In a groundbreaking development, Russia and Iran have officially severed ties with the SWIFT system, marking a pivotal departure from the Western-dominated transaction framework. Mohsen Karimi, Deputy Head of the Central Bank of Iran (CBI), made this announcement, revealing that both nations have embraced a direct interbank transfer mechanism. During an interview on Iranian […]
Islamic Emirate of Afghanistan Announces Abolishment of Usury Systems
Introduction: In a significant development under the governance of the Islamic Emirate of Afghanistan, Acting Minister of Industry and Trade, Nooruddin Azizi, declared the abolition of all usury systems in the country. This announcement reflects the commitment of the Islamic Emirate to uphold the principles of the Islamic system through lawful and ethical means. […]
BRICS: China Aggressively Dumps US Dollars For 3 Days Straight
In a bold move that has sent shockwaves through global financial markets, China, a key member of the BRICS alliance, has reportedly engaged in an unprecedented three-day streak of aggressively divesting itself of US dollars. This strategic maneuver by the world’s second-largest economy has raised eyebrows and prompted speculation about its implications for the international […]
India’s Veiled Opposition to Pakistan’s BRICS Inclusion: A Potential Veto Looms
In the intricate landscape of international relations, regional dynamics often shape the trajectory of global partnerships. A recent development has brought to light India’s reservations regarding Pakistan’s prospective inclusion in the BRICS (Brazil, Russia, India, China, and South Africa) alliance. This subtle yet significant hint at contention raises questions about the future of diplomatic cooperation […]
(Well, ) what do you know? Unlocking Palestine’s Untapped Energy Wealth
A Path to Socioeconomic Progress and Regional Cooperation Introduction: In the heart of the occupied Palestinian territory (oPt), beneath the surface of Area C in the West Bank and the Mediterranean coast off the Gaza Strip, lie vast and untapped reserves of oil and natural gas. These resources, recently brought to light by geologists and […]
“Read all about it!” BRICS Launches BRICS Pay System: A Bold Move to Challenge the US Dollar Dominance
In a significant move aimed at reshaping the global financial landscape, the member countries of BRICS – Brazil, Russia, India, China, and South Africa – have announced the launch of the BRICS Pay system. This strategic initiative seeks to challenge the long-standing dominance of the US dollar in international trade and finance. As these emerging […]
Malaysia’s Prime Minister’s Ambitious Gold Dinar- Sunnah Currency Initiative
Empowering Islamic Economies: Malaysia’s Ambitious Gold Dinar Initiative In a groundbreaking endeavor, Malaysian Prime Minister Anwar Ibrahim has embarked on a mission to resurrect the Gold Dinar, a move aimed at rekindling the economic glory of Islamic civilizations. This visionary initiative holds profound implications for the global financial landscape, emphasizing stability, ethical financial practices, and […]
Bold Move: BRICS Leading Oil Company Ditches US Dollar, Embraces Local Currencies
In a strategic maneuver that has sent ripples across the global financial landscape, Gazprom Neft, Russia’s third-largest oil exporter, has taken a significant step toward reshaping international trade dynamics. The company, a leading entity within the BRICS consortium (Brazil, Russia, India, China, and South Africa), has boldly declared its departure from the reliance on […]
Japan’s Monumental Decision to Sell-Off $900 Billion Worth of U.S. Bonds: The trigger for Economic Crisis?
In the intricate web of global finance, every move by major economies can send ripples across international markets. Japan’s recent decision to embark on a massive sell-off of U.S. bonds, amounting to a staggering $900 billion, has sparked concerns and debates within the economic community. The question looming large: Could this substantial divestment trigger […]
Isn’t It Ironic? Iraq’s Journey to De-Dollarise by 31st December 2023.
In a twist of fate that could be considered ironic by many, Iraq, a nation whose recent history has been intertwined with the U.S. dollar, is set to embark on a transformative journey to de-dollarise its economy by December 31, 2023. This bold move, laden with historical significance, raises eyebrows and sparks conversations about […]