Case Study: Türkiye's Economic Leadership

[@AlmirColan]

The weaknesses of the ummah and factors tempering our power have deep roots. Studying what empowers the ummah and fosters independence is a necessary part of strategic planning for any future events. Learn more and join Muslim Money Matters platform at www.muslimmoneymatters.com

[@AliAhmed-zc8em]

wacalykkuma salam sir iam from Somalia we dont have what you have right now peace, development leadership may allah bless all of us and kept turkiye

[@omarkul5320]

This is an informative and entertaining masterclass. Not only that, but with an islamic mindframe. By the way, back in school, our teacher also used to tell us the history by showing caricatures. Keep up! May allah bless your work!

[@AlmirColan]

It’s great to hear that you found it useful. We have lessons available at our new members platform Muslim Money Matters - you can check it out at www.muslimmoneymatters.com

[@omarkul5320]

@@AlmirColan Thank you for the invitation. Me personally, I'm really hesitating to pay for educational finance content, since I am studying psychology and planning to go into the health sector.

[@eow693]

Thankyou brother big respect from A Turk living in the Netherlands. I am an Electrical Engineer, we will never stop!❤🇹🇷

[@beeko593]

Go and live in Turkey. Wilders is right. By the way I admire Atatürk ❤

[@eow693]

@@beeko593 i dont meed your opinion bye

[@eow693]

@@beeko593 and secondly if the immigrants leave Netherlands will be bankrupt. They know that also ;) bye trol

[@eow693]

@@beeko593 Good boy admire our sultans like Ataturk. The ottoman children.

[@beeko593]

@@eow693 Atatuk ❤ secularism. Iranian women stood up against religious. islamofascist mindset

[@lonewolf6184]

Thanks for sharing. I pray Turkiye success as they develop their economy. Now on currency and inflation. Turkiye is running printing press as its M2 money supply has gone parabolic. This is core reason of devaluation of Lira and inflation. Yes negative news has implications, but you can't change fundamentals. I hope things get better and Turkiye also has strong currency in the future.

[@tiyes94]

Strong currency will come along with digital money.

[@darkprofile]

Turkey has M2 money supply going crazy because Erdogan cut the interests from %19 to %8 by claming interest is haram in islam. And today Turkey had to increase interest rates to %42. Any nation or state based on religion can't have sustainable modern economical progress. Classical Islam's economical values are based on middle age economy.

[@alpertunga635]

​@@tiyes94digital money will be the death of freedom for working people

[@roberthannah7983]

@@tiyes94 I dont think so, there is a scam every week with crypto.

[@thompsonjake04]

MashaAllah, May Allah bless you and keep you on the straight path + commenting for algorithm

[@tiyes94]

I‘m really happy for you that your channel is growing. 😊

[@mohammadhasmtali2734]

Respect and love from India. Hope more on this topic we will see in future.

[@MeMyselfAndI33]

Assalamunaleykum dear brother. I am so pleased to see such entertaining and educational content. Thank you very much !! May Allah bless you. Warm regards from Germany.

[@fullstackstudent]

Mashallaah incredible documentary and case study. You have really explained important pillars for success and this is something that all successful countries/empires have implemented. What I want to understand is what can be done to implement a successful economy that is free of interest based transactions, that is no bonds, interest rates etc.

[@AlmirColan]

This is how you do it. Exactly as described - create society of producers and entrepreneurs. Riba thrives in lazy society.

[@abdhalimLoulou]

Good job 👍👍👍

[@md.muzahidulislamsamrat8037]

The pension system of Umar is a spectacle probably without parallel in the world. William Muir The caliphate, its Rise, Decline and fall.

[@123kajk]

thank

[@Highlander_1920]

Keep up the great work ❤

[@radicalmedia1984]

Enjoyed this, thank you

[@234ddrtttt]

There were more empires who sent schoolars too europe,like Russia,Japan and Türkiye,The above two took knowledge back we Turks the Wals and glamour.

[@warriordx5520]

Mimicking Islam banking was the cornerstone of the western growth and currently china's growth the Arabs were very smart if not the smartest and created the best banking principles in the world that are aimed at collective success and prosperity instead of racism colonialism and greed I'm not even Muslim but I admire a good logic when I see one

[@roberthannah7983]

Turkey's progress until Erdogan's autocracy was due to its relative stability, low costs, and proximity to high-income Europe which facilitated exports. It surely still has good industrial capacity as Colan notes. But Erdogan's monetary and financial policies have been a disaster, with lack of central bank independence. A more realistic appraisal of the economy follows, from the Turkish Democracy project: President Erdogan’s government has seen the Turkish lira’s record low of 18 against the dollar near the end of 2021. Turkey’s currency is debased and is declining in strength by the day. Its Central Bank lacks independence, and Erdogan’s policies have degraded the rule of law such that corruption and support for extremism go unchecked. Meanwhile, the Turkish people’s daily cost of living is becoming unbearable under rising inflation, which reached nearly 80% in June of 2022.

