At the beginning of September, two extraordinary events occurred almost simultaneously in Indonesia. The first is the series of the 43rd ASEAN Summit which was held in Jakarta on 5-7 September with the theme ASEAN as the epicentrum of growth. Second, at the same time clashes broke out in Rempang – Batam which occurred on […]
Question: Assalam Alaikum Wa Rahmatullah Wa Barakatuh. Jazak Allah Khair and may Allah (swt) open ways for you. If you would be so kind, I would like to ask a question: What is the ruling on renting gold, since there are those who rent gold for a day or more, and this custom has become […]
Question: Bismillah Ar-Rahman Ar-Raheem Assalam Alaikum Wa Rahmatullah Wa Barakatuh our Ameer. I ask Allah (swt) to guide your steps and make Islam dominant by your hands.
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 […]
The government’s major concerns in finalizing the FY24 budget are limited revenue income and compliance with IMF loan requirements. The record budget of Taka 7617.85 billion has a record deficit of Taka 2578.85 billion when foreign funding and loans are factored in. To meet the massive spending, a total revenue target of Taka 5039 billion […]
With the discussion of De-Dollarization, comes one of alternatives currency options. We know that the dollar will not be replaced in this system, even if countries begin to move away from the dollar to other currencies in an attempt to decrease their reliance on US currency. So, the other option is the Gold Standard. We […]
On 26 May 2023, Pakistan’s Finance Minister informed the US Ambassador about plans related to revenues and expenditures, for meeting international financial obligations. Having received approval from their master, Pakistan’s rulers are now preparing another colonialist budget, which will further weaken our economy. Moreover, when the rulers are asked about the issues faced by the […]
The International Monetary Fund (IMF) said that Jordan’s prudent fiscal and monetary policies have maintained economic stability and a positive future outlook for external creditors and global rating agencies. This came in a press interview with “The Kingdom” conducted by the Resident Representative of the International Monetary Fund in Jordan, Kareem Ismail, on 12/4/2023.
It was never unexpected that the House of Representatives, with a rate of 75% of the attendees, would approve the general budget law for the fiscal year 2023, despite the harsh criticism of the bill during the 3-day debate sessions due to the financial deficit, the high riba (usury) of public debt, and the absence […]
This year, as we all deal with rising prices, increased cost of living, reduced savings and increased income inequality, it is widely believed that the global economy is heading towards a recession and the economic situation for millions of people will worsen. While the exact timing of a recession is difficult to predict, there are […]
Complying with IMF conditions, Pakistan’s government sharply devalued the rupee, by around twenty-five rupees, which is ten percent of its value, unleashing a storm of inflation. A sharp increase in the prices of electricity, oil and gas is expected soon, with news that an ordinance to impose additional taxes of 300 billion is on its […]
Bangladesh Bank created fresh money of more than Taka 500 billion in the July-December period in the name of budget support, the highest in recent history (The Business Standard, January 03, 2023), to compensate the money looted from the banks by the Capitalists elites. The default loans of the commercial banks have already reached Taka […]
Malaysia: The issue of supply and the increase in the price of eggs is still a hot topic at the moment. Earlier this month, the Agriculture and Food Security Minister, Mohamad Sabu, announced the new lower price of eggs. The Prime Minister, Datuk Seri Anwar Ibrahim also stressed on the government’s aim to reduce dependence […]
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 […]
The International Monetary Fund (IMF) announced its approval of a 46-month cooperation program for Egypt, in an amount of 3 billion US dollars, according to a statement from the IMF on Saturday 12/17/2022. The package of policies included in the program includes measures, including the permanent transition to a flexible exchange rate system and the […]
Nureddin Nebati, Minister of Treasury and Finance, who made an opening speech at the “Economic Transformation and New Paradigms Summit” hosted by the Ministry of Treasury and Finance, presented statements regarding the economy. Minister Nebati interpreted the economy by using eccentrical loanwords and used these statements: “The heterodox approach, which represents an epistemological break from […]
