?? How we collectively can fix Islamic Finance
IslamicFinanceGuru
?? Helping Muslims financially level up | Personal Finance ?? | Halal Investment ??
Salaam,
?? Not everybody trusts Islamic banking.
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?? It's very common to hear "Islamic banks are no different to normal banks" or that "they replace the word riba with profit" etc.
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?? We get it, and agree that there are some valid criticisms and that the system is not perfect.
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? But change only comes with knowledge. Very few in the financial world, and even in the Islamic financial world, have a sound grasp of what Islamic finance actually is.
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? And Islamic finance also includes investments, takaful insurance, pensions, business financing and many other areas. There is little controversy around much of these. So we must not tar everyone by the same brush.?
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?? Which leads us to the AAOIFI standards...
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What are the AAOIFI Standards?
?? Call it the gospel of modern day Islamic Finance - AAOIFI (which stands for Accounting and Auditing Organisation for Islamic Financial Institutions)?is a leading not-for-profit organisation outlining best practices when it comes to modern day Islamic Finance internationally.?
?? These best practices are known as the AAOIFI Standards.
?? These guidelines are adopted by Islamic institutions in the vast majority of the Middle East, including the Gulf, as well countries like Malaysia and Pakistan to name a few.?
??So to understand modern day Islamic Finance with all its flaws and glory, it's crucial to review these standards critically, understand how where they came from Islamically and where they may need to move towards to truly exemplify prophetic economics.?
?? And those who do truly understand the Standards are equipped to innovate in business as well as progress in their careers.
?? That's why we got together with Mufti Faraz Adam to develop a course focusing on exactly that.?
?? Our hope is that we create a community of people who not only understand where Muslims stand in the world of economics today, but know where we need to be and will help take us there both on the grassroots level and from top-down.
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? You will learn the AAOIFI standards inside out - but the course will go much further than that. You will critically assess how and why scholars made the judgements they did - and if they were justified in making them. Through this you will also learn Usul and maqasid.?
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?? Find out more information via the button below and sign up to a course that will give you a look at the Islamic Finance industry in a way that you'll never find anywhere else.
Become Eligible to Invest
Do you want to invest with us, but couldn't meet the FCA's eligibility requirement? If so, then listen up!
The first Thursday of each month at 16:00PM BST we'll be hosting an online webinar helping you become a 'sophisticated investor' and thus eligible to invest in institutional grade investments on our platform or otherwise.
The next one is Thursday 1st August - click here to sign up .
If you can't make the above date, don't worry, sign up via the button below and join the club directly.
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