islamic act. This reflects cognitive
misunderstanding of ISLAM. Very strange!
The Historic Judgment on Interest reflects ignorance of the Shariah Appellate Bench to
apply fundamentals of the basic law in consonance with suprasystem
following the order/warning of Almighty ALLAH in surah Albaqarah -208
ۚ◌
(O you, who have believed, enter into Islam completely [and perfectly] and do not follow
the footsteps of Satan. Indeed, he is to you a clear enemy).
My observations are as:
All types of interest are prohibited in ISLAM
1) Prohibition of interest on credit/loan; Al-baqarah 275
َ‫م‬َ‫ك‬ ‫ﱠ‬‫ال‬ِ‫إ‬ َ‫ون‬ُ‫م‬‫و‬ُ‫ق‬َ‫ي‬ َ‫ال‬ ‫ا‬َ‫ب‬‫الرﱢ‬ َ‫ون‬ُ‫ل‬ُ‫ك‬ْ‫أ‬َ‫ي‬ َ‫ين‬ِ‫ذ‬‫ﱠ‬‫ل‬‫ا‬ُ‫ع‬ْ‫ي‬َ‫ب‬ْ‫ال‬ ‫ا‬َ‫م‬‫ﱠ‬‫ن‬ِ‫إ‬ ‫وا‬ُ‫ل‬‫ا‬َ‫ق‬ ْ‫م‬ُ‫ھ‬‫ﱠ‬‫ن‬َ‫أ‬ِ‫ب‬ َ‫ك‬ِ‫ل‬ َٰ‫ذ‬ ۚ ‫سﱢ‬َ‫م‬ْ‫ال‬ َ‫ن‬ِ‫م‬ ُ‫ان‬َ‫ط‬ْ‫ي‬‫ﱠ‬‫ش‬‫ال‬ ُ‫ه‬ُ‫ط‬‫ﱠ‬‫ب‬َ‫خ‬َ‫ت‬َ‫ي‬ ‫ي‬ِ‫ذ‬‫ﱠ‬‫ل‬‫ا‬ ُ‫م‬‫و‬ُ‫ق‬َ‫ي‬ ‫ا‬
َ‫م‬ ُ‫ه‬َ‫ل‬َ‫ف‬ ٰ‫ى‬َ‫ھ‬َ‫ت‬‫ان‬َ‫ف‬ ِ‫ه‬‫ﱢ‬‫ب‬‫ﱠ‬‫ر‬ ‫ن‬‫ﱢ‬‫م‬ ٌ‫ة‬َ‫ظ‬ِ‫ع‬ْ‫و‬َ‫م‬ ُ‫ه‬َ‫ء‬‫ا‬َ‫ج‬ ‫ن‬َ‫م‬َ‫ف‬ ۚ ‫ا‬َ‫ب‬‫الرﱢ‬ َ‫م‬‫ﱠ‬‫ر‬َ‫ح‬َ‫و‬ َ‫ع‬ْ‫ي‬َ‫ب‬ْ‫ال‬ ُ ‫ﱠ‬‫ﷲ‬ ‫ﱠ‬‫ل‬َ‫ح‬َ‫أ‬َ‫و‬ ۗ ‫ا‬َ‫ب‬‫الرﱢ‬ ُ‫ل‬ْ‫ث‬ِ‫م‬ِ‫إ‬ ُ‫ه‬ُ‫ر‬ْ‫م‬َ‫أ‬َ‫و‬ َ‫ف‬َ‫ل‬َ‫س‬ ‫ا‬ۖ ِ ‫ﱠ‬‫ﷲ‬ ‫ى‬َ‫ل‬
َ‫ون‬ُ‫د‬ِ‫ل‬‫َا‬‫خ‬ ‫ا‬َ‫ھ‬‫ي‬ِ‫ف‬ ْ‫م‬ُ‫ھ‬ ۖ ِ‫ار‬‫ﱠ‬‫ن‬‫ال‬ ُ‫اب‬َ‫ح‬ْ‫ص‬َ‫أ‬ َ‫ك‬ِ‫ئ‬َٰ‫ل‬‫و‬ُ‫أ‬َ‫ف‬ َ‫د‬‫َا‬‫ع‬ ْ‫ن‬َ‫م‬َ‫و‬

