Eco Scholar

 What is FATF and how does it add countries to the grey and black list? What about Pakistan? what is FATF The Financial Action Task Force is a decision-making institution. It deals with the issues of money laundering and virtual currencies. This body aimed to give protection to the security of the financial system at the international level. For this, it's one role is the war against terror financing. Greylisting is not as harmful to a country as much blacklist. FATF can influence economic activities by scrutinizing and keeping eye on their international level transections. So it can say that the blacklist is the "call for action" and the grey list is "monitoring by FATF". So it will decrease trade opportunities and has the disadvantage of a closed economy. The war against terror financing FATF is against the support of terrorists by money. For this reason in 2019, it blacklisted two countries Iran and North Korea. Twenty-three countries are on the grey list. Pa...

  Economic reforms of Hazrat Umar Farooq R.A are the need of time for developing countries like Pakistan   Who is ''Farooq The Great'' Hazrat Umar R.A is the second caliph of Islam from 634 to 644 AC and a great administrator.  Gandhi said about him that he was a leader of a vast empire(Arabian Peninsula) but lived simple life to cut the public expenditures by adopting a simple lifestyle. He was the influential king who trigger the economic revelation in Arabia and was worthy of the following but unfortunately, he is ignored by the intellectuals of the world. so it is the need of time for poor developing countries to follow his reforms to overcome the challenges which are faced by them.   Islam and welfare economics   It is not an exaggeration to say that Islamic teachings paved the way for welfare economics and introduced great reforms which are applicable to the present and future. Islam forced the state to give all basic rights and to provide basic needs to t...

Regime change in Pakistan 2022 and its effect on debt and inflation Pakistan and Political Turmoil  Pakistan has been facing the problem of political turmoil for the last few months.  On 10 April Imran Khan became one of the Prime ministers of Pakistan who were unsuccessful to complete their five years.   The sudden change of the prime minister Imran Khan leads the economy towards many economical challenges like uncertainty for investors like China and Russia. The new government has to face economical challenges.  Problem of inflation The new prime minister of Pakistan Shehbaz Sharif failed to run the government as well as Imran Kahan was working. The growth rate coming down like 4 % and the dollar rate is also out of control. The inflation is increasing day by day and the petrol prices are going up in alarming increase. The common man' purchasing power has been decreasing.  The double-digit inflation food inflation, unemployment, and balance of payment dil...