Islamic Scientific Schools

In the Name of Allah---the Most Beneficent, the Most Merciful. Here, we explore the key principles and features of the Islamic trading system that contribute to its unparalleled and well-balanced nature. Islam is often described as a complete code of life, providing guidance for all aspects of human existence. Among these, economics stands out as a crucial domain, deeply impacting individual and societal well-being. The economic system prescribed by Islam is both profound and balanced, aiming to ensure justice, equity, and fairness for all. Here, we explore the key principles and features of the Islamic trading system that contribute to its unparalleled and well-balanced nature. 1. Islam versus Capitalism Capitalism has encompassed the majority of human beings today. It gives free hand to the capitalists to exploit the natural and human resources for their own interests. The majority of humans are like toys in their hands and they are free to grab the money by hook or crook. The wo...

In the Name of Allah---the Most Beneficent, the Most Merciful. Global inflation refers to a sustained increase in the general price level of goods and services in an economy over a period of time. Introduction Global inflation refers to a sustained increase in the general price level of goods and services in an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power of money. In this short essay, we shall observe the major causes of global inflation right now. Current Situation of the Global Inflation According to the  International Monetary Fund  (IMF) global inflation was forecast to rise from 4.7 percent in 2021 to 8.8 percent in 2022 but to decline to 6.5 percent in 2023 and to 4.1 percent by 2024. The World Economic Outlook Update will be released in Singapore at 9:30 am on January 31, 2023 (January 30 at 8:30 pm Washington D.C. time). ...

In the Name of Allah---the Most Beneficent, the Most Merciful. Measuring the economic growth rate of a country involves several key indicators and methodologies. The most common measure is the growth rate of Gross Domestic Product (GDP). Here’s a detailed look at how it’s done and which indices matter the most: 1.  Gross Domestic Product (GDP) GDP  is the total value of all goods and services produced over a specific time period within a country. It is typically measured on an annual basis but can also be calculated quarterly. Real GDP : Adjusted for inflation, providing a more accurate reflection of an economy’s size and how it’s growing over time. Nominal GDP : Measured at current market prices, not adjusted for inflation. 2.  Gross National Product (GNP) GNP  includes GDP plus any income earned by residents from overseas investments, minus income earned within the domestic economy by foreign residents. It accounts for the total economic output of a country’s resid...

In the Name of Allah---the Most Beneficent, the Most Merciful. China-Pakistan Economic Corridor (CPEC) is a collection of infrastructure projects that are currently under construction throughout Pakistan. China-Pakistan Economic Corridor (CPEC)  is a collection of infrastructure projects that are currently under construction throughout Pakistan. The aim of CPEC is to rapidly modernize Pakistan’s infrastructure and strengthen its economy by the construction of modern transportation networks, numerous energy projects, and special economic zones (SEZs). Here’s a detailed  SWOT analysis  of CPEC: Strengths: Infrastructure Development Investment in Roads : Highways and Expressways : CPEC includes the construction and expansion of highways and expressways, such as the Karachi-Lahore Motorway (KLM) and the Hazara Motorway. These roads improve connectivity between major cities, facilitating smoother and faster transportation of goods and people. Upgradation of Existing Roads : Ma...