Majority of scholars hold a view that a currency‟s permissibility is not invalidated if its value diminishes. This perspective is founded on the premise that conventional forms of currency are also subject to fluctuations in value. Financial securities like Halal stocks also go through swings in prices due to market and economic factors.
The report identifies the six inter-related mega trends to impact OIC nations as: Uneven Macroeconomic Performance, Sharing and Platform Economies, Green Economy, Urbanization, Global Supply Chains and Future of Work. The first two look at shifting economies, which are playing out across OIC societies. The next two cover changing environments brought on by climate change and growing populations. The last two consider adapting ecosystems.
Trade was liked by the Prophet صلى الله عليه وسلم, because it was a means of livelihood based on morality and honesty. He صلى الله عليه وسلم himself was famous in trade and Hazrat Uthman Ghani and Hazrat Abd al-Rahman bin Awf among the Companions (may Allah be pleased with them) were known as useful traders. Hazrat Abd al-Rahman bin Awf remained engaged in trade even after his migration to Medina and achieved great commercial success with his God-given abilities. Hazrat Uthman‟s trading business was so large that his income made him a model of great generosity and he spent his wealth for society.
Approximately 1.3 billion tons of Municipal Solid Waste (MSW) are generated globally every year and are expected to increase to approximately 2.2 billion tons per year by 2025. In fact, the amount of waste produced per person per day also depends on the economic status of the community concerned. The rates of MSW growth are fastest in Arabian countries and the Middle East.
Authors argue that Turkiye lacks the efficiency, proper planning, and adequate law related to e-waste management. The legal regulations related to WEEE management are stale and undeveloped while recycling in Turkiye is underdeveloped.
This short book discusses an important issue of ownership in Zakat transfer. In traditional scholarship, it is considered a necessary condition that ownership per se must be transferred from the Zakat payer to the Zakat receiver for Zakat to be considered as paid. The argument for this viewpoint is that alphabet ‘Laam’ comes before the name of the recipient and one implication of this use of ‘Laam’ is ownership.
The global environment for international investment will remain challenging in 2024. Weakening growth prospects, economic fracturing trends, trade, geopolitical tensions, industrial policies, and supply chain diversification are reshaping FDI patterns, causing some multinational enterprises (MNEs) to adopt a cautious approach to overseas expansion. However, MNE profit levels remain high, financing conditions are easing, and increased Greenfield project announcements will positively affect FDI.
If we delve deeper to find distinction between the laws of nature and miracles, then actually there is only one difference. The events in natural law happen regularly and the events in miracles happen sometimes. There is not much difference in the actual reality of the events in both of them, but there is a difference in the number of occurrences.
According to the World Health Organization, air pollution is now the world’s largest single environmental health risk. Air pollution is responsible for approximately 3.7 million deaths a year. Going forward, cities will generate approximately 2.2 billion tones of solid waste per year by 2025 which could poison soil and waterways, kill plants, and harm humans and animals.
Globally, among the 2,957 sustainability reports subject to an independent assurance, 1,668 (56%) were partially or fully verified under limited assurance, while 405 (14%) were partially or fully verified under reasonable assurance. Globally, 70% of the companies by market capitalization disclosed a GHG emission reduction target and nearly half of them set 2030 as the target year.
Islamic Economics Project 