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Syria: Two years, too long
Cancel Pakistan's Debt
IN DEPTH ANALYSIS /
Reproductive health
Since 2004, reproductive health has been recognised as a key area of work for Islamic Relief. As a humanitarian organisation committed to helping the world’s poorest people and to achieving sustainable economic development, it is essential that we tackle the need for suitable reproductive healthcare in the
communities where we work.
Islam and Debt
The ‘debt’ of the world’s poorest countries is currently estimated to stand at $2.7 trillion. Since 1996, the world’s 66 poorest countries have paid a total of over $230 billion to service their foreign debt - this amount far exceeds any aid they have received.Indeed, indebted countries are paying around $118 million
every day in interest and principal payments - although payments far greater than the original loan amount have already been made. Debt is one of the principal causes of poverty; it has hampered the economic development of indebted countries and prevented them from investing in essential services such as healthcare and education. Are there any additional insights that can be gained through analysing the debt crisis from an Islamic perspective? Are there any specific Islamic teachings and guidance that Muslims can refer to when considering solutions? This paper examines Islamic teachings on debt and, with references from the Qur’an and ahadith, argues that for Muslims there are indeed strong and clear faith-based reasons for advocating debt cancellation.