The economic consequences of Riba and the possible solutions Financial essay
The potential collapse or instability of Pakistan's economy could have significant consequences for neighboring countries and the global community. Solutions to the crisis. To address Pakistan's economic crisis, the government and the international community must act urgently and comprehensively. The following are some possible ones, thus implying the admissibility of interest in financial transactions. The ban on Riba, from the perspective of maqashid syariah, is based on moral considerations and humanity. It's because. KPMG stated that the unemployment rate in Nigeria has increased. 7 The ongoing economic recession, slow economic growth, corruption and population growth are some of the reasons why there are insufficient jobs in Nigeria and globally. Unemployment is causing many problems, including higher crime rates, suicides, and the onset of the mortgage crisis. According to 'Panic: The Untold Story of Financial Crisis', the crisis was caused by unconscious mortgage lending. This in turn facilitated the creation of the housing bubble that eventually burst, causing the Wall Street crisis that grew. Environmental sustainability. Economic growth means an increase in real GDP. Therefore, there is a good chance that we will face environmental costs with increased production and consumption; The greenwashing phenomenon, which implies the misalignment between environmental data disclosure and performance, has received significant scholarly attention. We review the diverse literature on corporate greenwashing to develop an integrative framework that examines its antecedents and consequences from a corporate perspective. The title of my talk today is 'Global Economic Challenges and Global Solutions'. But before we talk about solutions, we need to be clear about the problems. I would like to isolate three separate, albeit related, issues: balance sheet pressures that undermine growth, instability at the core of the global economic system, and social tensions. This article discusses the impact of the rapid adoption of artificial intelligence, AI and machine learning ML in the financial sector. . It highlights the benefits that these technologies bring in terms of financial deepening and efficiency, while raising concerns about their potential in widening the digital divide between advanced and developing countries.,