All posts tagged: banks

The People are Crushed by Electricity Bills for the Profit of the Owners of Banks and Private Power Plants

The Solution is to Make this Sector Public Property, Under State Supervision, as per the Shariah Rulings of Islam. With the arrival of the August bills, the public’s patience finally ran out. For the past several years, electricity bills have been increasing rapidly, upon dictation by the IMF. From July last year to July this […]

The Khilafah Alone Can Solve the Continuous Crisis of Financial Shortages in the Economy of Pakistan

Successive Pakistani governments have consistently faced the challenge of fiscal deficits. It means the state is continuously short of resources to spend on the people. This shortage of resources faced by the state is the direct consequence of the economic governance structures implemented in the country. Pakistan’s ruling elite implements the capitalist economic model in […]

Dealing with Usury is still Dealt with in Yemeni Banks Instead of Stopping It

The talk about usury (riba) and usurious dealings in Yemeni banks has returned to the pages of Al-Thawra Newspaper again, as it stated in its issue 21278 issued on Tuesday, 1 Sha’ban 1444 AH corresponding to 02/21/2023: “Based on faith and national responsibility, there is great tendency in Yemen at the level of the revolutionary […]

Federal Shariat Court’s Interest Prohibition: A Fig Leaf for Capitalism’s Ugly Side

The Question On 28th April this year, the Federal Shariat Court (FSC) once again declared that riba (banking interest) was prohibited according to the injunctions of Islam and so it should be eliminated from the country within five years. The ruling established two clear sides; Islamists that became jubilant as they see this as a […]