Islamic Fintech: Wake up to the Truth
Muslims globally need a (good) wake-up call about Islamic Fintech and what its impending boom really means for us.
It's high time we started to seriously look at how and why Fintech can and will deeply change many aspects of our lives in the next few years.
Add in Shariah compliance and unique services tailored to Muslim needs, and we will have customised Fintech solutions that are grounded in universal good and encourage responsible lifestyles.
Dear friends, lets seize this incredible opportunity we may never have again. We all have a part to play. Invest or endeavour. You can give or receive. Develop or respond. Lead or support. We can pray for our success together.
We can enhance our financial systems and strengthen its foundations with social capital. Unity, trust and love are our greatest assets. We must and we can recreate the balance and justice that defines Islam, through new models including of course, Islamic Crowdfunding.
We need to take back the power over our own money and the businesses in our communities. We need to ensure whatever wealth we are blessed with becomes an eternal asset, not a curse fed by the dust of riba.
What is the future of Islamic Fintech? Watch this 20-min LIVE recording of my session at the World Islamic Economic Forum recently. InshaAllah it will be beneficial.
If you get it, make sure to spread it :)
The time has come for us to regain power over our own financial choices. Fintech can democratise Finance. Islamic Fintech can democratise Finance for entire Muslim communities, inshaAllah.
We are living in a hyper-connected world. Millions of Muslims who never had a computer now have the internet on simple mobile phones or low-cost smartphones.
We are a giant community, with many smaller communities. Fintech can empower communities by creating internal marketplaces and forums for direct trade and transactions. InshaAllah it is a matter of time before smart contracts come in to automate transactions and set rules that create speed, efficiency and transparency. When this happens, we suddenly uplift microfinance into a viable large-scale investment opportunity.
You give Sadaqah. You probably give Zakah. You know someone who's given Waqf. Where is the impact? I believe an Islamic Social Finance Crowdfunding Platform, like the one we are building, can provide powerful positive pressure for things to improve.
Make money by helping others. Share projects with your friends and family. Invest with your alumni. Join 30 strangers from around the world to crowdfund a profitable social project together. Be a global investor, a real estate developer, with a small amount of money, spread over many projects.
Beyond profit, we are circulating good together. Money can be a blessing or a curse. It is a tool for production yet leads many to destruction (nauzubillah).
Let's all circulate good with what we are blessed with.
Build our future together. Join our community as we embark on the next phase of our journey to Make Profit, Have Social Impact, Circulate Good.
TravelTech | APIs ?? ?? | Founder - Seed Growth ?? | ???? & ????
6 å¹´Hachem Jallouli, MSc
Creative Content Strategist: Words, Videos, Designs that Engage & Convert
7 å¹´Will check out the video
Transforming High-Potential Managers into Game-Changers and Powering SMEs with Smart Digital Solutions.
7 å¹´Good share Umar! I think there is much to look forward to in 2018 as far as Islamic Fintech is concerned. Wish you guys all the best in your efforts. We all have a part to play as you said. Catch up soon brother ??
Director of Engineering | Program / IT Manager | Ex-MySpace | Ex-BofA
7 å¹´Great Post! Thanks for sharing Umar Munshi ! All the best !
TravelTech | APIs ?? ?? | Founder - Seed Growth ?? | ???? & ????
7 å¹´Good read Umar Munshi. Glad to have Islamic FinTech Alliance as one of our key partners for the upcoming Global Islamic FinTech Summit 2018.