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Islamic Economics and Economics as a System of Power

The paper begins by addressing the post-colonial emergence of Islamic economics, which sought to establish an independent discourse based on interest-free commerce, moral behavioral norms eschewing self-interest, and the pursuit of social justice. Despite these ideal goals, the field has faced severe criticisms from scholars such as Prof. Timur Kuran, Prof. Akram Khan, and Prof. Syed Tahir for failing to develop a unique value set, an original methodology, or the analytical power necessary to solve modern economic problems.

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Islamization of Human Sciences

The primary goal of the book is to provide a conceptual framework and work-plan for the Islamization of Knowledge (IOK) specifically within the human sciences. It addresses the educational dilemma faced by Muslims due to the prevalence of secular Western models of thought, aiming to produce a re-integration of Islamic perspectives across all academic disciplines. The book is structured into several chapters that analyse both general theories of knowledge and specific applications in social sciences.

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Highlights of World Inequality Report 2026

The number of billionaires has surpassed 3,000, with Elon Musk becoming the first person to hold over half a trillion dollars in wealth. However, this extreme wealth concentration is happening amidst widespread hunger, with one in four people globally facing food insecurity. The issue isn’t just the lavish spending of billionaires, but how they use their wealth to influence politics, governments, and media, undermining democracy and fairness. As US Supreme Court Justice Louis Brandeis said, ‘We must make our choice. Either we can have extreme wealth in the hands of the few, or we can have democracy. We cannot have both’. This report is about that choice.

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The Erosion of Value: A Macroeconomic Analysis of Inflation

Modern economies operate on fiat currency, which is legal tender not backed by a physical commodity like gold or silver but by the government that issued it. Because fiat money lacks intrinsic value, its primary distinction is not stability, but the varying velocity of its depreciation. To gain an objective understanding of value, economists often look to hard assets or a basket of goods (a representative sampling of consumer products).

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Fasting in Ramadan and UN Sustainable Development Goals

Fasting in the month of Ramadan compels all individuals to practice self-restraint and control consistently for the entire month. It has the potential to share the emotional and physiological reality of what is it like to be not eating food. It builds thankfulness that at least by sunset, one can break the fast. But, it also compels one to think that what if one is hungry and not able to eat because of lack of affordability. This experience has the potential for bringing greater commitment in a person to share and to avoid waste. In the sayings of Prophet Muhammad (pbuh), it is encouraged to facilitate people in breaking the fast. The spirit of sharing the food is a trait to be practiced year-round.

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Highlights of Al-Baraka Forum 2026

The AlBaraka Forum held the 6th AlBaraka Forum Regional Conference on 19 & 20 January 2026 at the Pearl Continental Hotel, Karachi, under the theme “Islamic Economy in the Digital Age: Innovation within the Framework of Compliance”. On this occasion, H.E. Mr. Yousef Hassan Khalawi, Secretary General of AlBaraka Forum for Islamic Economy, assured that Islamic finance now has the potential to be on the same stage as conventional banking, as both enter the digital age at the same moment, asking the question: “Will we follow the same trend for the last fifty years? No. From today, by entering this age, either you choose to be innovative, or again, you will be number two, always like before.”

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Breaking Bad: How Health Shocks Prompt Crime

The study identifies two primary economic mechanisms: a loss of human capital leading to illegal revenue seeking and a decrease in survival probability which reduces the perceived long-term cost of punishment. While the paper is technically robust within its econometric framework, it operates within a strictly secular, rational-choice paradigm that fails to account for the metaphysical and moral dimensions of human behaviour during crisis.

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Iqtisaduna (Our economics)

The book begins with an incisive academic criticism of dialectical materialism, the philosophical backbone of Marxist thought. Al-Sadr argues that history is an incredibly complex phenomenon that cannot be reduced to a single driving force, such as the economic factor or the means of production. He asserts that various other elements, including religious convictions, political structures, and social dynamics, play primary and often independent roles in shaping human destiny. He challenges the foundational logic of materialism by pointing out that it cannot explain the “first push” of the universe or human development without acknowledging a non-material or Divine cause. For al-Sadr, the materialist view is a narrow lens that fails to capture the multidimensional nature of human existence.

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Highlights of Resisting the Rule of the Rich Report by Oxfam

The number of billionaires has surpassed 3,000, with their wealth reaching a record $18.3 trillion in November 2025, an 81% increase since March 2020. This concentration of wealth is exacerbating global inequality, with the 10 richest billionaires holding over $2.4 trillion. The super-rich are profiting from crises like trade tensions, wars, and climate change, while over 2 billion people face food insecurity. The richest 1% own 43.8% of global wealth, while the poorest half hold just 0.52%. This inequality is undermining democracy and perpetuating poverty.

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Money and Inflation

We often hear the term ‘inflation’ to describe a general increase in prices, this rise is typically caused by one of two factors. First, it can occur due to a change in the purchasing power of what the money symbolizes, often triggered by a deliberate reduction in the quantity of wealth it represents. This is the essence of monetary manipulation. Second, prices may rise due to a fall in purchasing power without any change in the quantity of the money itself. For instance, if gold becomes naturally cheaper because of a new supply, an Islamic Dinar made of 4.25 grams of gold will naturally buy less.

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