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Welcome to Islamic Finance 101, a course introducing the core principles of Islamic finance, including contracts, transactions and ethical practices.

Watch the course on YouTube via our playlist or through the Muslim Money Matters website.

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Episode 1: Introduction to Contracts & Transactions

In this first episode, we cover the fundamentals of Islamic finance, the importance of earning a livelihood, and dive into the Islamic law of contracts and business transactions. You’ll learn about the different types of transactions, ownership categories, and key conditions within contracts that shape ethical financial practices in Islam.

Episode 2: Understanding Wealth and Money

In this episode, we explore wealth and money from an Islamic perspective. Learn why wealth is both a blessing and a trial, the role of money in society, and how to use it in a way that benefits both yourself and others.

Episode 3: Key Prohibitions: Riba and Gharar

In this episode, we introduce...

☕ Join me for a relaxed coffee break as I step back from the usual topics to share personal insights on life, career choices and lessons I've learned along the way. Let’s have a chat and hopefully you’ll find something that resonates with your own journey.

Explore the profound wisdom behind Islamic finance and its fundamental differences from conventional financial systems. This video contrasts the impacts of these two approaches on the economy, emphasizing how Islamic finance fosters real economic growth, while conventional finance often leads to the financialization of the economy.

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This reaction video offers an Islamic analysis of a discussion between Christian and Jewish theologians and scholars about the biblical prohibition of interest (usury). As these scholars grapple with the concept of interest in modern economics, the video presents an Islamic perspective on their interpretations and misunderstandings.

Key points covered:

- The Biblical prohibition of interest / usury
- Jewish and Christian scholars' attempts to reconcile Biblical teachings with modern economy
- Jordan Peterson's struggle to understand the wisdom behind the interest ban
- Common misconceptions about interest or usury
- The Islamic view on interest-based economics and its potential societal impacts
- A critical examination of the Christian and Jewish arguments
- Wisdom of religious teachings on finance in our current economic system

This video unpacks the complexities of interest or usury and its implications for our modern world, offering viewers a unique perspective...

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In this video, we explore Ibn Taymiyyah's profound insights on the dangers of money debasement and inflation. Discover how his economic wisdom remains relevant today, especially in understanding the role of government in maintaining the value of currency. Learn why Ibn Taymiyyah warned against the overproduction of money and the consequences it has on society.

*Book referenced in the video is available at https://www.almircolan.com/blog/5books

------ Learn more:

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 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.

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) - Case study GFC
youtu....

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