2. I am a servant of Allah and to Allah belongs the
sovereignty of the Heavens and Earth
Those who consume interest cannot stand [on the Day of Resurrection] except as one
stands who is being beaten by Satan into insanity. That is because they say, "Trade is
[just] like interest." But Allah has permitted trade and has forbidden interest. So whoever
has received an admonition from his Lord and desists may have what is past, and his affair
rests with Allah. But whoever returns to [dealing in interest or usury] - those are the
companions of the Fire; they will abide eternally therein.
2) Prohibition of compound interest; Al-imran 130
ۖ ً‫ة‬َ‫ف‬َ‫ع‬‫ا‬َ‫ض‬‫ﱡ‬‫م‬ ‫ا‬ً‫ف‬‫ا‬َ‫ع‬ْ‫ض‬َ‫أ‬ ‫ا‬َ‫ب‬‫ﱢ‬‫ر‬‫ال‬ ‫وا‬ُ‫ل‬ُ‫ك‬ْ‫أ‬َ‫ت‬ َ‫ال‬ ‫وا‬ُ‫ن‬َ‫م‬‫آ‬ َ‫ين‬ِ‫ذ‬‫ﱠ‬‫ال‬ ‫ا‬َ‫ھ‬‫ﱡ‬‫ي‬َ‫أ‬ ‫ا‬َ‫ي‬َ‫ُون‬‫ح‬ِ‫ل‬ْ‫ف‬ُ‫ت‬ ْ‫م‬ُ‫ك‬‫ﱠ‬‫ل‬َ‫ع‬َ‫ل‬ َ ‫ﱠ‬‫ﷲ‬ ‫وا‬ُ‫ق‬‫ﱠ‬‫ت‬‫ا‬َ‫و‬
O you who have believed, do not consume usury, doubled and multiplied,
but fear Allah that you may be successful.
3) Prohibition of interest on fund raising; Ar-rum 39
ۖ ِ ‫ﱠ‬‫ﷲ‬ َ‫د‬‫ن‬ِ‫ع‬ ‫ُو‬‫ب‬ْ‫ر‬َ‫ي‬ َ‫ال‬َ‫ف‬ ِ‫اس‬‫ﱠ‬‫ن‬‫ال‬ ِ‫ل‬‫ا‬َ‫و‬ْ‫م‬َ‫أ‬ ‫ي‬ِ‫ف‬ َ‫و‬ُ‫ب‬ْ‫ر‬َ‫ي‬‫ﱢ‬‫ل‬ ‫ًا‬‫ب‬‫ﱢ‬‫ر‬ ‫ن‬‫ﱢ‬‫م‬ ‫م‬ُ‫ت‬ْ‫ي‬َ‫ت‬‫آ‬ ‫ا‬َ‫م‬َ‫و‬َ‫ه‬ْ‫ج‬َ‫و‬ َ‫ون‬ُ‫د‬‫ي‬ِ‫ر‬ُ‫ت‬ ٍ‫ة‬‫ا‬َ‫ك‬َ‫ز‬ ‫ن‬‫ﱢ‬‫م‬ ‫م‬ُ‫ت‬ْ‫ي‬َ‫ت‬‫آ‬ ‫ا‬َ‫م‬َ‫و‬
َ‫ون‬ُ‫ف‬ِ‫ع‬ْ‫ض‬ُ‫م‬ْ‫ال‬ ُ‫م‬ُ‫ھ‬ َ‫ك‬ِ‫ئ‬َٰ‫ل‬‫و‬ُ‫أ‬َ‫ف‬ ِ ‫ﱠ‬‫ﷲ‬
That which ye lay out for increase through the property of (other) people, will have no
increase with Allah: but that which ye lay out for charity, seeking the Countenance of
Allah, (will increase): it is these who will get a recompense multiplied.
I would like to draw your attention toward, ayat -7 of Ale- imran read with
Albaqarah 41-42, Al-imran 77 and An-nahl 95
ۖ◌
He it is Who has sent down to thee the Book: In it are verses basic or fundamental (of
established meaning); they are the foundation of the Book: others are allegorical.
ِ‫ن‬‫و‬ُ‫ق‬‫ﱠ‬‫ت‬‫ا‬َ‫ف‬ َ‫ﱠاي‬‫ي‬ِ‫إ‬َ‫و‬ ً‫يال‬ِ‫ل‬َ‫ق‬ ‫ا‬ً‫ن‬َ‫م‬َ‫ث‬ ‫ي‬ِ‫ت‬‫ا‬َ‫ي‬‫آ‬ِ‫ب‬ ‫ُوا‬‫ر‬َ‫ت‬ْ‫ش‬َ‫ت‬ َ‫ال‬َ‫و‬ ۖ ِ‫ه‬ِ‫ب‬ ٍ‫ر‬ِ‫ف‬‫ا‬َ‫ك‬ َ‫ل‬‫ﱠ‬‫و‬َ‫أ‬ ‫وا‬ُ‫ن‬‫و‬ُ‫ك‬َ‫ت‬ َ‫ال‬َ‫و‬ ْ‫م‬ُ‫ك‬َ‫ع‬َ‫م‬ ‫ا‬َ‫م‬‫ﱢ‬‫ل‬ ‫ا‬ً‫ق‬‫ﱢ‬‫د‬َ‫ص‬ُ‫م‬ ُ‫ت‬ْ‫ل‬َ‫نز‬َ‫أ‬ ‫ا‬َ‫م‬ِ‫ب‬ ‫وا‬ُ‫ن‬ِ‫م‬‫آ‬َ‫و‬
And believe in what I reveal, confirming the revelation which is with you, and be not the
first to reject Faith therein, nor sell My Signs for a small price; and fear Me, and Me alone.
Now the question arises, whether, aayat Al-baqarah-275, Ale-imran-130 and Ar rum 39
are falling under the category of basics or allegorical. Surely these are basics of Quran, as
interest is basics of currency and fund raising system of modern world. Principle of
prosperity dictates, lower interest rate of central bank indicates financial strength of

