All posts tagged: riba

Aydin (Turkey): Panel discussion to discuss the Islamic solution to the Economic Crisis

Hizb ut Tahrir / Wilayah Turkey organized a panel discussion in the city of Aydin as part of its campaign entitled “The Islamic Solution to the Economic Crisis”, which offers radical Islamic solutions to the current economic crisis in Turkey, by communicating with NGOs, representatives of parties and local media institutions and answering their questions.

Kahramanmaras (Turkey): Panel discussion on the Islamic solution to the Economic Crisis

Hizb ut Tahrir / Wilayah Turkey organized a panel discussion in the city of Kahramanmaras as part of its campaign entitled “The Islamic Solution to the Economic Crisis”, which offers radical Islamic solutions to the current economic crisis in Turkey, by communicating with NGOs, representatives of parties and local media institutions and answering their questions.

Economic Conference in Adana, Turkey: “Islamic Solutions for the Economic Crisis!”

Hizb ut Tahrir / Wilayah Turkey organized an economic conference at Yorgir Center for Public Education in Adana entitled “Islamic Solutions to the Economic Crisis!” The conference, which was presented by Ustaadh Furkan Turamantkin, began with the opening speech of Ustaadh Aziz Terazi, followed by the speech of Ustaadh Musa Beyoglu, in which he clearly […]

After the Failure of Both Parliamentary and Presidential Democracy, It is Time for Khilafah

The failure of democracy is glaringly obvious. After the failure of Musharraf’s presidential democracy and the parliamentary democracies of Zardari, Nawaz and Imran Khan, it is clear that any ruling system based on laws originating from limited human minds has failed. Such Western ruling systems have only enslaved Pakistan to Western colonialist exploitation for decades. […]

Economic Conference in Bursa: “Islamic Solutions for the Economic Crises in Ten Points!”

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.

Pakistan’s Economic Miseries Resulting from IMF Dictates, will only End Through a Khilafah, Abiding to the Commands and Prohibitions of Allah (swt) and His Messenger (saw)

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 […]

Re-Establish the Khilafah (Caliphate) on the Method of Prophethood, To Rid Us of Rulers that Bind us to the Destructive Western World Order

Change under the current system is impossible. Those who voted for Imran Khan’s PTI, to escape the corruption of PML-N and PPP, are now holding their heads in despair. The situation is so bad that there are even those who are willing to go backwards, to the previous rulers. However, the reason why the current […]

Interest Based Debts Extended to Us by Colonialist Powers and their Tools Only Ensure Our Economy Sinks in Debt, Not Progress

On 9 January 2022, the embattled Sri Lankan President, Gotabaya Rajapaksa, during a meeting with the Chinese Foreign Minister, Wang Yi in Colombo, requested the lightening of interest-based debt repayments to China. Over the last decade China has lent Sri Lanka over $5 billion for highways, ports, an airport and a coal power plant, as […]

Khan’s State Bank of Pakistan Autonomy Bill will Enable the IMF and International Creditors to Commit Daylight Robbery

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 […]

The Global Wealth Inequality will only End through the Economic Order the Khilafah Will Establish

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 […]

You are not Powerless! Islam is the Only Direction to Solve All Crises

Over the past two months, Turkey was going through a major economic crisis. The Turkish lira is constantly declining day by day. Although Wednesday heralds the arrival of Thursday, yet the wrong policies that were implemented over the years are waving an invitation to usher crises. Although the exchange rate has also increased, officials are […]

Q&A: The Turkish Lira Falls to its Lowest Level And its Implications on the Presidential Elections in 2023

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 […]

Fuliza M-Pesa, A Continuous Flowing of Riba

Kenyans borrowed Sh1.32 billion daily from Safaricom’s overdraft facility Fuliza between April and September this year, underlining increasing reliance on loans for household use. This was revealed by Safaricom on Wednesday, which posted a Sh37.055 billion net profit for the half year to September 30 boosted by higher M-Pesa revenue. Safaricom’s financial results show that […]

The Khilafah Will Eradicate Rampant Inflation, By Abolishing Paper Fiat Money and Issuing Currency Based on Gold and Silver

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 […]

Without Islam to Rule Over Us, the Current Rulers Create a Storm of Inflation by Submitting to the American Economic Order

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 […]

Nothing Less than the Re-Establishment of the Khilafah will End Our Perpetual Economic Agony!

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 […]

The International Economic Order Prevents the Rise of the Islamic Ummah as an Economic Power!

Pakistan’s rulers use the US dollar for international trade, in obedience to the colonialist IMF. Amidst a shortage of dollars, the rulers also take interest-based loans in dollars to finance our economy. The Rupee weakens against the dollar, unleashing back-breaking inflation, whilst Pakistan is plunged into an ever growing, interest-based debt. In the Khilafah, the […]

The Western Economic Order Ensures Dollar Hegemony

Nothing Less than the Sound Economic Policies of the Khilafah Will End Inflation The Muslims of Pakistan are crushed by waves of back-breaking inflation as the Rupee crumbles before the dollar. Household budgets for many are stretched to provide just two meals a day. Despite the hue and cry against inflation by the opposition, it […]

As Long as the Pakistani Rupee is Not Linked to Gold and Silver, It Will Continue to be Devalued, Drowning Us in Back-Breaking Inflation

The Pakistani rupee has been depreciating rapidly over the past month. On 10 July, 2021, one dollar was selling at Rs. 155.92, whilst on 5 August 2021, one dollar was selling at Rs. 163.41. Thus, in less than a month, the rupee has lost Rs 7.49, or 4.8 per cent, of its value against the […]

Pakistan’s Rulers Mercilessly Tax the Poor and the Indebted to Fill the Pockets of Those Who Peddle in the Sin of Interest

On 11 June 2021, in their budget announcement, Pakistan’s rulers made great fanfare of reducing taxation on certain sectors and increasing the salaries of government employees. Then, within days, the mouthpieces of the rulers made an even greater fanfare, through every platform available to them. However, in the same budget, Pakistan’s rulers increased overall taxation […]

The Take Over of the State Bank of Pakistan by the Colonialist IMF is to Secure the Interests of Pakistan’s Creditors at Our Expense

The IMF’s demand regarding the State Bank of Pakistan is a project of structuring Pakistan’s economy in a manner that it can continue to pay back the interest on loans, with no regard whatsoever for the economic well-being of the people of Pakistan. The result will be increased interest payments on domestic debt, higher taxation […]