Islamic Scientific Schools

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. The U.S.-Saudi petrodollar pact, established in the 1970s, has been a cornerstone of global economic and geopolitical stability for the past 50 years. Background The  U.S.-Saudi petrodollar pact , established in the 1970s, has been a cornerstone of global economic and geopolitical stability for the past 50 years. This arrangement, initiated by the Nixon administration and facilitated by Secretary of State Henry Kissinger, required Saudi Arabia to sell its oil exclusively in U.S. dollars. In return, the U.S. provided military protection and economic support to the Kingdom. This pact not only bolstered the U.S. dollar as the world’s primary reserve currency but also created a significant interdependence between the U.S. and Saudi Arabia. Significance of the Petrodollar System Strengthening the U.S. Dollar : The requirement for oil to be traded in U.S. dollars ensured a constant global demand for the currency, reinforcing ...

In the Name of Allah---the Most Beneficent, the Most Merciful. Introduction Istanbul Pride  is an annual  LGBTQ+ pride event  held in  Istanbul, Turkey . It began in  2003  and was the first Pride march in a Muslim-majority country. Initially, it was a relatively small event, but over the years, it grew significantly, attracting thousands of participants. 1. History of Istanbul Pride Istanbul Pride began in  2003  with a small group of activists marching in  Taksim Square , Istanbul’s central district. Over the years, it gained momentum, and by  2014 , it became one of the largest LGBTQ+ events in the Muslim world, attracting more than  100,000 participants . However, after the  2013 Gezi Park protests , the Turkish government began cracking down on large-scale demonstrations.  Since 2015, authorities have repeatedly banned Istanbul Pride, citing security concerns, public order, and religious sensitivities. 2. Government B...