3. I am a servant of Allah and to Allah belongs the
sovereignty of the Heavens and Earth
economy. That’s why ALLAH Subhanahu recommends zero interest rate, the lowest rate
for strongest economy of Muslim states.
* Shariah Appellate Bench has targeted only a/c holder in whole system for profit and
loss sharing, so that conventional banking, based on the polytheistic economic system,
can be marketed, with the help of monotheistic arguments, as an Islamic banking
through judgment on interest.
As the capitalist, acting as promoter/administrator, invests a
minimal/nominal amount of his own in the business (obtaining major funding at
concessional interest rates) but is entitled to retain full profit and be liable, in the case of
loss, only to the extent of his share holding, the underlying system is inherently oppressive
and unjust. It is, therefore, time to introduce a new ECONOMIC MODEL for replacing
the secular codes of capitalism which, due to its irrational structure, stands grounded
since the very beginning of the 21st
century.
Don’t you think? This act falls under Quranic edict Al-baqarah-9
َ‫ُون‬‫ر‬ُ‫ع‬ْ‫ش‬َ‫ي‬ ‫ا‬َ‫م‬َ‫و‬ ْ‫م‬ُ‫ھ‬َ‫س‬ُ‫ف‬‫ن‬َ‫أ‬ ‫ﱠ‬‫ال‬ِ‫إ‬ َ‫ون‬ُ‫ع‬َ‫د‬ْ‫خ‬َ‫ي‬ ‫ا‬َ‫م‬َ‫و‬ ‫وا‬ُ‫ن‬َ‫م‬‫آ‬ َ‫ين‬ِ‫ذ‬‫ﱠ‬‫ال‬َ‫و‬ َ ‫ﱠ‬‫ﷲ‬ َ‫ون‬ُ‫ع‬ِ‫د‬‫ا‬َ‫خ‬ُ‫ي‬
They [think]to deceive Allah and those who believe, but they deceive not except
Themselves and perceive [it] not.
*we cannot apply partnership rule partly, between bank and a/c holder to safeguard the
interests of Bank rather than a/c holder. Banks are still operating under the polytheistic
economic model. The polytheistic economic model, underlying capitalism and prevalent
in democratic countries/societies, is based essentially on credit and loan, a concept
anathema to the monotheistic economic model. Besides, while the Law of Algorithm
dictates the monotheistic economic model to originate in Plus One (+1), the polytheistic
economic model is based on Minus One (-1). The banks secure deposits from the general
public against promise to share profit and loss without guaranteeing the face value of the
pertinent currency prevailing in the local and international market at the time the money
was deposited. In case, therefore, of devaluation of currency, the depositors lose the net
worth of their deposits to the extent of devaluation. As happened with the Rupee, while
Rs.59.50/= were equal to one $ in 2005, NowRs.91/= are equal to one $. Practically, thus
the Rupee has lost 68.06% of original worth. In local market gold price of 10 grams was
Rs.8378/ in year 2005 and now 10 grams is Rs.50589. Six times lower in seven years. All
this is the result of credit/loan based economy and Govt. authority to print money without
the consent of stake holders.
We need partnership step by step in the whole system, not in one action only.

