All posts filed under: Economy

Just like the First, the Second Mini Budget is Inspired by the IMF Agenda of Exploiting Pakistan’s Economy for Colonialist Interests

The second mini-budget presented on 23 January 2019 is certainly not a cause for rejoicing and praise. The second mini-budget became a practical necessity because the regime strangled the economy so hard with taxation, in its first mini-budget, that the economy choked to the point that its ability to cough up tax revenues was itself […]

Government’s Economic Focus Will Ensure More Economic Misery because it is based on IMF Priorities, not Our Own

Whilst lamenting over three decades of economic failure, on 24 January 2019, the Finance Minister, Asad Umar, revealed the government’s economic focus on addressing, “budget deficit due to an imbalance between government expenditures and revenues, increasing trajectory of imports vis-a-vis exports, and an increase in investments.” Asad Umar further acknowledged on-going negotiations with the IMF […]

The Khilafah Alone Will Rescue Pakistan’s Economy from the Colonialist Trap of the Dollar Peg and Interest Based Loans

As the Muslims of Pakistan brace themselves for the next mini-budget on 23 January 2019, it is clear that the current economic system is the cause of ever worsening economic hardship faced by the masses. Under the current system, Pakistan’s currency is crippled by the dollar peg, which has been imposed by Western colonialists as […]

The 2019 Budget was Born from the Womb of the Capitalist System Its Legacy is only Poverty and Hardship of Living

At the beginning of every year, the government comes out with the so-called the budget of the new year, promising us with rosy hopes and aspirations to reform the situation and change the deteriorating conditions. But after a few days the situation worsens, the hardship worsens, and the people suffer. This scenario has been repeated […]

The New Budget in Jordan Impoverishes People

and its a Political Crime that Confirms the Regime’s Treachery and its Subordination to the Colonial Powers The Jordanian government presented the draft state budget law for the year 2019 to the House of Representatives. In their preliminary discussions, the MPs criticized the draft budget law for not touching the reality and its estrangement with […]

The State Leads the People to Destruction through the Riba-based Financing System

The State Leads the People to Destruction through the Riba-based Financing System and Cheats them for the Benefit of Banks by Scheduling and Prolonging Individuals’ Debts Al-Araby Al-Jadid (The New Arab) website reported, on Sunday 30/12/2018, under the title “Jordan … Warnings of new protests against high prices and fines” that according to recent data […]

The Global Economy in a Flux

This article is an extract from the forthcoming, annual Khilafah.com report, Strategic Estimate 2019. The report assesses the state of the global balance of power and the key issues that will affect it and the emerging trends. The full report will be published around 1 January 2019 The global economy is changing as the economic […]

The Pension Regulations in Tanzania Reveals Capitalist Policies

Tanzania’s government has signed into law the Public Service Social Security Act 2018, which has resulted into chaos, frustrations, and more outcry among workers. The new Act joins all pension funds into two major entities; the Public Service Social Security Fund (PSSSF) and National Social Security Fund (NSSF), and introduced two new tricky benefits, the […]

Q&A: The Consequences of Deducting Part of the Employee’s Salary by the Employer and Adding a Part to it

Question: Assalamu Alaikium Sheikh، may Allah (swt) protect you and grant the victory through your hands… Ameen. In many Western countries we have a scheme called the Pension scheme. This is when the employee contributes a certain amount of his wage and gives it to the company he works for. The company also put in […]

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, 10000 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 […]

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 […]