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Amendment in FATF Recommendation 23

Huzaima Bukhari, Dr. Ikramul Haq & Abdul Rauf Shakoori Recommendation 18 of the Financial Action Task Force (FATF) requires that financial institutions should implement programmes against money laundering and terrorist financing and that financial groups should implement group-wide programmes against…

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Critique of extractive capitalism—II Surplus, wealth circulation & human development

  Dr. Ikramul Haq Modern economic systems continue to operate on a foundational assumption: accumulation drives growth. Wealth concentration is often portrayed as a necessary by-product of innovation, efficiency and productivity. Nevertheless, contemporary evidence increasingly suggests that excessive accumulation (extreme…

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Critique of extractive capitalism—I Growth, inequality & insecurity

    Dr. Ikramul Haq   Modern capitalism has become extractive, concentrating wealth and generating insecurity. Traditional socialism also failed to protect individual autonomy. A humanistic economic framework is needed—one that promotes cooperation, economic security and development of human potential….

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