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SHEIKH INAYAT ALI versus NATIONAL BANK OF PAKISTAN THROUGH MANAGER

Constitution of Pakistan (1973), Article 199 Constitutional application Bank Petitioner / Investor invested $ 2 million in its monthly income scheme with the bank under Red Profit / Loss Sharing System in 2000 Gone. At the time of investing, the applicant earned a profit rate of 9% on the scheme, which earns $ 16,000 per month without the deduction of zakat. Subsequently, the bank periodically reduced the profit rate, resulting in the payment of profit of the year 2004 to Rs 4,463 per month, the bank had informed the applicant that the profit / loss exchange system. Which is the contract under which the applicant invested, should the bank have no fixed or other rate contract to pay the monthly income scheme and the rate of return on the profit / loss scheme to the deposit accounts? The Bank has announced with the prior approval of the State Bank of Pakistan. According to its BCD Circular, on 34 dated 26 11 1984, the applicant reiterated his main point that this is contrary to the fact that the bank's increasing profitability is due to the increase in profit rates on its profit / loss scheme accounts. The applicant should have carefully examined the deficiency. The record was presented, but there was no specific objection to the bank's financial statements and the PLC profit rate calculated under BCD Circular No. 34. Its profits increased substantially after tax in 2004 and the bank's net markup / interest income also increased during the same period, the bank's financial statements specified for BCD Circular No. 34 standards. And provide relevant information attorney vs advocate vs counsel from Akhora Khattak lawyer