Jamaat-e-Islami lawmaker Mujibur Rahman today called for replacing Bangladesh’s interest-based economic system with a zakat-based alternative, saying the country must “bury” the existing model and adopt the economic principles of Madinah.
Speaking during the general discussion on the 2026-27 national budget in parliament, the Rajshahi-1 MP criticised the finance minister’s 34-page budget speech for making no mention of zakat, despite its prominence in Islamic economic theory.
Mujibur proposed establishing a separate ministry for zakat collection and forming a committee of Islamic scholars to oversee the system. He claimed a proper zakat collection could generate nearly Tk 2 lakh crore annually which is sufficient to finance a zakat-based economy without relying on interest-based borrowing.
The Jamaat MP also criticised the government’s dependence on loans, arguing that while borrowing may sometimes be necessary, the state should not use debt to finance consumption.
“We cannot run the country like beggars. We have to run it with our own resources,” he said.
He cited Islamic banking as proof that interest-free financing is viable, noting that the success of Islami Bank had prompted other commercial banks to introduce Islamic banking windows.
On other budget provisions, Mujibur opposed the whitening of undisclosed income, saying black money cannot be made “halal” through penalties. He welcomed increased duties on alcohol and bidi, and called for government support to Qawmi madrasas and their inclusion in welfare programmes for school uniforms and shoes.
Mujibur also demanded budgetary allocations for educational institutions under the Monthly Pay Order (MPO) scheme, fair wages for workers, and emphasis on sustainable employment over welfare cards to address poverty.
“People do not want cards; they want work,” he said.