Today (26th September 2022), the value of Malaysian Ringgit (RM) slumped to the lowest level ever recorded since the 1997 financial crisis where the exchange rate of 1 USD is now equivalent to RM4.60. The depreciation RM occurred as many investors turned to safer currencies due to the uncertain global economic outlook. Economists blamed the […]
The Bank of England has said it will “not hesitate” to hike interest rates to curb inflation after the pound fell to a record low against the US dollar. Its statement came after the Treasury said it would publish a plan to tackle debt in a bid to reassure investors. Sterling fell to an all-time […]
The country wide debate, from the masses to the people of power, has widened from the crash of the Rupee before the US dollar, and the use of Pakistan’s air space for American drones, to how Pakistan can become truly independent, whilst we bear grave losses to our economy, education, health and security. The long […]
The Abolition of Riba is only Possible under the Khilafah, from the Moment of its Establishment #KhilafahEndsRiba Muslims are outraged that the recent ruling of the Federal Shariat Court to remove interest from Pakistan’s economy has once again been challenged in the Supreme Court, where the case had been pending review for twenty years already. […]
In a positive development, a debate has erupted over Islam’s ruling regarding adopting gold and silver as currency of the Khilafah, as a solution to the high inflation, which the Muslims of Pakistan face today. The debate has spread from those who advocate Islam, in support of gold and silver currency, to include those who […]
Headlines: * The Role of the West in the Plight of Indian Muslims * After Agreement with IMF, Pakistan Gets $2.3 Billion Loan from China * Ukraine War Highlights Stakes of Chinese Attack on Taiwan The Role of the West in the Plight of Indian Muslims The national spokesperson of India’s ruling Bharatiya Janata Party […]
The world of today is still living on the impact of renewed economic crises, but it continues to be relieved of bad treatments and their distance from the serious issue of the economy, especially in light of the control of the global capitalist system and its global banks and funds in the paths of countries, […]
In the city of Bahri in the capital, Khartoum, you find a large number of people trying to sell second-hand household items that are in good condition, in order to meet the spending deficit. People who are scattered with items offered for sale are not merchants, as it appears from their appearance and way of […]
On the 101st painful anniversary of the demolition of the Khilafah (Caliphate), and with the intensification of efforts to reestablish it, so that Muslims can enjoy the heights of glory under it, and regain their lost pride, humiliated dignity and leadership for humanity, Hizb ut Tahrir is holding its annual conference in the Wilayah of […]
The authorities in North Darfur launched an investigation into the death of two children from starvation in one of the districts of El Fasher, the state capital, two days ago. In a statement from Save the Children on Wednesday claimed it “is urgently calling on the international community to prioritize the humanitarian response in Sudan […]
Headlines: • Global Nuclear Arsenal Expected to Grow for First Time in Decades • Ukraine Admits Russia Is Winning in the Donbas in Plea for More Weapons • Russia Gains $100 billion on Energy Exports since Invasion of Ukraine • People in Pakistan Urged to Drink Fewer Cups of Tea
Somali President, Hassan Sheikh Mohamud, on Thursday took the mantle of power for the second time, vowing to reconcile his country’s divided political groups, as well as relations with neighbours following years of bickering. Mr. Mohamud, who took over from Mr. Mohamed Farmaajo, said his country will remain neutral in the international space, while befriending […]
The Pakistan government is currently negotiating a deal with the International Monetary Fund (IMF) to secure a bailout which it argues is needed to keep its economy afloat. Officials are in talks with the financial institution to unlock the remaining $3 billion from a $6 billion loan programme which the Imran Khan led government agreed […]
In the context of Hizb ut Tahrir’s campaign in Wilayah Lebanon regarding the parliamentary elections that were held on May 15, 2022, and the resulting results, and the arrival of Dr. Abdel Rahman Al-Bizri to Parliament as a representative of the city of Sidon, and the continued deterioration of the economic and living conditions in […]
