All posts filed under: Economy

High as Well as Low Interest are Both Haram!

President Recep Tayyip Erdogan spoke at the admission of the DEIK Executive Board. While criticizing the high interest, Erdogan emphasized financial discipline. Erdogan stated that he knows how the banks exploit the business world and said “We almost pride ourselves on sinking many of our companies. Whether they listen to me or not, I’m against […]

Democratic Politician’s Objectives is to Enrich Himself / Herself Not Serving People

There is an ongoing discussion across the country concerning a big difference between politicians and other public servant’s salary scales. While politicians get paid high salaries and other lucrative benefits, workers are sacrificed by taking home a hand to mouth salaries with maximum tax deductions. (BBC Swahili 17/07/2020). Comment: This scenario cements the truth that […]

Yemeni Scholars Embrace the Capitalist Economy and are Interested in Islamic Banking

Member of the Supreme Political Council Sultan Al-Sami’i and Prime Minister Dr. Abdulaziz Saleh bin Habtoor participated in the economic symposium on “Islamic Banking during crises” organized yesterday in Sana’a by the Association of Yemeni Scholars and the Economic Observatory for Studies and Consultations in cooperation with the Yemeni Academy for Higher Studies (Al-Thawra Newspaper, […]

Islam Mandates Energy Resources are Public Property

Transferring Them to the Private Sector for Profits, Both Endangers Public Interests and Compromises Public Rights The Bajwa-Imran regime of “change” has increased the prices of petroleum products by ten rupees within the last month, in three increments. Since September 2020, twice a month, people face a “petrol bomb” which raises the prices of food […]

Predatory Capitalism

The government’s ‘lopsided’ surveillance mechanism, the alleged sugar cartel and above all hoarding have caused around Rs20 per kilo increase in the price of the sweetener in the last 15 days alone, leaving the inflation-stricken people with no option but to buy the commodity at higher rates. (Dawn News)

Only the Islamic Economic System under the Khilafah will Rescue Kenya

 and the World at large from the Interest-based Debt Trap Kenya’s public debt has touched a high of Sh8.4 trillion and is quickly racing towards the Sh9 trillion ceiling as the government chalks up more borrowing in its fight against Covid-19. This is slightly over three-quarters of the country’s total economic output, technically known as […]

Islamic Banking in the View of Islam

بسم الله الرحمن الرحيم In the modern era, some Western terminologies and labels have appeared in the life of Muslims. These terms are dressed up with Islamic garb, so as to make them acceptable to the Muslims masses until they receive welcome in their life, transactions, public and private relations. The Islamic garb is adorned […]

Why do you implement economic measures based on non-Islam?

President Recep Tayyip Erdogan issued statements following the Presidential Cabinet Meeting at the Presidential Complex. Erdogan said, “We are struggling hard to overcome the pressures and costs of interest, inflation and exchange trivets on the Turkish economy. With our production diversity, logistical capabilities, strong supply chain, incentives and dynamic workforce, we are at a level […]

Capitalism Offers No Consistent Morals and Benefit is the Only Value Driving Decisions

On the 2nd of November 2020, the BBC reported that the Indian government has initiated a campaign to promote the consumption of sugar in response to the excess sugar not sold by companies. The new pubic adverts and campaigns are employing scientists and dietitians to reverse the public’s current understanding that it is healthy to […]

Female Workers in Southeast Asia Oil Palm Fields Continue to be Victims of Abuse Driven by Capitalism

The Associated Press (AP) reported on 19th November about the abuse and exploitation of women in the production of palm oil in Indonesia and Malaysia, such as receiving low wages, lack of health protection, and being subjected to inhuman workload and sexual abuse, including threats of rape. AP interviewed more than three dozen women and […]

The Gas Crisis in Tunisia is a Creation of the Existing System

So how can we expect the solution to come from it?! Many regions in all of the southeastern and southwestern states of Tunisia, up to the Governorate of Sfax, are witnessing a shortage of domestic gas cylinders, which is causing great harm to people, especially in these cold climates, to the extent that in 2020 […]

The Transitional Government Continues to Humiliate and Impoverish the People of Sudan

 through Raising Fuel Prices by more than 400% in response to IMF Dictates! The Minister of Energy and Mining-Designate Khairy Abdel Rahman Khairy announced in a press conference the start of the liberalization of fuel prices, “oil and gasoline”, from Tuesday evening. And he said that the price of a liter of imported oil is […]

“The wrongful tax collector will not enter paradise.”

«لَا يَدْخُلُ الْجَنَّةَ صَاحِبُ مَكْسٍ» “The wrongful tax collector will not enter paradise.” (Abu Dawood) Abu Dawud reported in his Sunan, Abdullah bin Muhammed bin Nufaiyli narrated, on the authority of Muhammed bin Salama, on the authority of Muhammed bin Ishaq, on the authority of Yazid bin Abi Habib on the authority of Abdur Rahman […]

Al-Mechichi Government Follows a Policy of collection and Handing over the Country to the Foreigner

In his first television interview on Sunday, October 18, 2020, Prime Minister Hisham Al-Mechichi said that the deficit in the fiscal budget for the year 2020 has reached 14 percent, and that the mobilization of financial resources for the 2021 budget will be done through the continuation of fiscal reform and borrowing from donors, On […]

The Inflation Storm is a Gift of the Capitalist System, Implemented by both Democracy and Dictatorship

Severe inflation has struck Pakistan for the last two years, intensifying in recent days. Flour, lentils, fruit, vegetables, eggs, meat, milk, electricity and gas bills and school fees are almost out of reach for much of the population. The Bajwa-Imran regime as usual is undertaking optics without any change on the ground, such as grand […]

Q&A: Gold and Silver are the only Two Currencies the Islamic State Should Adopt

Question: Assalamu alaykom wa rahmatullah wa barakatuhu, May Allah (swt) bless and protect you our Shaykh… Question: Some thinkers in our country, Indonesia, refuse to return to the use of gold and silver currencies, and say that Shari’ah does not dictate that specific money be used, using the evidence that Umar ibn al-Khattab intended to […]

Capitalism has not Delivered a Solution to Long-Term Spiraling Inequality in the US

Politico published an article on the 7th of September demonstrating the growing gap between rich and poor in the US: “‘A tale of 2 recessions’: As rich Americans get richer, the bottom half struggles.” Following the recession catalyzed by the Covid-19 pandemic, “the path toward economic recovery in the U.S. has become sharply divided, with […]