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Sharing things about Islamic Finance, business and other interests...
The Trouble with Riba (interest, usury)
Dive into Riba, learn about its history and impact.
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)...
Top 5 books on Islamic Finance
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
Buy now, pay later: The Trouble with Frictionless debt
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.
The Financialization and Gamification of the Economy
In this video we are talking about 2 concepts that are important for understanding the key trends in our economy today.
Wisdom behind Prohibition of Riba (interest) - Case study GFC
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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Interview: From personal to finance matters
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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Youtube link: https://www.youtube.com/watch?v=EHyKSAMO3QU
