The Islamic Emirate held the Afghanistan Economic Conference in which representatives of 20 countries attended in person while 40 others joined online. This conference was aimed at assessing the economic problems of Afghanistan in different arenas in order to figure out appropriate solutions to the problems.
Hizb ut Tahrir / Wilayah Turkey organized an economic conference in Bursa entitled, “Islamic Solutions for the Economic Crises in Ten Points!” The brothers that presented the correct Islamic solution to the economic crisis afflicting Turkey were: Ust. Serdar Yilmaz, Ust. Musa Beyoglu, and Ust. Abdullah Imamoglu.
The National Assembly on Thursday, 13th January 2022, passed the controversial Finance (Supplementary) Bill, known as the “mini-budget,” along with the State Bank of Pakistan (Amendment) Bill 2021, during a prolonged session, amidst fierce objection from the opposition benches. The Finance Bill and the SBP bill, both tabled on 30 December 2021, are necessary to […]
The Media Office of Hizb ut Tahrir / Wilayah Tunisia held a symposium on Tuesday, January 11, 2022, entitled: “The Revolution from Tunisia… Challenges and Prospects” at its central headquarters in Ariana.
Hizb ut Tahrir/ Wilayah Turkey organized an economic conference at the Kocatepe Cultural Center in Ankara entitled, “Islamic Solutions to the Economic Crisis in 10 Points.” The brothers that presented the talks were Ust. Süleyman Uğurlu, Ust. Muhammet Hanefi Yağmur, Ust. Musa Bayoğlu, and Ust. Abdullah İmamoğlu who presented the Islamic solutions to the economic […]
Turkey woke up to the first morning of the new year with the stream of price hikes. On the last day of the year, towards midnight, electricity, natural gas, fuel and bridge toll were increased at a very high rate. (Agencies)
Khan’s new bill seeks to make the State Bank of Pakistan (SBP) autonomous and has drawn widespread condemnation. The former finance minister, Miftah Ismail described the bill as converting the SBP into the “bank of IMF”. [aninews] Ismail also declared that the new measures would make the SBP more powerful than the parliament as “there […]
Hizb ut Tahrir in Wilayah Turkey organized a press conference entitled, “Islamic Solutions to the Economic Crisis in Ten Points!” Ustaadh Hakki Eran, Ust. Mehmet Hanafi Yagmur, Ust. Musa Beyoglu, Ust. Suleyman Ugurlu, Ust. Mahmut Kar, Head of the Media Office of Hizb ut Tahrir in Wilayah Turkey, where they outlined in ten points the […]
While the fall of the lira touched the threshold of thirty thousand liras per dollar, and with the outrageous high prices in all aspects of life, the collapse of the purchasing power of the lira to the limits of 95% of its value, and the salaries of the employees that became even less than subsistence, […]
On Tuesday, 28/12/2021, Minister of Finance, Siham Boughediri Namsiyah announced during a press conference on the government’s budget for the year 2022, which was issued by a presidential decree that included the chapters of the Finance Law for the year 2022, she estimated the deficit at 8.548 billion dinars. She said, “The Tunisian state will […]
The United States Congress recently approved a $777.7bn defense budget, a five percent increase from last year. This move came after they pulled the last American troops out of Afghanistan and was justified as a way of dealing with the intensifying competition with China. (Al Jazeera) The budget approval had bipartisan support and supports the […]
The immense concentration of wealth under the current capitalist world order has now reached intolerable levels. The World Inequality Report 2022 from the Paris-based World Inequality Lab stated that, “The share of the bottom 50% of the world in total global wealth is 2%… while the share of the top 10% is 76%.” The report […]
Doing the same thing repeatedly will never yield different results and that applies to Democracy. The experience of “New Pakistan” after old Pakistan failed because both old Pakistan and New Pakistan were in fact the same Pakistan, under the same colonialist, capitalist Democracy. The vision of New Pakistan, of eradicating corruption and ensuring transparent leadership, […]
The devaluation of the Turkish lira. Comment: Turkey’s national currency, the Turkish lira, has drastically plummeted in the last quarter of this year, from 8.86 Turkish liras for one dollar in October to 16.42 Turkish liras for one US dollar. So, the Turkish lira lost almost double its value against the US dollar and that […]
President Recep Tayyip Erdogan spoke at the Parliamentary Conference of Islamic Countries at Dolmabahce Palace. Erdogan, who quoted from Surah Al-Baqarah during the speech, stated that Allah orders as follows, namely: “And We will surely test you with something of fear and hunger and a loss of wealth and lives and fruits, but give good […]
Over the past few days, the value of Afghan currency has unprecedentedly fallen to record low against the US dollars in 2 decades. Moreover, the financial sector and several major Afghan banks are on the verge of collapse. This has led to rising market prices, poverty and unemployment, plunging Afghanistan into an unprecedented economic crisis.
