All posts filed under: Economy

Q&A: The Ahadeeth of the Messenger ﷺ that forbids two sales in a single sale and two agreements in a single agreement

‎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 […]

Khan’s Naya Pakistan is Increasingly Looking to Become Hostage to IMF

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 […]

The Ruthless Anti-Encroachment Drive Confirms that the Regime only Cares for the Affairs of the Powerful Ruling Elite

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 […]

Q&A: Has the “Countdown” Begun to End the Dollar’s Dominance Over the Global Economy?

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 […]

The Regime Stabs the Ummah Once Again and Endorses the “Income Tax” In Compliance to the IMF and in Submission to its Colonial Policies

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. […]

Reject the IMF, the Colonialist Tool that Orchestrates Pakistan’s Economic Destruction

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 Gold Investment Fund is a Void Capitalistic Company. It is Haraam to Buy its Instruments and to Own its Proceeds

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 […]

Q&A: Trump’s Insistence on OPEC, Especially on Saudi Arabia, to Increase Production and Reduce Oil Prices

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 Market Makers’ Mechanism is an Episode of Dependence on the IMF

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 […]

According to the General Economic Procedure of the International Monetary Fund (IMF) to Allow the Sudanese Pound to Inflate, the Government is Actually Euthanizing the Sudanese Pound!

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 […]

To Please the IMF, Pakistan’s Rulers Weaken the Rupee resulting in Increase in Prices and Burden on Muslims

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 […]

The Disease of Capitalism

“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 […]

The Horrible Economic Situation is not cured by the Corrupt Economic Reality that created it

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 […]

Mini-Budget Ties Pakistan’s Economy Down, Before More Slaughter with the Knives of the IMF

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 […]

The World is Still Paying a Heavy Price Ten years after the Crisis Caused by the Capitalist Financial System

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.”

The Government Instigated the Closure of Several Businesses in the City of Qadarif Due Increasing the Forbidden Taxes

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 […]

Increase in the Prices of Gas and Electricity is Poison for Pakistan’s Economy

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 […]

Q&A: The Fall of the Turkish Lira

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 […]

Erdogan’s Economic Fortunes Crumble

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 […]

Kenya’s 2018/2019 Budget is Tightened Nooses on the Necks of Despaired Citizens!

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 […]