4. I am a servant of Allah and to Allah belongs the
sovereignty of the Heavens and Earth
*First of all, to establish a Government in partnership of four institutions: Education,
Commerce, Defence and Judiciary as an I.T. culture Form of govt
http://www.goodgovernance.org.pk/links/Supra_System2.html
*Secondly to establish a Monetary authority in partnership with banks and Chambers of
Commerce.
*Thirdly to transform bank ownership into Trust or partnership of a/c holders, managed
by professionals, controlled by public institutions and supervised by Govt.
*Fourthly transformation of all credits and loans into partnerships and all investments
must have public partnerships and citizens input by open debates.
*Fifthly empowering all financial educational institutions to inspect accounts and audited
reports as third party regularly through students (as future stakeholders).
*****
ECONOMIC MODEL
PREPARATION AND IMPLEMENTATION OF ECONOMIC MODEL
Economic benefits underlie all successful Unions of peoples and nations bound together in
relationships envisaging mutual necessity. However, economic advancement is possible only
when the prevailing economic system is, instead of being in conflict with the ideology and
religious reservations of the masses, harmonious with their aspirations.
The economic model suitable for the global power ascendant in the I.T. Culture needs to entail the
codes 0, 1, 2, 5 & 7 and make sure that all entities must exist above one, with those below one
being de-registered and disallowed to continue their operations, thereby transforming, in a
reasonable period of time, all investments from loans to partnerships.
In the case of the really needy citizens, a system of loans should be introduced with the guiding
principle of “payable when able”. The present economic system based on the principle of demand
and supply will, thus, be transformed into one built on commodity reserves (stores for
consumption) and the society will be reorganised for the promotion of compulsory savings.
Dependence on past saving is much better than selling/mortgaging the future.
I, hereby, request you, in the light of above references to please withdraw your FATWA
and confirm above to all.
I have done my part and now the case is in the court of Almighty Allah. We should all
keep in mind the warning in Al-baqarah-86

5. I am a servant of Allah and to Allah belongs the
sovereignty of the Heavens and Earth
َ‫ُون‬‫ر‬َ‫ص‬‫ُن‬‫ي‬ ْ‫م‬ُ‫ھ‬ َ‫ال‬َ‫و‬ ُ‫اب‬َ‫ذ‬َ‫ع‬ْ‫ال‬ ُ‫م‬ُ‫ھ‬ْ‫ن‬َ‫ع‬ ُ‫ف‬‫ﱠ‬‫ف‬َ‫خ‬ُ‫ي‬ َ‫ال‬َ‫ف‬ ۖ ِ‫ة‬َ‫ر‬ِ‫خ‬ ْ‫اآل‬ِ‫ب‬ ‫ا‬َ‫ي‬ْ‫ن‬‫ﱡ‬‫د‬‫ال‬ َ‫ة‬‫ا‬َ‫ي‬َ‫ح‬ْ‫ال‬ ‫ا‬ُ‫و‬َ‫ر‬َ‫ت‬ْ‫ش‬‫ا‬ َ‫ين‬ِ‫ذ‬‫ﱠ‬‫ال‬ َ‫ك‬ِ‫ئ‬َٰ‫ل‬‫و‬ُ‫أ‬
Those are the ones who have bought the life of this world [in exchange] for the Hereafter,
so the punishment will not be lightened for them, nor will they be aided.
I am available for any query or feedback on ISLAMIC ECONOMIC MODEL or
I.T CULTURE FORM OF GOVT.
Best wishes for a prosperous PAKISTAN.
SYED AMMAR BUKHARI
(Society Architect)
Cell: 0092-321-2345617 www.suprasystem.org www.islamicbanking.com.pk
Office: Ahbab House, Plot 174, Sector 30, Korangi Industrial Area, Karachi, Pakistan
www.maemaar.org.pk www.theradiantpath.org www.goodgovernance.org.pk
Attachments,
1) SUPRASYSTEM
2) MONOTHEISTIC ECONOMIC MODEL
3) POLYTHEISTIC ECONOMIC MODEL
4) I.T. CULTURE FORM OF GOVERNMENT

6. I am a servant of Allah and to Allah belongs the
sovereignty of the Heavens and Earth

7. I am a servant of Allah and to Allah belongs the
sovereignty of the Heavens and Earth
MONOTHEISTIC ECONOMIC MODEL
Origin:
Design Code: Circle
Metonym Code: 0,1,2,5,7
Binding Force: Rope
Position: Centre and angle

8. I am a servant of Allah and to Allah belongs the
sovereignty of the Heavens and Earth
POLYTHEISTIC ECONOMIC MODEL
Modern Origin: Algorithm SINCE 1830
Design Code: Pyramid
Metonym Code in Europe: 3,4,8,9
Metonym Code in U.S.A: 1,3,5,7,9
Binding Force: Chain
Position: Corner and Edge

9. I am a servant of Allah and to Allah belongs the
sovereignty of the Heavens and Earth