Question: Assalamu Alaikum Wa Ramatullah Wa Barakaatuhu, Pardon me, in the book of the Economic System in Islam by the honorable scholar Taqiuddin an-Nabhani, may Allah have mercy on him, he talked about the Kharaji land and the ‘Ushri land. My question: What is the difference between the land title (raqabah) and its benefit when […]
On Saturday, 09/02/2019, the Financial Minister of State, Mustafa Hawalli, spoke at the meeting organized by the Independent Newspaper, in which he said: “The economy applied in Sudan is Islamic.”
Imran Khan’s meeting on 10 February 2019 with the IMF chief in Dubai heralds grave new dangers to Pakistan at the hands of the colonialists. The IMF is such a great source of harm that in the US Army’s “Field Manual (FM) 3-05.130, Army Special Operations Forces Unconventional Warfare,” written in September 2008, the US […]
Water, Land and Natural Resources Minister Dr A Xavier Jayakumar has confirmed that water tariffs will gradually be increased this year in line with the government’s efforts to restructure the water supply services industry in the country. The justification given is to take care of consumers’ interests in getting quality water and to ensure the […]
Question of Attia Al-Jabarin: Assalamu Alaikum our Brother Abu Yaseen, may Allah protect you and give you long life, As for the answer to question about the Zakat of livestock… We know that Zakat is obliged on pasturing sheep and goats, and no Zakat is on non-pasturing sheep and goats (al-ghanam). When the owner of […]
There is a wide outcry over overgrowing gambling activities in Tanzania that have become widespread and lured many youths in its indulgence. Dealers of gambling activities operating legally, registered by the government as well as paying all required taxes and other state charges which are part of governments’ revenue.
Last week, the State Bank of Pakistan (SBP) suddenly raised interest rates by 25 basis points to 10.25%. This was the fifth consecutive rate rise and coincides with Khan’s term in office, fueling rumors that IMF is dictating the country’s monetary policy.
There has been much speculation recently about when another crisis will hit the world’s major economies. This is natural. The recovery from the last crisis, if it can be called recovery was poor, with economies barely growing at 2% if at all, and what growth was achieved happened largely by money printing (QE). Furthermore, budget […]
The second mini-budget presented on 23 January 2019 is certainly not a cause for rejoicing and praise. The second mini-budget became a practical necessity because the regime strangled the economy so hard with taxation, in its first mini-budget, that the economy choked to the point that its ability to cough up tax revenues was itself […]
Whilst lamenting over three decades of economic failure, on 24 January 2019, the Finance Minister, Asad Umar, revealed the government’s economic focus on addressing, “budget deficit due to an imbalance between government expenditures and revenues, increasing trajectory of imports vis-a-vis exports, and an increase in investments.” Asad Umar further acknowledged on-going negotiations with the IMF […]
According to charity foundation Oxfam, the 26 richest billionaires own as many assets as the 3.8 billion people who make up the poorest half of the planet’s population. The wealth of the world’s richest 1% is equaled to the total wealth of the remaining 99%. In the 10 years since the financial crisis, the number […]
Question: Assalaam u alaykum Dear Sheikh, May Allah swt protect you and honour you. Can you elaborate the definition of Hoarding? Living in this time of uncertainty with a capitalist system over us, it is easy to think we should have money aside as it is not known when an emergency will arise and the […]
As the Muslims of Pakistan brace themselves for the next mini-budget on 23 January 2019, it is clear that the current economic system is the cause of ever worsening economic hardship faced by the masses. Under the current system, Pakistan’s currency is crippled by the dollar peg, which has been imposed by Western colonialists as […]
Introduction: Origin of the term, Food Security Food is considered as one of the basic needs of human beings that ensures energy to undertake the burdens of life and sustain life. Food is one of the causes of the conflicts between states, with many wars and conflicts arising due to it. Every human needs a […]
At the beginning of every year, the government comes out with the so-called the budget of the new year, promising us with rosy hopes and aspirations to reform the situation and change the deteriorating conditions. But after a few days the situation worsens, the hardship worsens, and the people suffer. This scenario has been repeated […]
