The Turkish Statistical Institute has shared its inflation numbers for April. According to the numbers of the institute, the consumer price index (CPI) increased by 69.97% year-on-year and 7.25% month-on-month. The Inflation Research Group (ENAG), which is composed of academics, announced that the inflation figure for April was more than double the figures of the […]
Speaking at an international meeting of foreign investors in France on March 16, 2022, Minister of Finance and Treasury Nurettin Nebati advised investors to grow by investing in Turkey and said Turkey is a country of opportunities for capital owners. Nebati said in his speech here: “If you invest in this country, your property as […]
The ruling authority in Lebanon still insists on following the path of usurious borrowing from the International Monetary Fund (IMF) and the World Bank. Bringing Lebanon and its people under economic colonialism, by the IMF and the World Bank, and behind them America, which owns the largest share in them! This is despite the fact […]
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 […]
Question: The Turkish lira plunged to its lowest level in a short period, losing more than 30% of its value in less than two months, and losing more than 45% of its value since the beginning of this year. The inflation doubled to about 21% and prices rose significantly. Note that it has been in […]
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) […]
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 […]
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 […]
The Taliban obliged the inhabitants of Afghanistan to use only the national currency in trade. Deputy Minister of Information and Culture in the interim cabinet Zabihullah Mujahid announced this on his Twitter page. The statement says that the use of foreign exchange negatively affects the economy, and these losses are reflected in every inhabitant of […]
A few days ago, adviser to the Prime Minister on Finance and Revenue, Shaukat Tarin told the media that matters with the IMF will be concluded over the revival of the $6 billion Extended Fund Facility (EFF). He also said that a formal announcement will be made soon. [Source: Dawn]
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
The IMF and the World Bank are considered amongst the important financial tools, used by major capitalist powers to dominate the world economy. This is being done by plunging other countries into continuous debts, whilst imposing economic dependency. Thus the loans offered by these financial institutions are the means of extending influence. They are political […]
A sudden surge in the prices of petroleum products by more than Rs. 10, in compliance with IMF dictation, has dropped a new petrol bomb on the people, who are already crushed by inflation. The people are skinned alive to achieve the target of Rs. 610 billion of petroleum development levy set by the IMF.
Even Imran Khan knows that the inevitable consequence of the IMF programmes is worsening poverty. Before coming to power, in an interview published in the British newspaper, “The Guardian,” on 18 September 2011, Imran Khan emphatically warned, “Every country I know that has had IMF or World Bank programmes has only impoverished the poor and […]
Pakistan Will Be Enslaved by Oil Prices Set by the Colonialist Powers, Until It is Liberated by the Khilafah from its Nation State Prison The Price fixing of global oil prices is not based on economic principles or market demand, but only to secure the interests of the colonialist powers.
On 28 July 2021, the economic advisory wing of the finance ministry declared in its Monthly Economic Outlook (MEO) for July that, “In the transition towards a higher potential growth level, pressure can be built on external accounts, calling for close monitoring to ensure that the new growth strategy is sustainable.”
The global economic recovery continues, but at the same time the gap between prosperous countries and countries with developing and emerging markets is widening. This warning was issued by the International Monetary Fund.(Source:ru.euronews)
On Monday, 26/7/2021, a senior official in the government of Maeen Abdul Malik was cited by the Reuter’s report, that he had decided to raise the price of the customs dollar from 250 riyals to 500 riyals, an increase of 100% in an attempt to support the deteriorating public treasury. This does not apply to […]