Latest news with #SharmilaFaruqui
Business Recorder
2 days ago
- Politics
- Business Recorder
President signs bill criminalising child marriages into law
ISLAMABAD: President Asif Ali Zardari has signed the Child Marriage Restraint Bill into law, criminalizing marriages of individuals under 18 years of age. The bill, previously passed by both the National Assembly and the Senate, was introduced by Sharmila Faruqui in the National Assembly and Sherry Rehman in the Senate. The new law imposes strict penalties to curb child marriages and protect minors. Under the legislation, marriage officiants are prohibited from conducting ceremonies involving anyone under 18, with violations punishable by up to one year in prison and a PKR 100,000 fine. Men over 18 marrying girls under 18 face up to three years of rigorous imprisonment. Forcing a minor into marriage carries a penalty of up to seven years in prison and a fine of up to PKR 1 million. Additionally, facilitating or trafficking for child marriage is a non-bailable offence, punishable by up to seven years in jail and fines, while abetting such marriages incurs up to three years' imprisonment and a fine. The law mandates courts to conclude related cases within 90 days and classifies cohabitation with a minor under 18 as abuse. It also requires authorities to intervene if they become aware of a planned child marriage. However, the Islamic Ideological Council has previously declared the bill and its penalties 'un-Islamic,' raising concerns about its alignment with religious perspectives.
Arab News
3 days ago
- Health
- Arab News
Pakistan criminalizes child marriages in Islamabad despite opposition from Council of Islamic Ideology
ISLAMABAD: Pakistani President Asif Ali Zardari on Friday signed into law a bill criminalizing child marriages in the federal capital of Islamabad, despite opposition from a constitutional body that advises the Pakistani government on the compatibility of laws with Islam. The law criminalizes underage marriages and introduces strict penalties of up to seven years in prison for family members, clerics and marriage registrars who facilitate or coerce children into early marriages. Any sexual relations within a marriage involving a minor, regardless of consent, will be considered statutory rape, according to the law. An adult man who marries a girl under the legal age could face up to three years in prison. Pakistan's National Assembly had unanimously passed the Islamabad Capital Territory Child Marriage Restraint Bill tabled by Pakistan Peoples Party's (PPP) Sharmila Faruqui on May 16. Under the new law, the minimum legal age for marriage for both men and women in Islamabad is 18. Previously, it was 16 for girls and 18 for boys. However, the Council of Islamic Ideology this week declared the said bill 'un-Islamic,' saying that clauses of the bill, such as fixing the age limit for marriage and declaring marriage below the age of 18 as child abuse and punishable, did not conform with Islamic injunctions. 'The Islamabad Capital Territory Child Marriage Restraint Bill, 2025 is assented to, as passed by the Parliament,' President Zardari was quoted as saying in a notification issued from his office. In Pakistan, 29 percent of girls are married by the age of 18 and 4 percent marry before the age of 15, according to Girls Not Brides, a global coalition working to end child marriage. In comparison, five percent of boys marry before 18. PPP Senator Sherry Rehman thanked the president for signing the bill into law 'despite all pressure.' 'Proud moment for Pakistan,' she said on X. 'Thank you to all the women and men who made this possible after a long journey of twists and turns.' Thank you President @AAliZardari for signing into law the #ChildMarriageRestraint bill despite all pressure! Proud moment for #Pakistan Thank you to all the women and men who made this possible after a long journey of twists and turns. — SenatorSherryRehman (@sherryrehman) May 30, 2025 Pakistan ranks among the top 10 countries globally with the highest absolute number of women who were married or in a union before turning 18. Girls who marry young are less likely to complete their education and are more vulnerable to domestic violence, abuse and serious health complications. Pregnancy poses significantly higher risks for child brides, increasing the chances of obstetric fistulas, sexually transmitted infections and even maternal death. Teenagers are far more likely to die from childbirth-related complications than women in their twenties.