[@mehmetaydin-fu2fi]

I live in Turkey and the economy has become really bad. We are heading towards the world championship in food inflation. The low interest policy followed has literally exploded inflation, they are trying to recover now, but it seems like it will be very difficult. Especially the situation of retirees is really bad. The refugee issue is one of the reasons that causes demand inflation to explode. In my opinion, the Turkish economy has nothing to take as an example, but there are many things to learn from. Turkey's example should be taught especially in economic history courses, so that such mistakes are not made. Some things were actually tried and the result was a fiasco... Agricultural and animal production cannot keep up with the demand. We could have made a serious breakthrough in Industry 3.0 and we missed that train. Unfortunately, the education system is in a very bad state. As an educator, I do not like it at all and it is far below the standards of the world's developed countries. The latest situation in Turkey is this... The rich are more The rich became more rich. The poor became more poor. The middle class disappeared. The number of the rich and the poor increased.

[@warriordx5520]

Food inflation is because the food was very cheap to begin with and now because of covid and ukraine war the prices were exploited to export a much more expensive product and make larger profit The rich becoming richer is the reality of europe and the U.S that westonoids in Turkey love so much. And that's what they get lol.

[@roberthannah7983]

Perhaps you are one of the few on this post with a realistic view. Why is Colan whitewashing the situation?

[@mehmetaydin-fu2fi]

@@roberthannah7983 thank u Robert.your comment

[@Cxesar]

what is industry 3.0?

[@keyaosman6983]

Would like to see your Russia analyses , Iran, uae, KSA

[@birolakdogan6117]

GDP per person is relatively low at circa US$12k, however a better measure for emerging economies is GDP pp (PPP), this shows the standard of living for Turks at circa USD$42K, which compares favourably with EU countries. The currency can (and does) get manipulated by reliance on overseas capital for funding.

[@darkprofile]

GDP $12k? In Turkey 40% of the workers get paid minimal wage which is between 350-420 dollars avarage. So half of the country get paid $5k yearly. And lira is manipulated by Turkish Central Bank by cutting interests and expending M2 money reserv not oversea capitals.

[@warriordx5520]

@@darkprofile Minimum wage is 450-550 dollars but sure they're paid 17-20k$ yearly in Purchase power the U.S minimum is 30k$ Turks are not starving they're simply the victim of many geopolitical events

[@darkprofile]

@@warriordx5520 Turks are victim of their president, who follows religious nosense economical politics. And at the end he turned backed to ecientific economic and financial systems but Turkish people had been sufeering for 3 years and they will suffer more.

[@darkprofile]

The Classical Islam tradition can't build any succesfull economy model. Turkey made progress when Turkey built economical standarts on modern economical science. When Turkey tried to follow islamist policies in economy Turkey failed. Interest is haram in islam. And in modern economy interest is a useful tool to transfer money source from savings to production and consuming. Erdogan cut interest rates on purpose by claiming interest is haram in islam. And for 3 years Turkey is struggling with inflation. Inflation make rich richer and make poor poorer. Islamic organisations and groups has no democratical values. It is all about submissing to the leader. And leader based progress is not sustainable. Because the ones who want to lead are 99% following their egos not the benefit of the nation. Erdogan is the same example. To win elections he make muslims and secularists hate each other. An economy and a state must not be built on any religion. Because any statitcal law, statical economical system or statical management system can't make progress sustainable. A religion is a static organisation. It can't be updated, modified and changed. And any person who can't change or modified will be outdated. Just like how islamic world is outdated today... Without secularism no islam nation can make a serious progress in economy or science. And if oil rich arabic countries was without oil, they wouldn't be any different than today'sy Afghanistan...

[@warriordx5520]

Turkey's interest rates were sitting at average 11% from 2016-2022 which was much higher than U.S and China interest rates It's a laughable joke to blame "islamist policies" instead of blaming USD depreciation Covid-19 and the ukraine war The gulf countries follow islamist policies and are doing quite well Turks need to stop eating racist propaganda and start observing the true facts without bias.

[@roberthannah7983]

Another realistic view. Why is Colan whitewashing the situation?

[@gribbler8680]

Spot on!

[@brahimzaidi3849]

You do realise many of the western countries are deep in debt and their people are deep in debt with a crash possibly happening soon. And your saying islam traditional way is not the way. Go read a book and some news and you will learn the debt has gone so far out of control and printing money has also gone out of control that these western countries will soon follow turkish ways. Interest is at the hart of all these economies. It was the reason why rich get richer and poor get poorer and the downfall of wester civilization.

[@roberthannah7983]

@@brahimzaidi3849 Countries deep in debt has nothing to do with Islam or secularism, its a result of excessive government spending and avoidance of taxation by the elites. Printing money - after the Covid spending industrial countries are bringing inflation back to the 2% target. Turkey is not there because of incompetent monetary policy - Erdogan trying to curry favour with the Islamists. Rich richer, poor poorer - the rich got that way from business and entrepreneurship, not by letting money sit in a bank with interest. Downfall of western civilization -- tell that to the millions of immigrants and refugees trying to get into western countries.