All posts filed under: Economy

Q&A: Who is Zakat paid to in the Absence of the Islamic State?

Question:                                                                Assalamu Alaikum wa Rahmatullahi wa Barakatuh, O our Sheikh, there is a disagreement; to whom the Zakat should be paid? Is it to the government while it is known that it does not spend it in its allocated expenditures, or is it distributed to the poor (Al-Fuqaraa) and the paupers (Al-Masakeen)? Please clarify with […]

Budget 2017-18: Poor People Pay Heavy Price for Awami League’s Election Budget

On 01 June, 2017, Bangladesh’s Finance Minister AMA Muhith has placed a Taka 4 trillion budget for the fiscal year 2017-18 in the parliament, relying mostly on VAT collections to cover a 35% growth in revenue earnings. The fact of the matter is that in the name of this so-called ‘development-heavy’ budget, money will be […]

Pakistan’s Agriculture and Industry Neglected

Capitalist Democratic System Discourages Local Production and Manufacturing in Pakistan Before the announcement of the Budget 2017-18, the Finance Minister of the Bajwa-Nawaz regime informed the nation of a 2% growth in the services sector, at the cost of industrial and agriculture sectors, within the Gross Domestic Product (GDP). Thus, the share of the services’ […]

Only Khilafah Rashida can solve the Problems of Water Resources on a Regional and International Level

During the Fourth Water Conference in Kabul on 6 March 2017, the President of Afghanistan asked countries in the region to support construction of Water Dams and Supply Network in Afghanistan. He said, “Water is a key element of regional cooperation. By establishing legal frameworks and bilateral and multilateral agreements, we can create better grounds […]

Q&A: Joining a Trade Union in order to Practice a Profession

Question:                                          Assalamu Alaikum wa Rahmatullahi wa Barakatuh, Assalamu Alaikum wa Rahmatullahi wa Barakatuh our brothers, Assalamu Alaikum our Ameer, may Allah grant you and those with you, blessings and success …. After greetings I have a question if you could please reply to it quickly for necessity. I specialize in medical testing, and to be […]

Hanafi Fuqaha on Public Property

The concept of public property, and its opposing category of private property, is well known today, due primarily to the centrality of the latter to liberal and capitalist thought and the former to socialist thought. However, the notion that certain things are owned by individuals, giving them exclusive disposal rights thereof, whilst others are for […]

Passing the General Budget Law in Jordan for 2017 is a Great Crime and a Violation of the Poor’s Livelihoods

Passing the general budget law by the Jordanian House of Representatives for the year 2017 after a farce of a discussion was not a surprise. People only expect from parliaments – throughout its history – to give confidence to the successive governments, and to exercise legislation and pass oppressive laws, including the budget law, which […]

Developing Economy Without Foreign Direct Investment (FDI)

Najib’s six day visit to China recently resulted in the signing of 14 economic cooperation MOUs worth RM143.64 billion. Several parties were grateful for the news thinking that this foreign direct investment (FDI) from China will provide various economic benefits for Malaysians. But there are also those who are not happy with this news and claimed […]

Q&A: Benefiting from Financial Transactions of Non-Muslims before Converting to Islam

Question: Barakallahu feek, my question is related to Economics, I seek clarification about dealing with stocks: Since I was young (under 10 years of age – almost 20 years ago) my mother deposited some stocks in a bank under my name. These stocks increased in value, and in 2015 my mother sold the stocks on […]

Q&A: Whoever revives a barren land in respect to the Kharaaji land

Question: Assalaamu Alaikum Wa Rahmatullahi Wa Barakaatuhu, This is a question related to the lands and it is as follows: After reading the book, “Economic System in Islam” and the subject of the lands it became apparent to me that the description of the land is either ‘Ushriyah or Kharajiyah with the evidences that came […]

Q&A: Is it permissible for the State to impose taxes on Muslims?

Question: As-Salaamu Alaikum Wa Rahmatullah Wa Barakaatuhu, May Allah allow you to persevere. I have a question that I hope that you can answer… It is known that “taxes” are Muharramah (prohibited) in Islam. So how can the State treat the deficit and particularly when there does not exist today “At-Tawzheef – Al-‘Ushoor – Al-Kharaaj”. […]

Q&A: Ad-Diyah (Blood Money) for the Unintentional Killing and the Deliberate Killing

Question: Assalaamu Alaikum Wa Rahmatullahi Wa Barakatuhu, The Diyah (blood money) for the unintentional killing (Al-Qatl Al-Khata’) is obligatory and is paid to the family (relatives) of the one killed. It has been reported from the Messenger of Allah ﷺ that it is 100 camels for the Bedouins or 1000 Dinar of gold or 12,000 […]