Business Recorder
3 days ago
- Business
- Business Recorder
SBP, Finance ministry inform NA body: ‘Cryptocurrency is not legal in Pakistan'
ISLAMABAD: The State Bank of Pakistan (SBP) and the Ministry of Finance on Thursday disclosed that the cryptocurrency is not legal in Pakistan and trading of cryptocurrencies is not permitted in the country. Both the SBP and the Finance Ministry stressed the need for a robust legal framework for trading of cryptocurrency in the country. 'Presently, cryptocurrency is banned in Pakistan,' they added. This was disclosed by officials of SBP and Finance Ministry during the meeting of National Assembly Standing Committee on Finance on Thursday. Pakistan establishes Digital Assets Authority to regulate crypto, blockchain According to the SBP officials, 'the SBP in 2018 issued instructions to the banks to prohibit trading of cryptocurrency in the country. Till now, it is not a legal tender. The SBP has given its recommendations to the Crypto Council.' The secretary Ministry of Finance informed the committee that 'very preliminary work has been done regarding cryptocurrency, but we need a proper legal framework in this regard.' MNA Mirza Ikhtiar Baig said there is a perception among the people that Pakistan has adopted the cryptocurrency and people have started making investment in the cryptocurrency. MNA Sharmila Faruqui questioned the recent policy shift prioritising digital currencies without addressing the associated regulatory deficiencies. The secretary Ministry of Finance informed the committee that Pakistan has not shifted its policy stance towards virtual assets. Rather, it is considering virtual assets with cautious and forward-looking approach for an informed decision on prospects of regulatory enablement. Towards this end, Pakistan Crypto Council (PCC) has been constituted with representation from the SBP, the Securities and Exchange Commission of Pakistan (SECP), and the Ministry of Finance (MoF). Under the umbrella of PCC, stakeholders' discussions on the feasibility of regulatory framework for crypto currencies and virtual assets are under way. The PCC is also exploring the beneficial use-cases to support responsible innovation in this area. This initiative aligns with FATF Recommendation 15, which mandates regulation and supervision of Virtual Asset Service Providers (VASPs). Given the growing interest in crypto-related activities, it is critical for Pakistan to build necessary legal and regulatory capacity to remain FATF-compliant before embarking on this journey. The SBP and SECP have advised their regulated entities to refrain from processing, using, trading, holding, transferring value, promoting and investing in virtual currencies/tokens. Further, the regulated entities were advised not to facilitate their customers/account holders to transact in virtual currencies/ICO tokens. Any transaction in this regard shall immediately be reported to Financial Monitoring Unit (FMU) as a suspicious transaction. These directives were issued due to the risks including high price volatility, closure of virtual currency exchanges and possibility of wallets hacking as well as risk of capital flight and financial instability. Under the direction of the General Committee, a National Working Group, led by the FIA was constituted and they are currently working in this regard. Both the Crypto Council and the Working Group are actively engaged in developing policy recommendations for legal and regulatory framework for Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs). This process includes a thorough evaluation of the associated money laundering, terrorist financing (MUTE), and broader systemic risks. Given that virtual assets remain a rapidly evolving and inherently volatile domain, any potential future policy shift will be approached with the utmost caution. A structured and risk-based approach aligned with the 'Pakistan First' principle will guide any decision-making, ensuring that national financial security and regulatory readiness remain a priority. A multi-stakeholder consultative approach is being employed to ensure comprehensive risk management and policy cohesion. Recently, the government has formed PCC with the objective to have stakeholders' consultation on the feasibility of promoting responsible Innovation In digital assets under an appropriate regulatory framework. GoP has also hired technical experts for the PCC. The objective is to initiate a stakeholders' dialogue with crypto industry leaders to enhance the mutual understanding about the nature of the crypto/virtual assets, their business models, underlying technologies, and associated risks. Presently, Pakistan's legal framework on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) conforms to the international standards, particularly the Financial Action Task Force (FATF) Recommendations. Furthermore, Pakistan continues to engage with international partners i.e. FATF, APG and IMF to further strengthen its AML/CFT regime and ensure compliance and sustainability with global AMUCFT standards. Copyright Business Recorder, 2025
Business Recorder
3 days ago
- Business
- Business Recorder
SBP, Ministry inform NA body: ‘Cryptocurrency is not legal in country'
ISLAMABAD: The State Bank of Pakistan (SBP) and the Ministry of Finance, Thursday, disclosed that the cryptocurrency is not legal in Pakistan and trading of cryptocurrencies is not permitted in the country. Both the SBP and the Finance Ministry stressed the need for a robust legal framework for trading of cryptocurrency in the country. 