All posts tagged: usury

Without Islam’s Gold Dinars and Silver Dirhams, Our Currency Will Always Collapse Before the Dollar. Dollar Hegemony is Maintained by the IMF, the Guardian of the Western International Financial Order

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 […]

Egypt’s Economic Crisis is, in fact, a Systemic Crisis It is the Root of the Disease and the Source of Affliction

Extreme poverty, disguised unemployment, political and economic chaos, outrageous wealth for a few at the expense of the majority of people, an unprecedented drop in the value of the pound against foreign currencies, eating up people’s savings, a strong decline in the standard of living, a steady increase in public debt, an unprecedented rise in […]

Government is stealing the Hard-Earned Savings of the People by Printing Fresh Money without Real Asset backing; Only the Khilafah State’s Bimetallic Standard (Gold and Silver) can end Capitalism’s Monetary Hegemony

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 […]

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 […]

The Banking System is the Looting Machine of the Capitalist Ruling Elites; only the Khilafah State’s Treasury can protect the Hard-Earned Deposits of the People

Janata Bank and Islami Bank’s new loan scams have come to light soon after the incidents of the looting of Taka 95 billion from three banks by opening fake address and paper companies were revealed. On December 18, the Daily Star Newspaper published a report that in 2020, four big tycoons of the country took […]

Compliance with IMF Prescription to Increase Fuel Price is only for the Survival of Hasina’s Corrupt Regime, but Suicidal for our Economy

Amid public suffering due to the price hike of essentials and hampering of industrial production due to the power crisis, the deceitful Hasina government has decided to increase the bulk electricity prices by 19.92% to Tk6.20 kWh from the previous price of Tk5.17 kWh in compliance with the prescription of International Monetary Fund (IMF).

O People of Kinana: Your Patience is Humiliation and your Silence is a Crime What Happens after the Successive Waves of Flotation?!

On Thursday morning, October 27, 2022, the Central Bank of Egypt raised interest rates by 200 basis points, during an exceptional meeting, so that the rate of return for deposit and lending overnight became 13.25 percent and 14.25 percent, respectively, and the Central statement included an important paragraph in which it said that: “Reform measures […]

Not the Heterodox Approaches, but the Economic System of Islam will Save Turkey

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 […]

All those Who Desire Independence from America, Must Work to Re-Establish Khilafah (Caliphate) on the Method of Prophethood

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 […]

At the Behest of the IMF, Pakistan’s Rulers Slow the Economy Down, Choking Business and Trade, To Conserve Dollars, Just to Pay Off Foreign Interest Based Debt!

The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) has raised interest rates by 1.5 % to 15 %. According to the SBP’s own press conference, the increase is to slow the economy down, whilst claiming that such demand contraction is a must, otherwise high growth is unstable, worsening inflation. Even after […]

Like Secular Democracy, Secular Courts are Protectors of Interest, Ensuring the Case Demanding Abolition of Riba Runs in Circles

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. […]

Adopting Gold and Silver as the Basis of the Khilafah’s Currency is a Shariah Ruling, Which Will Bring Price Stability and End the Menace of Rampant Inflation

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 […]

Selling Property to Make Ends Meet is a Growing Phenomenon in the State of Tax Collection that is Incapable of Taking Care of People’s Affairs

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 […]

The Annual Khilafah Conference of Hizb ut Tahrir / Wilayah of Tunisia 2022

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 IMF Curse

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 […]

Pakistan’s Economy is Crashing!

Pakistan’s economy is crashing due to international trade based on the dollar, debt with interest (riba) and expensive oil and machinery imports. Islam establishes all trade on gold and silver, ending dollar hegemony. Islam abolishes interest (riba), ending the debt trap. Islam obliges substantial domestic heavy industry to ensure independent, powerful armies. The Khilafah will […]

Be it the London Plan or the Islamabad March, Under Democracy, the People are Being Skinned Alive

The media commentators are trying to engage the people in debate over the London Plan and Islamabad March, as if there is any hope that these plans and political maneuvers will solve the problems of the people. Be it Maryam Aurangzeb, Shahbaz Gul or Rana Sanaullah, their rhetoric is like that of Nadr bin Harith, […]

With a Collapsing Rupee and an Eruption of Inflation, Democratic Capitalist Policies Have Shoved the Economy into Intensive Care.

The Khilafah Alone Will Build an Independent Economy through Islamic Policies. An independent nation can never be born of slavery-based economic structures, policies and regimes. What is the result of seventy years of enslaving, democratic, capitalist policies? When the international price of oil rises, the economy begins to falter, sputter and stall. When the US […]

The Constant Inflation is Due to Currencies that Lose their Value Constantly, as They are not Based on Gold and Silver

Like other currencies, the Dollar, the Pound and the Franc, originally, the Rupee was backed by real tangible wealth in the form of a precious metal. In the case of the Dollar, it was gold, in the case of the Rupee it was silver. This system stabilized the value of the monetary unit both internally […]

Karaman Turkey: Panel Discussion on the Islamic Solution to the Economic Crisis

Within the framework of the series of conferences, seminars and panels organized by Hizb ut Tahrir / Wilayah Turkey under the title “The Islamic Solution to the Economic Crisis”, coinciding with the 101 anniversary of the destruction of the Khilafah (Caliphate) in the 28th of Rajab 1342 AH, the party met with representatives of political […]

Aksaray Turkey: Panel Discussion in Aksaray to Discuss the Islamic Solution to the Economic Crisis

Within the framework of the series of conferences, seminars and panels organized by Hizb ut Tahrir / Wilayah Turkey under the title “The Islamic Solution to the Economic Crisis”, coinciding with the 101 anniversary of the destruction of the Khilafah (Caliphate) in the 28th of Rajab 1342 AH, the party met with representatives of political […]

Kenya’s Debt Crisis: Politicians Exchange Swords and Deceit from Addressing the Elephant in the Room (Capitalism)

Kenya is Sh1 trillion shy of hitting the Sh9.1 trillion debt ceiling. The latest National Treasury debt registry shows the country’s gross public debt stood at Sh8.2 trillion by last December. Total external loan was Sh4.174 trillion with multilateral loans standing at Sh1.782 trillion, commercial Sh1.208 trillion and bilateral Sh1.17 trillion. Kenya might have to […]

Inegol (Turkey): Economic Conference: “The Islamic Solution to the Economic Crisis”

Hizb ut Tahrir / Wilayah Turkey in Inegol in the province of Bursa organized an economic conference entitled “The Islamic Solution to the Economic Crisis!” In conjunction with the occasion of the 101st Hijri anniversary of the demolition of the Khilafah (Caliphate) State on the 28th of Rajab 1342 AH.

Imran Khan’s Address Confirms the Global Failure of the Capitalist Economic System, From Which Only the Khilafah Provides Escape

Imran Khan lamented that the whole world, including Pakistan, is facing a storm of inflation. This is due to the exploitative system of the international economic order. However, his desperate pre-election appeal was devoid of alternatives to capitalism, blaming previous governments for catastrophic economic management. As for the economic relief he announced, it will increase […]