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Sharing things about Islamic Finance, business and other interests...

Interview: Almir Colan | From personal to finance matters (English subtitles)

In this interview, I share memories from my childhood and growing up in Sarajevo, and also some thoughts about challenges in the Islamic economy and finance.

The video is translated with English subtitles & recorded during my recent trip to hometown Sarajevo in Bosnia by Televizija 5.

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How Islamic is Islamic Finance Industry?

The entrepreneurial nature of Islamic finance is often compromised in the product development phase, where Islamic financial products have been frequently designed to look and feel like conventional ones.

The question that we need to analyse is whether the current Islamic finance industry is moving closer towards the objectives of the Shariah (Islamic Law); or, working against its ability to develop truly alternative products for the future.

For many professionals who enter into Islamic finance industry, there is a pressure to accept situation as it is. To interpret what they see and know in a self-serving manner. Many have become complacent instead of broadening perspective and seeing the bigger picture. And many more just conform to what Industry is today and not what it can become tomorrow.

Islamic finance encourages mutual cooperation, generosity and risk sharing. Instead of charging interest, Islamic banks derive their profit by engaging in entrepreneurial activities with...

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