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, 10,000 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 measures […]
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 […]
The Ummah did not imagine that the regime in Jordan will fall short of passing the amended bill on income tax through its tools and lackeys of the government, parliament and those praising its bestowals. So for the sake of passing the law, there is no harm in overthrowing the government and bringing a new one. […]
Question: Assalam Alaikum Wa Rahmatullah Wa Barakatuh We are aware that America has a budget deficit of nearly $20 trillion; my question is of two parts: 1- Is it a debt? And to whom? 2- If so, what prevents it from issuing its own currency, the dollar, which it imposes on the world, though it […]
The new rulers of Pakistan have announced a return to negotiations with the International Monetary Fund, the IMF, in November 2018. They seek aid, with interest and conditions. On 13 October 2018, the Finance Minister, Asad Umar, said, “We are going [to the IMF] for the 19th time and we wish that it is the […]
The sale of gold investment instruments (Breeq) for individuals and companies was launched on Monday 15/10/2018 by the Sudanese Financial Services Company (SICO). The Director of the company said at the opening ceremony on Monday 08/10/2018, in the presence of the Prime Minister: “The objective of the Fund is to invest its funds in purchase […]
Question: On the 2nd of October, 2018, during the mid-term election rally in the constituency of Mississippi, Trump has threatened Saudi Arabia and showed his supporters that he was dealing with high oil prices: “…And how about our military deals where we protect rich nations and we don’t get reimbursed, how about that stuff “meaning oil”? […]
The only Solution is the implementation of the Islamic System by the Khilafah State (Caliphate) On Thursday, 04/10/2018, the Bank of Sudan issued publication No. 9/2018 entitled “The Exchange Rate Mechanism”, which was later renamed “The Market Makers’ Mechanism”, which canceled 10 previous publications of the Bank and three supplements. The recent publication stipulated establishing […]
The Governor of the Central Media Bank of Sudan, Mohamad Kheir Az-Zabeir, announced after his meeting with the Sudanese Council of Ministers on Thursday 04/102018 that there will be a bundle of economic policies in order to deal with the economic downfall in Sudan. He further announced,“The government will eliminate all kinds of government control […]
Whilst blaming the previous rulers for the mess the economy is in now, the PTI government is marching on exactly the same path that the previous rulers took. On 8 October 2018, the Finance Minister, Asad Umar, confirmed that Pakistan’s new rulers will also go to the IMF. Then on 9 October 2018, fulfilling a […]
Lately, media reports are rife with the news that oil prices will soon reach $100 a barrel and may even go higher [oilprice.com]. Trump has wade into the debate and has demanded Saudi Arabia to increase production to offset the high price of crude.
Question: Our Esteemed Amir, Assalamu Alaikoum wa Rahmatu Allah wa Barakatuh, May Allah honor your efforts with goodness and bring victory and strength through you. It was mentioned in the book “Finance in the Khilafah State”, (Arabic edition page 153) in the chapter “Zakat on Livestock: Cattle” as follows: “Zakat obligated on cattle livestock which […]
“Heroin is to drug addicts what foreign exchange (read dollars) is to Pakistan’s economy right now. When a drug addict enters a rehabilitation clinic, he often perceives the doctor as the enemy, stripping away the addict’s ability to experience joy in life. Asad Umar is in a similar position with the Pakistani people, as he […]
But Rather by the Restoring the Authority of Islam to the Ummah and its Complete Implementation in All its Affairs After al-Razzaz’s government conclusion of its ministerial teams rounds in the provinces, where it faced a strong resistance and rejection in most of its events and meetings with the public; not only for the new […]
The mini-budget released on 18 September 2018 revealed huge increases in taxation through the widespread withdrawal of tax and duty exemptions, before the scheduled visit of the International Monetary Fund (IMF) team, which is to demand even more privatization. As such Pakistan’s new rulers have confirmed that there is no change and it is more […]
More doom and gloom for the UK with this story on the 14th of September from the Guardian: “No-deal Brexit could be as bad as 2008 financial crash, Carney says.” Carney is the governor of the Bank of England and he predicted for the Cabinet that should the UK ‘crash out of the EU’ in […]
The US Federal Reserve Bank of San Francisco reported on the 13th of August, that 10 years after the 2008 financial crisis: “the U.S. economy remains significantly smaller than it should be”, which “represents a lifetime present-value income loss of about $70,000 for every American”, and “the United States is not alone.”
Merchants of the shops in the city of Qadarif organized a strike on Thursday, 6th of September 2018 where they shut their businesses as a protest against the increase on taxes which reached triple the amount originally taken from them in the past. The question is: Is it Islamically legal to take taxes from merchants […]
Bajwa-Imran Regime has Started Implementing IMF Conditions Even Before Securing IMF Debt Hizb ut Tahrir / Wilayah Pakistan rejects the increase in gas prices by 46 percent on average, as well as the two Rupees per unit increase in electricity prices. Has the Bajwa-Imran regime lost all its senses? Why is it increasing the prices […]
Those observing Istanbul’s construction boom will not have been surprised by last week’s currency collapse – it’s all based on debt. Much of that borrowing was done on the basis of profit margins that never materialised. (Source: The Guardian)
Question: The Turkish lira fell in one day on 10/8/2018 by 14%, after falling by more than 21% on a continuous basis since the beginning of this year. The drop has increased after America’s imposition of tariffs on steel and aluminum imported from Turkey, in addition to the issue of the detention of the American […]
According to Bloomberg, 13th of August, 2018, “America never made up the growth it lost in the 2008 global financial crisis and the recession it triggered. A decade later, U.S. households are still counting the cost.
After weeks of turmoil, Qatar has come to Turkey rescue as its currency plunged causing a severe economic crisis. Qatar offered Turkey $15 billion of investment according to Turkish officials, following a meeting between Qatari Emir Sheikh Tamim bin Hamad Al-Thani and President Recep Tayyip Erdoğan in Ankara on Wednesday August 15th. This is a […]
The tax proposals submitted through the 2018 Finance Bill are designed to generate an additional Ksh 27.5 billion in tax revenue for the FY 2018/19. The 2018/2019 budget deficit of Ksh 558.9 billion (equivalent to 5.7 percent of GDP) will be financed by net external financing amounting to Ksh 287.0 billion (equivalent to 3.0 percent […]
A Mandate with a New Look The International Monetary Fund (IMF) is currently holding its second review session with the Jordanian government and unofficial figures, to market its corrective program for the Jordanian economy. From our review of what the IMF has published in its website under the title: “Jordan and the IMF Frequently Asked […]
