My Blog

< YouTube Link >

Sultan Mehmed al-Fatih, also known as Mehmed the Conqueror, fulfilled the prophecy of the Prophet Muhammad (Peace be upon him) by conquering Constantinople (Istanbul) in 1453, marking the end of the Byzantine Empire. Celebrated for his vision and strategic brilliance, he transformed the iconic Aya Sofia into a Waqf, ensuring its financial self-sufficiency and securing its legacy as a mosque for centuries. His actions not only solidified his legacy as a great conqueror but also as a wise and forward-thinking leader.

In this video:
Explore how Sultan Mehmed al-Fatih's waqf endowment for Aya Sofia ensured its self-sufficiency. Learn about his innovative financial strategy and the lessons for us today in supporting strategically important projects.

Learn More and Support Our Work!

To learn more about Islamic finance and economy and to support MMM in producing future financial literacy videos like this, consider becoming a member of our Muslim Money Matters...

< YouTube link >

In this video, we explore how Islamic finance works by connecting its activities to the real economy to bring value and benefit to society as a whole.

Unlike conventional finance, which often deals with money-for-money transactions and leads to the financialization of the economy, Islamic finance focuses on tangible assets and real wealth creation.

Learn More and Support Our Work!
To learn more about Islamic finance and economy and to support MMM in producing future financial literacy videos like this, consider becoming a member of our Muslim Money Matters platform.

Join us at www.muslimmoneymatters.com

< YouTube link >

In this video, we talk about Riba (interest/usury) and how to spot it in everyday transactions.

Using a common example of buying a car, we illustrate how one transaction can be done as permissible trade, while another can entail Riba from a loan or money-for-money arrangement. This can be hard to spot if you're not familiar with it, but by the end of this video, you'll be able to recognise Riba confidently, insha'Allah.  

Learn More and Support Our Work!

To learn more about Islamic finance and economy and to support MMM in producing future financial literacy videos like this, consider becoming a member of our Muslim Money Matters platform.

Join us at www.muslimmoneymatters.com

< YouTube Link >

In this video, we delve into the Islamic principles that determine the permissibility of commercial transactions. We'll explore the key principles that underpin business and finance matters in Islam.

There are two core principles to establish whether something is impermissible in Islamic financial and commercial matters:

1. Explicit Prohibition: We look for evidence that something is explicitly mentioned as prohibited, such as riba (interest), which is clearly forbidden.
2. Contrary to Sharia Objectives: If an action goes against the aims and objectives of the sharia and has a detrimental impact on society, it becomes impermissible.

Understanding these principles helps ensure that business and financial activities align with Islamic ethical standards.

< Youtube Link >

Have you ever thought about how Islamic scholars from the past viewed money, its purpose, and its function in society?

Imam Al-Ghazali offers a profound perspective on the true nature of money, describing it as a divine blessing from Allah. He explains that money is created to serve as a universal mediator in trade, acting as a judge between all commodities.

Al-Ghazali emphasizes that the primary function of money is to facilitate fair exchanges, not to be treated as a commodity itself. When money is used merely for trading and profit-making, it disrupts its intended role, leading to economic imbalances and speculative bubbles.

What is the Islamic economic system and how it differs from socialist and capitalist models? In this masterclass, Almir Colan presents a new model and framework for the Islamic economy.

[Youtube link]

Topics

0:00 Intro
1:09 Socialist vs Capitalist Growth Rates
4:17 Problems with Socialist Economy
7:15 Why it looked like capitalism was winning
9:17 Definition of Economy
11:13 Production, Trade and Money
18:15 Incentives Drive Outcomes
20:41 Bottlenecks in Socialism & Capitalism
30:00 Islamic Economy - The Shepherd’s Model
32:02 1st Pillar: Wealth Distribution
39:29 2nd Pillar: Wealth Protection
43:32 3rd Pillar: Wealth Creation
49:04 Comparing Economic Systems
50:54 Islamic Economy Framework

This masterclass is part of the "Muslim Money Matters" series. To learn more about "Muslim Money Matters" please visit:

https://www.muslimmoneymatters.com

Dive into Riba, learn about its history and impact.

> Download Slides in PDF <

In this video, we explore the subject of riba (interest, usury), its prohibition, and historical context. We also analyse common Riba situations and compare Islamic vs conventional finance.

Topics
0:00 Introduction
0:38 Meaning of Riba
2:16 Prohibition of Riba
3:54 Simple Ribawi Transactions
6:36 Parties Involved in Riba Transactions
8:51 Riba in Previous Nations
9:12 The Bible on Riba (Ribit)
12:17 The Merchant of Venice Story
14:07 Shylock "Sammy the Bull"
15:49 Wisdom Behind the Prohibition of Riba
17:16 Programming of Riba
17:46 The Fall of the Ottoman Empire
20:49 Types of Riba
24:28 Rules for Riba
27:59 Examples of Riba
38:03 Conventional vs. Islamic Finance
44:07 Basic Modes of Finance

Watch on YouTube > click here

Other suggested videos:

Turkiye's Economy: The Untold Story (full documentary)
youtu.be/UyPIrbxFu88?si=ck9DX5RviAHl2khb

Wisdom behind Prohibition of Riba (interest)...

What are the top 5 must-have Islamic finance books on your bookshelf? Here is the list of my top 5 favourite Islamic finance books:

Links from video:

An Introduction to Islamic finance by Mufti Taqi Usmani <Link>

AAOIFI Shariah Standards <Link>

Financial Transactions in Islamic Jurisprudence by Dr Al-Zuhayli (2 volumes). <Link> 

Economic Concepts of Ibn Taymiyyah by Abdul Azim Islahi <Link>

Understanding Islamic Finance by Prof Dr Muhammad Ayub <Link>

Direct Youtube Link for the video "Top 5 books on Islamic Finance" : https://youtu.be/gDNBi2dAAvU

My links - https://www.almircolan.com/links

Welcome to the Bitcoin 101 Short Course.

As Bitcoin’s value increased, many took it as a sign that we are witnessing a breakthrough in the way we conduct commerce.

In this course, we examine various claims around the Bitcoin ecosystem and if ethical investors should buy, trade or invest in bitcoin.

View course via Youtube Playlist at: https://youtube.com/playlist?list=PL648OdKhWVX-jYMmBvAfwtEEF3bJyDEr8

Recently my kids came to me and told me that they wanted to buy something online. I asked them what it was, and it turned out to be a significant purchase. I asked them, how will they buy it since their savings were not enough?

They told me about a new app which allowed them to “buy now, pay later”. I did not like that idea for a number of reasons.

Watch video to learn more.