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The Global Financial Crisis 2 min readViewed 1 time

8. Hizb Ut-tahrir


Hizb ut-Tahrir is a global Islamic political party that was established in 1953 under the leadership of its founder - the scholar, political thinker and judge in the Court of Appeals in al-Quds (Jerusalem), Taqiuddin an-Nabhani. Hizb ut-Tahrir global leadership is currently headed by Ata’ abu Rishta. In the Muslim world, Hizb ut-Tahrir works at all levels of society to bring the Muslims back to living an Islamic way of life under the shade of the Khilafah (Caliphate) State following an exclusively political method.

Hizb ut-Tahrir adopts the methodology employed by the Prophet Muhammad (peace be upon him) when he established the first Islamic State in Madinah. The Prophet Muhammad limited his struggle for the establishment of the Islamic State to intellectual and political work. He established this Islamic state without resorting to violence. He worked to mobilise public opinion in favour of Islam and endeavoured to sway the political and intellectual elites of the time. Despite the persecution and boycott of the Prophet Muhammad and the early Muslims, they never resorted to violence. The party is therefore proactive in disseminating the Islamic intellectual and political thoughts widely in Muslim societies so as to challenge the existing status quo that exists there. The party presents Islam as a comprehensive way of life that is capable of managing the affairs of state and society. The party also expresses its views on political events and analyses them from an Islamic perspective.

The party disseminates its thoughts through discussion with the masses, study circles, lectures, seminars, leaflet distribution, publishing books and magazines and via the Internet. We encourage people to attend our demonstrations, marches and vigils.

In the West, Hizb ut-Tahrir works to cultivate a Muslim community that lives by Islam in thought and deed, adhering to the rules of Islam and preserving a strong Islamic identity. The party does not work in the West to change the system of government. The party also works to project a positive image of Islam to Western society and engages in dialogue with Western thinkers, policymakers and academics. Western governments, under the banner of the War on Terror, are currently working to present Islam as an ‘evil ideology’. Indeed at the heart of this campaign is to malign the Islamic ideology as an alternative to Western liberal capitalism. Because of this propaganda aspect to the War on Terror, Hizb ut-Tahrir works to develop opinion about Islam in the Western countries, as a belief, ideology and alternative for the Muslim world.

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Chapters (31)
  1. 11. Introduction
  2. 21.1 Anatomy Of A Crisis
  3. 31.2 Diagnosis
  4. 42. What Went Wrong?
  5. 52.1 Gamblers Folly – Let Them Fail
  6. 62.2 Liquidity Crisis – The Banks Stopped Lending
  7. 72.3 The Domino Effect
  8. 83. Government Intervention: Superheroes To The Rescue
  9. 93.1 Bailouts
  10. 104. Capitalism’s Systemic Flaws
  11. 114.1 A Monetary Time Bomb
  12. 124.1 The Absurdity Of The Business Cycle: Boom And Bust
  13. 134.2 Doomed To Live In A Crisis Ridden World
  14. 144.3 Inherent Instability
  15. 154.4 Prosperous Or Preposterous System
  16. 164.5 An Interest-free Economy
  17. 174.6 Capitalism And Its Future
  18. 185. The Islamic Perspective
  19. 195.1 The Human Crisis
  20. 205.2 Credit Or Misery Creation
  21. 215.3 Gambling And The Legal Environment
  22. 225.4 A Market Free From Manipulation
  23. 235.5 Corporate Bias
  24. 245.6 Accounting For Success And Failure
  25. 255.7 Inflation Versus Gold/silver
  26. 266. Conclusions
  27. 277. Appendix
  28. 287.1 Collateralised Debt Obligations (cdo’s)
  29. 297.2 Credit Default Swap (cds)
  30. 307.3 Currency Swaps
  31. 318. Hizb Ut-tahrir