they be founded on the principles of justice, the public welfare, care for the poor, and the fair apportioning of the burden of public revenue among individuals according to their financial capacity, which comprises both income and wealth.

9 It is essential to employ every Sharīʿah-approved instrument of fiscal and monetary policy, together with persuasive measures and other economic and administrative policies, in order to free Muslim societies from the harms of inflation, with the aim of reducing the inflation rate to the lowest level possible.

10 Put in place the necessary safeguards to secure the independence of the central bank’s decision-making in managing monetary affairs, ensure its commitment to achieving monetary stability and combating inflation, and maintain continuous coordination between the central bank and the economic and fiscal authorities so as to realize economic development, achieve economic and monetary stability, and eliminate unemployment.

11 Review and scrutinize public projects and enterprises that have failed to achieve the intended economic viability; consider transferring them to the private sector and subjecting them to market forces in accordance with Islamic principles, for this enhances productive efficiency, lessens the fiscal burden on the budget, and thereby helps to ease inflation.

12 Call upon Muslims—individuals and governments alike—to adhere to Islamic law and its economic, educational, moral, and social principles.

Recommendation:
As for the proposed solutions to inflation, the Council resolved to defer them and present them at a forthcoming session. Allah, exalted is He, knows best.