With the world's financial markets making huge losses in September 2011 and with the EU and the US drowning in their debt woes Khilafah.com provides some answers to the most important questions being asked.
Economy
The Financial Crisis and Growth
Global headlines continue to churn out news of economic meltdown. With the US debt downgrade and the possibilities of defaults in the Eurozone by countries such as Gree...Is Pakistan's economy dependant on western aid?
With increasing debate in the media over severing alliance with the US, agents of the US embassy also known as 'contacts,' in the language of the embassy cables, have s...The debt crisis: the making of the super rich
"The world with its billions does not have too many people, but it does have too many in their thousands who think that they are worth a million others."
Barely a year...Economic Development through Self Sufficiency
Central to the Arab spring has been the dire economic straits the Muslim world finds itself in. Mohamed Bouazizi's self-immolation which was the catalyst to the resulta...A New Economy for the Muslim World
With the revolutions in the Muslim world in full swing and now spreading from North Africa to the Middle East Western nations are attempting to hijack the Ummah's deman...Only the Caliphate can shield the ummah from the rise in food prices
A few days ago the UN warned that food prices could rise by 10% to 20% next year after poor harvests and an expected rundown of global reserves. More than 70 African an...Global Economic Crisis - The Quest for Growth
The IMF's annual gathering in Washington had one message, that the worlds economies need to work together to achieve sustainable economic growth. "The most important po...Oppressive taxes like VAT and GST are Haram in Islam
The Pakistan government has announced it will implement VAT (Value Added Tax) under the new name of reformed GST (General Sales Tax) under American diktats. This is a c...A Radical Approach to Pakistan's Economic Crisis
‘Roti, Kapra aur Mukan' (food, clothing and shelter)! This has been the selfless slogan of the PPP rulers since the party was founded in the 1970s. Yet with the deliv...Masses in Pakistan are skinned alive to fund the American crusade
It is only in the Islamic economic system where all the indirect taxes like GST, income tax, business tax, customs, excise, surcharge, additional surcharge, petroleum d...Q&A: Global Economic Crisis
بسم الله الرحمن الرحيم
Question:
We know that at the beginning of the Economic crisis in America the Dollar fell significantly with respect to the ...Q&A: Benefiting from Public Property in the Khilafah
In our books we find the hadith, "The Muslims are partners in three..." as well as the hadith, "The people are partners in three..." In light of this, the question is a...Is it forbidden to live a luxurious life in Islam?
When it is said that luxury (Taraf) is Haram it does not mean the life of ease is Haram, it rather means that arrogance which results from the easy use of wealth is Hara...The Collapse of Dubai's Economic Dream: A Consequence of Abandoning the Islamic Economic System
Whilst many have been looking at the prospect of global economic recovery, Dubai sent investors into a tailspin in December 2009 when the government revealed that it pl...Islamic Finance - A False Dawn
Open up the pages of any newspaper or Financial Magazine and you are guaranteed to find advertisements from banks announcing their latest Islamic finance products. Once p...Islam and Finance
Global finance today dominates the world economy. Western economies are characterised with financial sectors which generate billions for the economy. Stock Markets, multi...Islam and Taxation
Tax is one of the very few aspects of life which are certain alongside death according to the well known saying. Taxation is the system states use to raise money to finan...Islam and Industrial development
Whilst the Western world has managed to achieve phenomenal development since the industrial revolution the Muslim world on the other hand lags far behind. The Muslim worl...Islam and Economic Growth
President Harry Truman of the US, in his inaugural speech in 1949 encapsulated development: "Greater production is the key to prosperity and peace. And the key to greater...Global Economic Crisis Update: Curing the Patient with the Disease
Barack Obama in an article for the Washington Post laid out the economic challenges the world's largest economy faces: "By now, it's clear to everyone that we have inheri...The Economics of Money
As the world drifts into a global recession the US which dominated the global economic scene in the post World War II era has begun to lose its post World War II economic...Essay: Virtual Economy - Root Cause Analysis of The Current Financial Crisis
In a statement made to a congressional committee on April 3, 2008, the Chairman of the Federal Reserve Bernanke said that "if Bear Stearns had been allowed to fail, it wo...There are Alternatives to Free Market Capitalism!
