بسم الله الرحمن الرحيم Answer to QuestionRuling on Financial and Commercial Transactions Over the InternetTo Saed Khatib(Translated) Question: Assalamu alaikum wa Rahmatullah wa Barakatahu, What is the ruling on trading, for example, buying a dinar, oil, gold, etc. with dollars at a time of cheapness, then selling it at a time of high prices to … Continue reading Q&A: Ruling on Financial and Commercial Transactions Over the Internet
Category: Economics
Pakistan’s Revenue and Expenditure under the Khilafah
بسم الله الرحمن الرحيم Pakistan’s Revenue and Expenditure under the Khilafah Pakistan’s Current System Secures the Economic Interests of the Kafir Colonialists Sufficient revenues in the state treasury are essential for looking after the affairs of the people and managing the state expenses, such as the armed forces, health and education. However, in Pakistan's current … Continue reading Pakistan’s Revenue and Expenditure under the Khilafah
How the Khilafah will Lift the Tax Burden from the People
In order to run the affairs of the state and the people every state needs funds. Under capitalism these funds are mainly raised through interests and direct and indirect taxes. Also in Islam, the State has to finance its affairs and responsibilities from the State Treasury, the Bayt al-Mal (Bait ul-Mal) In order for the … Continue reading How the Khilafah will Lift the Tax Burden from the People
Q&A: Is it permissible for the Khalifah to impose taxes on Muslims?
We present here an answer from the Hizb’s Ameer, Sheikh Ata Abu Al Rashta, on the question of taxation under the Islamic system of governance. Question: As-Salaamu Alaikum Wa Rahmatullah Wa Barakaatuhu, May Allah allow you to persevere. I have a question that I hope that you can answer. It is known that “taxes” are Muharramah (prohibited) … Continue reading Q&A: Is it permissible for the Khalifah to impose taxes on Muslims?
Q&A: The Budget in the Khilafah State
بسم الله الرحمن الرحيمThe Answer to the Question:The Budget in the Khilafah StateTo: Tahsin Hasan Hadyah (Translated) Question: Bismillah Ar-Rahman Ar-Raheem… As-Salaam Alaikum Wa Rahmatullah Wa Barakaatuhu Please explain the meaning of what is mentioned below: In the book The Economic System in Islam, it mentions the following statement regarding the State budget: “As for … Continue reading Q&A: The Budget in the Khilafah State
Taxation in Islam: Wealth Tax
The following article is based on the book Funds in the Khilafah State which is a translation of Al-Amwal fi Dowlat Al-Khilafah by Abdul-Qadeem Zalloom. Allah (swt) has revealed a comprehensive economic system that details all aspects of economic life including government revenues and taxation. In origin, the permanent sources of revenue for the Bait … Continue reading Taxation in Islam: Wealth Tax