Recently Iran agreed to export 80,000 barrels crude per day to Pakistan. Pakistan requested a loan of $500 Million from Iran for the pipeline to be built. Iran refused for $500 million but agreed for half the amount – $250 million. This loan of $250 million doesn’t have the interest rate decided or the loan repayment length. The fun does end here. Russia is “pressuring” Pakistan to award a $1.2 Billion Oil Pipeline ‘no-bid’ contract to Gazprom, a Russian firm that has used its economic clout for political gains in Europe.
Pakistan is a nation with an overwhelming population of around 98 percent Muslims. So, it is no surprise that money earned from businesses involving practices that are strictly prohibited in the light of Quran and Islamic Shariah are considered Haram. For example, income from gambling, prostitution, selling of alcoholic beverages, porn and interest are all Haram for a Muslim.