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 Capitalist system which is dominant the world over today although paying lip service to caring about the environment in reality focuses on maximizing production and enriching the elite at any cost. This is because the innate characteristic of Capitalism is defined by the notion that human beings have “unlimited wants in a world with […]
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 […]
In the winter of October 2021, the Pandora Papers were revealed to the world. This was a leak of almost 12 million documents that reveal how the world’s richest people siphon off wealth (often obtained illegally) and hide it in various ways. Some of the questionable tactics include tax avoidance and money laundering with collaboration […]
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 […]
With a spontaneous outpouring of heartfelt condolences, Muslims around the world are grieving since Dr. Abdul Qadeer Khan, the founder of Pakistan’s military nuclear program, passed on to the Mercy of His Lord (swt) on 10 October 2021. Allah (swt) said, إِنَّا لِلَّهِ وَإِنَّا إِلَيْهِ رَاجِعُونَ “Indeed we belong to Allah, and indeed to Him […]
A bill to shift blame for the US defeat in Afghanistan onto Pakistan, moved by 22 US senators on 27 September, has raised both alarm and panic amongst Pakistan’s policy makers. The Afghanistan Counterterrorism, Oversight and Accountability Act is ostensibly to determine the causes behind US defeat, however, in reality, it is to place and […]
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 […]
Headlines: Turkey Extols Booming Defence Industry at International Arms Fair Afghanistan Faces Dire Financial Outlook, Warns Former Central Bank Chief Greatest Foreign Policy Humiliation: Trump Turkey Extols Booming Defence Industry at International Arms Fair The TF aircraft being developed by Turkish Aerospace is arguably the jewel in the crown of an industry that is widely […]
In light of international and regional interventions to influence the Tunisian political scene, especially after the decisions of 25th July 2021, President Kais Saied reiterated his independence at the Carthage Palace on Thursday, 19th August 2021, saying, “These people who talk about the decisions I take based on illusory balances in their heads because they […]
Prime Minister Imran Khan on Monday, 16 August 2021, launched the Single National Curriculum at a ceremony in Islamabad. He spoke about how cultural imposition is tantamount to ‘mental slavery,’ saying that Afghans had “broken the shackles of slavery.” His comments came as the Taliban effectively took control of Afghanistan, after days of rapid advances […]
On August 12, 2021, Bangladesh’s Parliamentary Standing Committee on Foreign Affairs Ministry has announced that Sheikh Hasina has approved a policy of not allowing to improve the living standards of the Rohingya refugee camps, let alone having the refuges integrated into Bangladesh following the requests from World Bank (WB) and other relevant UN agencies (The […]
Question: Assalamu Alaikum wa Rahmatullahi wa Barakatuh, Are Islamic banks working according to Islamic law in Tulkarm and the governorates of the West Bank? Is it permissible to deposit money in them, or are they just names to cover the usurious business? How do we make sure of that? From: Abdul Kareem Zaid
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 […]
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 […]
In a step that is not new, the World Bank announced on 07/01/2021 its approval to provide an additional grant to the Salvation Government in Sana’a, which was amounting to 150 million dollars – according to what was reported by Mareb Press – within the framework of grants provided by the World Bank throughout the […]
Hizb ut Tahrir / Kenya is officially launching an economic campaign that will run for one month. The campaign will commence on first of the sacred month of Dhul Hijjah 1442 AH corresponding to 11th July 2021 until August 11, 2021 CE.
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 […]
As we entered 2021, there were 82.4 million people around the world displaced by conflict or persecution. Thirty million of those are refugees, the rest are displaced within their own country (48 million) or asylum-seekers (4.1 million), according to UNHCR’s latest report. Nearly half of these forcibly displaced people are children. [Al Jazeera, 20 Jun […]
Hizb ut Tahrir / Wilayah Pakistan organized a massive campaign on (social) media sites entitled, “Khilafah will Liberate Pakistan from the Destructive Policies of the IMF” in response to the budget presented by the rulers of Pakistan. A Twitter Storm took place to expose the harmful policies that are dictated by the IMF. These policies […]
A hundred years ago, the West imagined that they had finally defeated Islam by bringing an end to the Khilafah (Caliphate) State that had continued uninterrupted from the time of the Prophet (saw). In the decades that followed, the West cemented their victory over Muslims, implementing Western systems of government, enforcing the European Westphalian nation-state […]
On Thursday, 24/6/2021, Al-Thawra Daily Newspaper in Sana’a published a press conference held by the Governor of the Central Bank in Sana’a, Hashim Ismail Ali, on Wednesday 23/6/2021. The governor of the bank complained that the central bank in Aden had printed a new local currency, the Riyal, amounting to one trillion Riyals, bringing the […]
A continuation of the public events held by Hizb ut Tahrir / Wilayah Sudan in the various regions and districts of the country to create an aware public opinion of the provisions of Islam and its solutions related to the miserable conditions and the difficult living conditions that people suffer from as a result of […]
With the absence of authority in all its names; the presidency, the government and the representatives, from the conditions of the people, and their failure to perform their duties, the price of gasoline rises from about 20,000 Lebanese pounds to exceed 44,000 pounds per tank, and the diesel fuel tank rises from 16,000 pounds, to […]
After a few days of commotion, which was denounced by the mouthpieces of the Pakistan’s rulers as a disrespect of democracy, an orderly series of speeches by the government and the opposition resumed, during the budgetary session of parliament. However, whether there is commotion or calm in the National Assembly, the current budget is nothing […]
The Ministry of Energy has announced the development of a three-phase project for the transition to the competitive wholesale electricity market for the period 2021-2025 with the handover of the sale of electric power to private companies.
On June 6, 2021 East African Finance ministers tabled their national budgets in their parliaments for the fiscal year 2021/22. In Tanzania’s context, the government plans to collect and spend a total of Tsh36.32 trillion ($15.59 billion), as its budget was tabled by the new Minister of Finance and Planning, Dr Mwigulu Nchemba.
