The rope of lying, which is short, has reached its end, revealing what is hidden, and the reality of the fuel crisis is exposed, when the Minister of State of the Ministry of Oil addressed the Parliament on Wednesday 02/05/2018 and said:

On 27th April 2017 the PML-N government presented its last budget, for the fiscal year 2018-19. The ideological bankruptcy of Pakistan’s ruling elite was clear in both in the content of the budget, as well as in the politics surrounding it. On the one hand, the government made a great show of some tax cuts […]

In a dangerous precedent, drinking water has been cut off from large parts of Tunis. This has disrupted family life, disrupted the interests and work of hundreds of thousands of people and has made life more difficult.

On 17th April 2018, Tuesday, The Nati­onal Electric Power Regula­tory Authority (Nepra) found K-Electric at fault for the ongoing power crisis in Karachi and asked the government to increase gas quota for the power utility to ease public sufferings. The regulator reviewed the investigation report and decided to initiate legal proceedings against the power utility […]

Questions from: Hisham Jaawan: If I have an amount of money, do I have to compare it to the Nisab of gold or Nisab of silver … i.e., what is the Nisab of the local currency??? Mohammad Alissa: Is there Zakat on the real estate business? Said Ghorzi: There is another problem; is it permissible […]

Recently Donald Trump announced via his Twitter feed that the US would be implementing new punitive tariffs on steel imports (at 25%) and aluminum imports (10%) to the US. Although highly unusual for a President to announce such policies via social media, Trump likes to see himself as different, and a master negotiator. The move […]

Assalamu Alaykum wa Rahmatullah wa Barakaatahu We address you as participants of the World Islamic Finance Forum (WIFF) of 19 March and 20 March 2018, organized by Karachi’s Centre for Excellence in Islamic Finance at the Institute of Business Administration (CEIF-IBA), in collaboration with LUMS and INCEIF. Indeed, this forum of yours itself is an […]

For several centuries, the Muslim world remained as the global economic super power and the Islamic state stood as a beacon of progression and the peak of civilisation in a world steeped in chaos and turmoil. The city of Yathrib came to be known as the illuminated city – Madina, upon the arrival of the […]

The total defaulted loan in the Bangladeshi banking sector stands over BDT 80,000 crore (BDT 800 billion). Up to June 2017, an amount of over BDT 18,000 crore was written off by state-owned banks. Government has also supplied capital over BDT 10,000 core (BDT 100 billion) during the last 10 years. Despite injection of additional […]

Kenya is paying Sh658.2 billion against Sh1.4 trillion in expected tax revenues meaning half of all the money collected by Kenya Revenue Authority (KRA) goes to pay debt. If one adds non-discretionary spending such as salaries and pensions which are deducted even before they hit our spending accounts, Kenyans will pay Sh735.6 billion this year, […]

Public Property: Public Property is the permission of the Shar’ for the community to participate in the use of materials which have been stipulated by the Shar’ that they (community) are partners over, whilst individuals and the State are prohibited from possessing them individually. It is the property of the public altogether and it is […]

On 26 January 2018, The Guardian Newspaper reported that “Rough sleeping in England has increased for the seventh consecutive year, official figures show, and charities say even this steep rise fails to capture the true level of street homelessness… The separate Chain database, which records rough sleepers in London seen by outreach workers, last June […]

In a statement that resembles him and his regime, the Assistant to the President Ibrahim Mahmoud Hamed, stated that the adherence to the banner of La Illaha Illa Allah was the reason for the economic insolvency, which the country is experiencing these days!!

On Dec 19, 2017, Minister for Planning and Development Ahsan Iqbal said that the government was considering a Chinese proposal to use renminbi (RMB or yuan) instead of the US dollar for payments in all bilateral trade between China and Pakistan. And so the State Bank of Pakistan (SBP) on Monday, 1st January 2018, made […]

Bloomberg reported a remarkably conservative headline today, 13th December, 2017: “Bitcoin’s 8.7% Decline Pales in Comparison to Record Run” and noted that now bitcoin was moving “closer to the mainstream through the introduction of futures.” From the same day, other headlines focused on either the risks of bitcoin: “Bitcoin Is History’s Biggest Bubble, Turkey’s Simsek […]

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. […]

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 […]

One in ten London families are relying on charity handouts to eat and food banks are facing unprecedented strain in the run-up to Christmas, new figures reveal. One in four London parents worry about being able to afford to feed their children, the research found, while almost one in five have to choose between heating their […]