The collapse of the Soviet Union in 1990 was heralded as a landmark event in history; it was considered the wholesale rejection of a way of life and end of Communism. The...Zakat
This Ramadan Muslims all over the world will choose this blessed month to fulfil the Islamic duty of paying their Zakat. For nearly 14 centuries Muslims have continued ...Taxation in Islam: Wealth Tax
Abdul-Kareem
The following article is based on the book Funds in the Khilafah State which is a translation of Al-Amwal fi Dowlat Al-Khilafah by Abdul-Qadeem Zalloom....
Currency of the Khilafah
Abdul-Kareem
The Khilafah's currency is based on the gold and silver standards where the coins and notes in circulation are 100% backed by gold and silver. Islam did...Q&A: Why are Oil prices so high?
Adnan Khan, Economics Correspondent
What has caused oil prices to skyrocket?
In order of influence:
Speculation
Refinery capacity
Western Consumpt...
Sovereign wealth funds - A challenge to the free market
Adnan Khan, Economics Correspondent
"The rise of "sovereign wealth funds" signals the end of the neo-liberal model and challenges western states and f...Your Money Is Not Good Anymore!
Politically Aware Muslim
The weakening US dollar is not a phenomenon restricted to its borders as its effects are being felt the world over. The fiat currency has in...
The Global Food crisis is the fallout from the failure of Western Capitalism
By Muhammad Arif
The past few weeks have increasingly seen disturbing headlines being made by the soaring cost of basic food commodities and subsequent ‘food ...
Islam's contribution to Agriculture and related matters
Agriculture is the production of food, feed and fibre by the systematic harvesting of plants and animals. Agriculture was developed at least 10,000 years ago, and has...
The Myth of Free Trade
The reasons for the current turmoil in International money markets such as panic selling go back to August 2007 when the Sub-prime market in the US collapsed which resu...
Part Two: The Khilafah, Investment and the Economy
In part one, the causes of the fragility of the financial markets were analysed and its impact on wider economy. However in any system businessmen, companies and bank...
How the Khilafah will industrialise the Muslim world
Industrialisation can be defined as when an economy is geared around manufacturing and this then acts as a stimulus to other sectors of the economy. An example of this ...
The model for economic prosperity
The Muslim world today languishes in economic decline. Whilst the
economies of the West are stable, prosperous and able to provide for
the basic needs of the majority o...An introduction to the Islamic Economic System
Islam recognised that humans will undertake a number of actions to
survive. These range from the buying of food, taking ownership of
property, selling goods, investme...News Watch
- Uzbek Man in Moscow Sentenced for Extremism
- Syria resolution vetoed by Russia and China at United Nations
- Homs 'massacre' leaves 260 dead
- US military drops 'kill team' charges against soldier
- Israeli commercial ridicules veil, angers Muslims
- Macedonia Muslims May Sue Carnival Mockers
- Cheerleader must compensate school that told her to clap 'rapist'
- Pakistan Court to Charge Prime Minister With Contempt
- US 'no-fly' list of suspected terrorists doubles in 12 months
- Syria activists commemorate Hama atrocities
New Articles
- Pakistan’s greatest crisis is the country’s withering leadership
- The Fallacy of Political Immunity
- Q&A: Recent Tensions with Iran
- Press Conference by Ahmad Al-Qassas on the UN ESCWA Conference
- Gold Standard: The future for a stable global currency
- Traitors in the Pakistan Army ready to reopen NATO supply line
- Army's secret agency abducted and tortured a member of Hizb in Islamabad
- Traitor Hasina must be removed for plotting with her US-Indian masters against the Muslim Army of Bangladesh
- The Islamic Khilafah...the difference between the sticking to principles of Hizb-ut-Tahrir and the compromises made by others
- O Muslims! Protest against the abductions, arrests and dismissals of sincere army officers by traitor Hasina at the behest of US-India
From KComment
- Responding to Afia's plight
- Untying the knots of Human Trafficking
- Imran Khan's Political Innings
- Reflections from occupied Kashmir
- Karachi Violence: A Failure of Government
- America cannot stop the Islamic Revival
- Dubai: The Mirage in the Desert
- Pakistan submits to its master America and releases Raymond Davis
- Eyewitness: Inside Egypt's State Security Headquarters
- Book Review: Baghdad's Spy - A personal memoir of espionage