The world’s richest 1% are on course to control as much as two-thirds of the world’s wealth by 2030 [1]. World leaders are being warned by the UK’s House of Commons library that the continued accumulation of wealth at the top will fuel growing distrust and anger over the coming decade unless action is taken […]
and its a Political Crime that Confirms the Regime’s Treachery and its Subordination to the Colonial Powers The Jordanian government presented the draft state budget law for the year 2019 to the House of Representatives. In their preliminary discussions, the MPs criticized the draft budget law for not touching the reality and its estrangement with […]
The State Leads the People to Destruction through the Riba-based Financing System and Cheats them for the Benefit of Banks by Scheduling and Prolonging Individuals’ Debts Al-Araby Al-Jadid (The New Arab) website reported, on Sunday 30/12/2018, under the title “Jordan … Warnings of new protests against high prices and fines” that according to recent data […]
This article is an extract from the forthcoming, annual Khilafah.com report, Strategic Estimate 2019. The report assesses the state of the global balance of power and the key issues that will affect it and the emerging trends. The full report will be published around 1 January 2019 The global economy is changing as the economic […]
The budget law of 2019 is enacted in the Turkish Grand National Assembly (TBMM) on 22 November 2018. With the budget proposal submitted by the Presidency, it is stated that 949 billion 25 million 615 thousand TL was allocated to public administrations within the scope of the general budget, 73 billion 771 million 848 thousand […]
The Dawn published a story on 16th September 2018 which claimed that according to a source with direct and detailed knowledge of the matter, the International Monetary Fund (IMF) has asked for Rs160 billion worth of new tax measures in the current fiscal year, which ends in June 2019, in order to stabilise the fiscal […]
Tanzania’s government has signed into law the Public Service Social Security Act 2018, which has resulted into chaos, frustrations, and more outcry among workers. The new Act joins all pension funds into two major entities; the Public Service Social Security Fund (PSSSF) and National Social Security Fund (NSSF), and introduced two new tricky benefits, the […]
Question: Assalamu Alaikium Sheikh، may Allah (swt) protect you and grant the victory through your hands… Ameen. In many Western countries we have a scheme called the Pension scheme. This is when the employee contributes a certain amount of his wage and gives it to the company he works for. The company also put in […]
The problem of the balance of trade and the lack of dollars for the payment of imports is a consequence of the Capitalist economic system being implemented upon us. The balance of trade, that is the balance of exports versus imports, is the difference in what we export and import in a monetary sense. So, […]
Question: Assalamu Alaykum Wa Rahmatullah, A Question about transactions: We want to rent a land in order to extract stone from it for a sum of money and in case of non-validity of the stone, we will turn the sale to a proportion. Is this transaction valid or not valid being two contracts in one […]
IMF representative to Pakistan Teresa Sanchez said, “The government of Pakistan has approached the International Monetary Fund with a request for not only financial assistance but also for policy advice, which are part of the usual services that the IMF provides to its member countries. Remember that the IMF provides countries with financial assistance to […]
7000 shops, 10000 sun shades and 2000 platforms were ruthlessly demolished in Karachi after a Supreme Court order of 27 October 2018 to end encroachment of public streets and lands, sparking great anger and protest. Only after thousands lost their long standing businesses, without compensation, did the Sindh Local Government Minister, Saeed Ghani, announce relocation […]
The Turkish Statistical Office announced on 15/11/2018, “The unemployment rate rose to 13.2% between July and September this year,” while unofficial records say it exceeds 18%. The unemployment rate in agriculture has increased to 20%. The percentage of unemployed among university graduates is 12.2%.
Question: Attempts have emerged by some countries, especially Russia, China and the European Union, to replace the dollar with another currency in international transactions. Agreements have even been made to deal with the local currency of some countries, such as Russia’s agreement with India on 31/10/2018, for the sale of S-400 missiles in the Russian […]
In the past few days, as Bitcoin has been diving to new lows, the Financial Times newspaper has been reporting on the past and future of this wrongly named “cryptocurrency.” “Last December, bitcoin looked set to break $20,000 in a frantic bull run that saw it double in value in three weeks as supporters hailed […]
