All posts filed under: Economy

Capitalist Economics is to Blame for the UK’s Shocking Levels of Poverty

On the 4th of December, the Joseph Rowntree Foundation, a British social policy research and development charity, published a report that revealed the shocking levels of poverty affecting the UK. It stated that more than 1 in 5 people (14 million) are now in poverty amid the worst decline for children and pensioners in decades. […]

Addressing Economic Problems Requires Thinking Outside the Box of Capitalism and Turning to the Great Ideology of Islam

In his speech to the Parliament on Wednesday, 25/10/2017, the First Vice President of the Republic, Prime Minister Bakri Hassan Saleh, acknowledged the government’s failure to address the economic crisis and called for a new school. He said: ” Despite the jurisprudence of the former schools of economy management,  is still economic depression, so the […]

Who owns oil?

Through the controlled flotation mechanism launched by Malaysian Ministry of Domestic Trade, Co-operatives and Consumerism, the prices of petrol and diesel have been raised at a fairly high rate within these couple of weeks. Expectedly, every time there is increase in oil prices there will be much reaction from the public. Despite these reactions, Malaysian […]

The Transition

Download the book The Transition Introductory Remarks In his tract on monetary reform, John Maynard Keynes referred to gold as a barbarous relic, whose rigidity had fettered the world from economic freedom and prosperity. He spoke at a time when the Occident were suffering from macroeconomic anaemia and were yearning for a solution. In sheer […]

The State of Taxation in Sudan will not Solve the Problem of Unemployment, Rather, it is the Cause of the Problem

The Secretary General of the Secretariat of Sudanese Working Abroad, Ambassador Karar al-Tuhami, said: “Not necessarily that the state is responsible for the employment of graduates”, he added: “The state is not a charitable organization, and the indicators of unemployment are not critical.” (Al-Jareeda Newspaper, Issue 2178, 23/07/2017).

Q&A: Disposal of Haram Funds & Deceit in Trade

Questions:                                                              Assalamu Alaikum Wa Rahmatullah Wa Barakatuhu our Ameer, may Allah elevate you and bring victory to this Ummah by your hands. If I may, I have two questions: The first: In your Answer to the Question to a brother regarding stocks, you said in the Answer: If you give authority to your mother who […]

Q&A: Who is Zakat paid to in the Absence of the Islamic State?

Question:                                                                Assalamu Alaikum wa Rahmatullahi wa Barakatuh, O our Sheikh, there is a disagreement; to whom the Zakat should be paid? Is it to the government while it is known that it does not spend it in its allocated expenditures, or is it distributed to the poor (Al-Fuqaraa) and the paupers (Al-Masakeen)? Please clarify with […]

Budget 2017-18: Poor People Pay Heavy Price for Awami League’s Election Budget

On 01 June, 2017, Bangladesh’s Finance Minister AMA Muhith has placed a Taka 4 trillion budget for the fiscal year 2017-18 in the parliament, relying mostly on VAT collections to cover a 35% growth in revenue earnings. The fact of the matter is that in the name of this so-called ‘development-heavy’ budget, money will be […]

Pakistan’s Agriculture and Industry Neglected

Capitalist Democratic System Discourages Local Production and Manufacturing in Pakistan Before the announcement of the Budget 2017-18, the Finance Minister of the Bajwa-Nawaz regime informed the nation of a 2% growth in the services sector, at the cost of industrial and agriculture sectors, within the Gross Domestic Product (GDP). Thus, the share of the services’ […]

Only Khilafah Rashida can solve the Problems of Water Resources on a Regional and International Level

During the Fourth Water Conference in Kabul on 6 March 2017, the President of Afghanistan asked countries in the region to support construction of Water Dams and Supply Network in Afghanistan. He said, “Water is a key element of regional cooperation. By establishing legal frameworks and bilateral and multilateral agreements, we can create better grounds […]

Q&A: Joining a Trade Union in order to Practice a Profession

Question:                                          Assalamu Alaikum wa Rahmatullahi wa Barakatuh, Assalamu Alaikum wa Rahmatullahi wa Barakatuh our brothers, Assalamu Alaikum our Ameer, may Allah grant you and those with you, blessings and success …. After greetings I have a question if you could please reply to it quickly for necessity. I specialize in medical testing, and to be […]

Hanafi Fuqaha on Public Property

The concept of public property, and its opposing category of private property, is well known today, due primarily to the centrality of the latter to liberal and capitalist thought and the former to socialist thought. However, the notion that certain things are owned by individuals, giving them exclusive disposal rights thereof, whilst others are for […]

Passing the General Budget Law in Jordan for 2017 is a Great Crime and a Violation of the Poor’s Livelihoods

Passing the general budget law by the Jordanian House of Representatives for the year 2017 after a farce of a discussion was not a surprise. People only expect from parliaments – throughout its history – to give confidence to the successive governments, and to exercise legislation and pass oppressive laws, including the budget law, which […]

Developing Economy Without Foreign Direct Investment (FDI)

Najib’s six day visit to China recently resulted in the signing of 14 economic cooperation MOUs worth RM143.64 billion. Several parties were grateful for the news thinking that this foreign direct investment (FDI) from China will provide various economic benefits for Malaysians. But there are also those who are not happy with this news and claimed […]