19 episodes

This Podcast will examine ideas that impact our economy and financial system on the basis of values and ethical principles.

Host: Almir Colan
http://islamicfinancepodcast.com

Islamic Finance Podcast with Almir Colan Almir Colan

    • Islam

This Podcast will examine ideas that impact our economy and financial system on the basis of values and ethical principles.

Host: Almir Colan
http://islamicfinancepodcast.com

    2.12 Ribawi Transactions, Part 1 - Student loans

    2.12 Ribawi Transactions, Part 1 - Student loans

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    In this episode:
    We take a deeper look at ribawi transactions. In particular, we analyse the "Student loan" to see if it is ribawi or not.
    In recent times we have seen several opinions about student loans so this is an opportunity to learn how to break down any contract to its most simple form. 
    By reducing this transaction to its most simple form we are able to establish the most fundamental truth about the substance of what seems like a complex or innovative new way of contracting. In the most simple forms, all contracts will have something in common. It is at this level that we look if rules or riba apply or not. Looking at the transaction from any higher place brings a level of abstraction that clouds the reality.
    What is Ribawi transaction? 
    Ribawi transaction is an exchange of specific items that are subject to the rules of riba. Violating these rules leads to an unlawful gain which is called riba. The common denominator in these transactions is, for instance, an unequal exchange of money-for-money on the spot or as a deferred payment basis. 
    Exchanging $100 on the spot for $120 in the future is an example of such an impermissible transaction due to the unlawful gain.
    The basis of these prohibitions is that the Messenger of Allah (ﷺ) said:
    'Gold for gold, weight for weight, like for like; and silver for silver, weight for weight, like for like. Whoever gives more or takes more has engaged in Riba." (Sunan an-Nasa'i 4569)
    “Do not sell gold for gold, except like for like, and don't increase something of it upon something;” (Sahih Muslim 1584a) 
    "The bartering of gold for gold is Riba (usury), except if it is from hand to hand and equal in amount, …” (Al-Bukhari 2134)

    Podcast Hosted by Almir Colan.
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    Web: www.islamicfinancepodcast.com
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    • 34 min
    2.11 Freedom of contract, Part 2 - Big Tech censorship

    2.11 Freedom of contract, Part 2 - Big Tech censorship

    Big Tech refers to the major technology companies which have inordinate influence. (PCMag)

    In this episode, we talk about recent political events with regards to Big Tech as they relate to censorship, freedom of speech and consolidation of power.

    We also reflect on some lessons from the past year and trends with this podcast.

    Don’t forget to rate our podcast *5 stars* wherever you listen to us!
    Podcast Hosted by Almir Colan.
    Connect with us:
    Be part of the conversation and keep in touch with us to find out about new episodes and other content.
    Web: www.islamicfinancepodcast.com
    Social media:
    - YouTube
    - Facebook (public page)
    - Facebook (group)
    - Twitter
    - Instagram
    ----
    Read Disclaimer here.

    • 29 min
    Just for fun: Interview with My 12-Year-Old Son!

    Just for fun: Interview with My 12-Year-Old Son!

    Do not take this too seriously :)
    We will resume our regular podcast next week insha'Allah.
    Podcast Hosted by Almir Colan.
     
    Connect with us:
    Be part of the conversation and keep in touch with us to find out about new episodes and other content.
    Web: www.islamicfinancepodcast.com
    Social media:
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    ----
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    • 13 min
    2.10 Freedom of contract, Part 1 (minimum wage)

    2.10 Freedom of contract, Part 1 (minimum wage)

    In this episode, we talk about freedom to enter into the contract and how Islamic law might deal with the question of a minimum wage.
     
    Podcast Hosted by Almir Colan.
    Connect with us:
    Be part of the conversation and keep in touch with us to find out about new episodes and other content.
    Web: www.islamicfinancepodcast.com
    Social media:
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    ----
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    • 38 min
    2.9 Islamic FinTech challenge

    2.9 Islamic FinTech challenge

    In this episode, we talk about the intersection between technology and finance and what opportunities or challenges it creates for the Islamic fintech industry.
    This year we have seen a strong rise in stocks for companies such as Zoom, Tesla and Amazon. With their tech-centric solutions, Amazon is redefining commerce, Zoom is changing the way we work, and Tesla’s software car is disrupting the automotive industry.
    The finance world is not far behind with Apple issuing their own credit cards and Facebook looking to start their own digital currency.
    In Australia, “buy now, pay later” firms like Afterpay and ZIPpay have benefited as the demand for debt financing increases during the economic slowdown.
    The challenge for Islamic firms is to reinvent their business model away from simply commercialising loans. This is because the nature of Islamic finance differs significantly from the conventional one.
    Profit that comes from money-for-money exchange represents illegitimate gain or riba. For Islamic FinTech platforms this means that profit must come from the underlying income generating assets or activities such as equity finance or company dividends. If FinTech platforms have a higher aspiration, they could for instance seek ways to connect more directly into manufacturing and production that grow the economy and creates jobs.
    In the years ahead, we could perhaps see more start-ups move towards mobile payment solutions just as we see with Alipay and WeChat that are now estimated to be taking almost half of the banking payment fees in China.
    At the end, customers will only use technology that serves their needs best. FinTech alone is not a competitive advantage any longer – instead products and services built on trust with a legal and regulatory environment at its core will win the day.
    Podcast Hosted by Almir Colan.
    Connect with us:
    Be part of the conversation and keep in touch with us to find out about new episodes and other content.
    Web: www.islamicfinancepodcast.com
    Social media:
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    - Facebook (group)
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    ----
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    • 18 min
    2.8 A Discussion about Paper Money: Halal or not?

    2.8 A Discussion about Paper Money: Halal or not?

    Is paper money just an IOU and debt? What role central and other commercial banks play in creating it?
    How do we understand financial concepts like intrinsic value, quantitative easing, fractional reserve banking with regards to halal and haram aspects of money?
     
    Podcast Hosted by Almir Colan.
    Connect with us:
    Be part of the conversation and keep in touch with us to find out about new episodes and other content.
    Web: www.islamicfinancepodcast.com
    Social media:
    - YouTube
    - Facebook (public page)
    - Facebook (group)
    - Twitter
    - Instagram
    ----
    Read Disclaimer here.

    • 36 min

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