Hizb ut Tahrir/ Wilayah Turkey organized a conference in Istanbul entitled, “Islamic Solutions to Economic Problems.” Ust. Abdullah İmamoğlu gave a speech entitled “Islam is the Only Source of Revival ” and after the brother’s speech a video recording was shown entitled, “The Source of Economic Problems and their Islamic Solution.” Musa Bayoğlu entitled, “The […]
Turkey’s agenda is shaken by the dramatic collapse of the Turkish lira against the US dollar. The US dollar, which was equivalent to about 6 Turkish liras at this time last year, has crossed the 13 Turkish liras range. The rise in the exchange rate naturally leads to a rise in the prices of all […]
In November 2021, Pakistan and the International Monetary Fund (IMF) reached a staff level agreement for the next interest based loan tranche, upon fulfillment of IMF conditions. The IMF conditions include an increase of Rs. 350 billion in taxes through a mini-budget, an increase of Rs 4 per liter in the Petrol Development Levy (PDL) […]
West Raises Alarm of Renewed Russian Escalation at Ukrainian Border According to a report by the Military Times on Sunday, ‘Russia has more than 92,000 troops amassed around Ukraine’s borders and is preparing for an attack by the end of January or beginning of February, the head of Ukraine’s defense intelligence agency told Military Times.’ […]
GST and income tax are regressive taxation. Regressive taxation burdens the poor and indebted. Islam forbids regressive taxation. The poor and indebted receive Zakah. The Khilafah taxes only the financially capable. Yearly Zakah on trading merchandise above Nisaab. Yearly Kharaaj from agricultural land owners. The Messenger of Allah (saw) said, لَا يَدْخُلُ الْجَنَّةَ صَاحِبُ مَكْسٍ […]
Headlines: • Déjà vu Sudan • Pakistan Turns to IMF Again • New Bill to Remove British Citizenship Déjà vu Sudan After being removed in a coup a month ago Abdalla Hamdok has reinstated by General Abdel Fattah al-Burhan after signing a political agreement. Twelve cabinet ministers submitted their resignation in protest against the political […]
Inflation measured through the Sensitive Price Index (SPI) posted an increase of 1.07 per cent for the week ended on November 18, driven by a sharp rise in the prices of essential food items, data released by the Pakistan Bureau of Statistics (PBS) confirmed. The PBS data showed that this is the sixth consecutive week […]
Headlines: • After Lira Tumble, Turkey Faces Threat of Inflation and Currency Crisis • US: Pakistan, Taliban Violators of Religious Freedom • Paulson Warns of ‘Dangerous’ World If China-U.S. Tensions Worsen After Lira Tumble, Turkey Faces Threat of Inflation and Currency Crisis As expected, the central bank cut rates by another 100bps, which sent the […]
In Pakistan, from July 2018 to June 2021, the capital in circulation ballooned by 2,300 billion, whilst bank deposits soared by 6,000 billion. 8,300 billion rupees flooded into the system in just three years, whilst the country’s gross domestic product did not rise to match that surge, largely remaining stagnant. The inevitable result was a […]
We are suffering immensely, as the economy obviously collapses, despite the reassurances of Pakistan’s rulers. The rupee is collapsing in value, whilst inflation is spiralling out of control. Fuel, electricity and gas prices are all increasing, as are taxation and unemployment. As if our economic misery were not enough, the rulers use the weak economy […]
By November 2021, the Rupee fell to 175 Rupees to a dollar, unleashing crushing inflation upon the citizens of Pakistan. Inflation is a permanent feature of the capitalist economy, irrespective of the re-opening of the economy after lockdown. Unlike Islamic gold and silver currency, fiat paper money loses its purchasing power, as governments print more […]
The 3 November 2021 address of Pakistan’s Prime Minister, Imran Khan, regarding inflation was to prepare opinion for another batch of catastrophic IMF economic policies. The so-called 120 billion Rupees “relief” package announced for 20 million people, amounts to only Rs. 1,000 per person per month, for six months. This is whilst the middle classes […]
The Rupees is tied to the dollar The Rupee is constantly weakening, causing huge inflation. In 2018, one dollar bought 120 Rupees On 26 October 2021, one dollar bought 175 Rupees. The Messenger of Allah (saw) declared gold and silver as the basis for currency. The prices in the Khilafah were stable for centuries. #KhilafahEndsAmericanEconomicOrder
Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin held a series of meetings with senior officials of the International Monetary Fund (IMF) in Washington on Wednesday for finalising the release of the next tranche of a $6 billion loan facility. When asked if the IMF was asking Pakistan to do more to […]
