In his essay ‘The Economic Possibilities for our Grandchildren’ Keynes envisaged a future that would afford people the possibility to ‘live wisely and agreeably and well.’ At this stage, he wrote ‘I s...
Some people argue that only usury (interest at such an exorbitant rate that it exploits the debtor) has been declared unlawful by Islam. Therefore, interest at a mutually acceptable rate can be charge...
Ribā, or interest, is sometimes confused with rent, whereas the two are quite different from each other. Rent is a payment made periodically for the use (not consumption) of an asset, for example for...
The Qur’ān says: ... that whoever took a life 1 , unless it be for murder or for spreading disorder on earth 2 , it would be as if he killed all mankind; and whoever saved a life, it would be as if he...
Quis Custodiet Ipsos Custodes? 1 For as long as the political process has trudged along after the last martial law, political leaders have been falling out over who has done more for the country. Yet,...
Here’s the smell of blood still; all the perfumes of Arabia will not sweeten this little hand. But many of the human rights activists in Pakistan will. So long as the hand is not masculine. We have al...
In the wake of a recent court decision 1 , The issue of Walī’s 2 consent in marriage has become a vexed question. Some important aspects of the issue are discussed here. 3 1. ‘No Nikāh [marriage] with...
[Lord! Give me faith, which gives a man...] The strength to be weak -- [for thine sake] to see himself -- his weakness and to accept it -- in front of everyone The strength to change, to move on -- ag...
Prominent Muslim scholars have always maintained that jihād is allowed only under the authority of the State: And the third category of collective duties is one in which [the authority of] the State i...
Love, Is it an investment On which a handsome interest is earned? Does the hand that rocks the cradle Seek it too? That the return be turned Into a golden crown And worn over a head Always held high W...
Most of economics is simple common sense made difficult. Why? Because common sense entails real, concrete changes to solve lingering problems -- changes our kings and queen(s) are seldom willing to ma...
The face was red with flushing blood as he tried to stop his breath for as long as he could. The eyes bulged out, though staring at nothing. Small rivulets of perspiration shone on the forehead, and t...
Ever since the question of developing an Islamic economic system was raised, the problem of evolving a system of banking based on Islamic principles has remained an important issue. One of the major p...
‘The time has come’ the Warlus said ‘to talk of many things: of shoes -- and ships -- and sealing wax -- of cabbages -- and kings --’ (Lewis Carroll) There are two ways of reducing the gap between rev...
Quid Rides? 1 A strong relationship is based on love. And there are many who say ‘I love you’, but few who live up to it. Without loyalty love is mere infatuation -- at best ‘humour’, which fails to s...
The Quran is a book 1 It is not a collection of different, structurally unrelated sayings. The arrangement of the verses of the Quran, though not chronological, is Divinely ordained 2 Therefore, a Mus...
Some people argue that only usury (interest at such an exorbitant rate that it exploits the debtor) has been declared unlawful by Islam. Therefore, normal interest at a mutually acceptable rate can be...
In Islam a man can revoke the divorce he gives to his wife within the period of ‘idah’ 1 . After the expiry of the period of ‘idah, the divorce is finalised and the husband and wife stand separated as...
Traditionally Pakistan has been a high growth (averaging 5.6 percent) and low inflation country. With a population growth rate exceeding three percent, per capita growth has been satisfactory in the p...
`All men are equal'. There is no doubt whatever about that. But I am sorry I must change this one slightly before those nice ladies from APWA sue me for discriminating women. So let's begin again: `Al...
