All posts tagged: usury

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)

Published by Engineer Shahzad Shaikh

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

Published by Hizb ut Tahrir Wilayah of Pakistan

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

Published by Media Office of Hizb ut Tahrir in Wilayah Pakistan

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

Published by Abdul Majeed Bhatti

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

Published by Musab Umari

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

Published by Media Office of Hizb ut Tahrir in Wilayah Turkey

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

Published by Editorial

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

Published by Shabani Mwalimu

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 […]

Istanbul Conference: “Islamic Solutions to Economic Problems”

Published by Hizb ut Tahrir/ Wilayah Turkey

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 […]

The Source of the Crisis is the Kafir Capitalist System, not the Structure of the Authority or Management

Published by Media Office of Hizb ut Tahrir in Wilayah Turkey

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 […]

The Khilafah’s Gold and Silver Currency Will End the Inflation, Caused by Printing Money to Cover Government Expenditure

Published by Media Office of Hizb ut Tahrir in Wilayah Pakistan

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 […]

Only the Implementation of the Islamic Economy will End the Volatility of the Afghan Currency

Published by Abu Yusuf Hamza

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 […]

Under Islam, Pakistan will Escape the Debt Trap!

Published by Hizb ut Tahrir / Wilayah Pakistan

Pakistan spends more than half of collected taxes on interest payments. In 2011, Pakistan’s debt was 10 trillion rupees. In 2021, Pakistan’s debt is around 40 trillion rupees In Islam, interest (Riba) is strictly forbidden. Allah (swt) said, [يَا أَيُّهَا الَّذِينَ آمَنُوا اتَّقُوا اللَّهَ وَذَرُوا مَا بَقِيَ مِنَ الرِّبَا] “O you who believe! Fear Allah […]

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

Published by Media Office of Hizb ut Tahrir in Wilayah Pakistan

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

Published by Media Office of Hizb ut Tahrir in Wilayah Pakistan

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 […]

This is How the Houthis Allowed America to Use the Economic Card

Published by Media Office of Hizb ut Tahrir in Wilayah Yemen

On Saturday, 03/07/2021, the government’s daily newspaper, Al-Thawra, conducted a lengthy interview with Hashim Ismail, Governor of the Central Bank of Sana’a and Chairman of the Supreme Economic Committee. This interview took place after the press conference held by Hashim Ismail, on the occasion of the Central Bank in Aden’s printing of huge amounts of […]

High as Well as Low Interest are Both Haram!

Published by Ahmet SAPA

President Recep Tayyip Erdogan spoke at the admission of the DEIK Executive Board. While criticizing the high interest, Erdogan emphasized financial discipline. Erdogan stated that he knows how the banks exploit the business world and said “We almost pride ourselves on sinking many of our companies. Whether they listen to me or not, I’m against […]