'Presently, cryptocurrency is banned in Pakistan,' they added. This was disclosed by officials of SBP and Finance Ministry during the meeting of National Assembly Standing Committee on Finance on Thursday. Pakistan establishes Digital Assets Authority to regulate crypto, blockchain According to the SBP officials, 'the SBP in 2018 issued instructions to the banks to prohibit trading of cryptocurrency in the country. Till now, it is not a legal tender. The SBP has given its recommendations to the Crypto Council.' The secretary Ministry of Finance informed the committee that 'very preliminary work has been done regarding cryptocurrency, but we need a proper legal framework in this regard.' MNA Mirza Ikhtiar Baig said there is a perception among the people that Pakistan has adopted the cryptocurrency and people have started making investment in the cryptocurrency. MNA Sharmila Faruqui questioned the recent policy shift prioritising digital currencies without addressing the associated regulatory deficiencies. The secretary Ministry of Finance informed the committee that Pakistan has not shifted its policy stance towards virtual assets. Rather, it is considering virtual assets with cautious and forward-looking approach for an informed decision on prospects of regulatory enablement. Towards this end, Pakistan Crypto Council (PCC) has been constituted with representation from the SBP, the Securities and Exchange Commission of Pakistan (SECP), and the Ministry of Finance (MoF). Under the umbrella of PCC, stakeholders' discussions on the feasibility of regulatory framework for crypto currencies and virtual assets are under way. The PCC is also exploring the beneficial use-cases to support responsible innovation in this area. This initiative aligns with FATF Recommendation 15, which mandates regulation and supervision of Virtual Asset Service Providers (VASPs). Given the growing interest in crypto-related activities, it is critical for Pakistan to build necessary legal and regulatory capacity to remain FATF-compliant before embarking on this journey. The SBP and SECP have advised their regulated entities to refrain from processing, using, trading, holding, transferring value, promoting and investing in virtual currencies/tokens. Further, the regulated entities were advised not to facilitate their customers/account holders to transact in virtual currencies/ICO tokens. Any transaction in this regard shall immediately be reported to Financial Monitoring Unit (FMU) as a suspicious transaction. These directives were issued due to the risks including high price volatility, closure of virtual currency exchanges and possibility of wallets hacking as well as risk of capital flight and financial instability. Under the direction of the General Committee, a National Working Group, led by the FIA was constituted and they are currently working in this regard. Both the Crypto Council and the Working Group are actively engaged in developing policy recommendations for legal and regulatory framework for Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs). This process includes a thorough evaluation of the associated money laundering, terrorist financing (MUTE), and broader systemic risks. Given that virtual assets remain a rapidly evolving and inherently volatile domain, any potential future policy shift will be approached with the utmost caution. A structured and risk-based approach aligned with the 'Pakistan First' principle will guide any decision-making, ensuring that national financial security and regulatory readiness remain a priority. A multi-stakeholder consultative approach is being employed to ensure comprehensive risk management and policy cohesion. Recently, the government has formed PCC with the objective to have stakeholders' consultation on the feasibility of promoting responsible Innovation In digital assets under an appropriate regulatory framework. GoP has also hired technical experts for the PCC. The objective is to initiate a stakeholders' dialogue with crypto industry leaders to enhance the mutual understanding about the nature of the crypto/virtual assets, their business models, underlying technologies, and associated risks. Presently, Pakistan's legal framework on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) conforms to the international standards, particularly the Financial Action Task Force (FATF) Recommendations. Furthermore, Pakistan continues to engage with international partners i.e. FATF, APG and IMF to further strengthen its AML/CFT regime and ensure compliance and sustainability with global AMUCFT standards. Copyright Business Recorder, 2025
Arab News
5 days ago
- General
- Arab News
Pakistan Council of Islamic Ideology declares bill to criminalize child marriages ‘un-Islamic'
ISLAMABAD: A constitutional council that advises the Pakistani government on the compatibility of laws with Islam has this week declared a landmark bill to criminalize child marriages in the federal capital of Islamabad as being 'un-Islamic.' The National Assembly on Friday unanimously passed the Islamabad Capital Territory Child Marriage Restraint Bill to curb child marriages and protect girls from becoming mothers in their teens. The bill, tabled by MNA Sharmila Faruqui, will be signed into law by the president in the coming days and replace legislation introduced during British colonial rule. Under the new law, the minimum age for marriage is 18 for both men and women in Islamabad where underage marriage will now be considered a criminal offense. Previously, the minimum age was 16 for girls and 18 for boys. Up to seven years in prison has been introduced among other punishments for people, including family members, clerics and registrars, who facilitate or coerce children into early marriage. Any sexual relations within a marriage involving a minor, with or without consent, will be deemed statutory rape, while an adult man found to have married a girl could face up to three years in prison. 'The bill introduced by Madam Sharmila Faruqi … has been declared un-Islamic,' the Council of Islamic Ideology (CII) said in a statement issued by its media wing after the body held its 243rd session on May 27–28 at its headquarters in Islamabad. Clauses of the bill, such as fixing the age limit for marriage and declaring marriage below the age of 18 as child abuse and punishable, do not conform with Islamic injunctions, the CII said. In Pakistan, 29 percent of girls are married by 18 , according to a 2018 demographic survey, and 4 percent marry before the age of 15 compared with 5 percent for boys, according to Girls Not Brides, a global coalition aiming to end child marriage. The country is among the top 10 worldwide with the highest absolute number of women who were married or in a union before the age of 18. Girls who marry are less likely to finish school and are more likely to face domestic violence, abuse and health problems. Pregnancies become higher risk for child brides, with a greater chance of fistulas, sexually transmitted infections or even death. Teenagers are more likely to die from complications during childbirth than women in their 20s.
