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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.

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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:

The books referenced in 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 : https://youtu.be/gDNBi2dAAvU

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.

In this video we are talking about 2 concepts that are important for understanding the key trends in our economy today.

One of the miracles of Islam are the rules of Riba (interest, usury). Many students who for the first-time study these rules think they are a burden to the economy and question wisdom to why we exchange money for money in equal amounts and on the spot. Sometimes we even ask if there is a place for such restrictions in a modern economy? In this clip, we analyse the power of Islamic economic principles regarding the ban on Riba by looking at the root causes of the Global Financial Crisis.

Please listen and share.

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When Allah wants good for His slave, He puts barakah into his wealth even if his wealth is little.

And when this blessing is withdrawn, one will not enjoy what he has from wealth, even if he has much of it.

So what is Barakah (blessing) in money?

Watch on Youtube:

https://youtu.be/nIfHYImGyXs

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