Managing Your Money and the Halal Economy with Harris Irfan

[@TheThinkingMuslim]

Please remember to subscribe, comment and like - to improve our reach. jzk Also pls consider supporting our work here: www.patreon.com/TheThinkingMuslim

[@ahmadjuwayni6256]

I don't like the mentality of those who say we must have a caliphate to do anything... that's like saying we need to put the roof on without even building the foundations.. they don't realise how corrupt every aspect of societies are.. from education to economics to law... we need to work on creating an Islamic ethical society in practical ways... not just talking about caliphate as a magic word that will solve every issue by itself.. it doesn't make sense.. That you for the podcast..

[@lexmarkcz]

Ö😊ööö P

[@kalayiskaarag1907]

34:24

[@fahd4550]

Books suggested: 1. Talking to My Daughter about the Economy: A Brief History of Capitalism by Yanis Varoufakis 2. Debt: The First 5000 Years by David Graeber 3. The Big Short by Michael Lewis 4. Halal Investing for Beginners: How to Start, Grow and Scale Your Halal Investment Portfolio by Ibrahim Khan and Mohsin Patel

[@kalayiskaarag1907]

Thanks alot 34:34

[@fahd4550]

@@kalayiskaarag1907 You're welcome.

[@sufmeister786]

Jzk for posting this list.

[@armgeo6246]

thanks

[@PeaceofLyli]

I'm reading the fourth one right now

[@shaamilthattayil]

I've been watching a number of videos on this channel and keep coming back here to listen to more talks. There was something serene about the talks on this channel, even with guests who are emphatic like Sami Hamdi. I think what I overlooked is how calm and composed the host is. He never interjects the guests. And remains silent for longer periods than other hosts on KZbin. In my opinion, this strategy of letting the guests talk and complete their point is what that makes these videos a pleasure to watch.

[@hichama1449]

ُAgree totally regarding your comments about the host. What you are describing is exactly how a host should be the focus is on the guest and not the opposite. I have met very few people in the media that match such description in the past 30 years and this one is definitely one of them. Thank you for this valuable comment and thank for such excellent podcast. Irrespective of the topic the quality of the approach is impeccable.

[@Abusteif1]

I feel like the best thing about those interviews is that Jalal listens very attentively to what the guest is saying and he always follows up with brilliant questions. The kind of questions that I, as an average listener, would have.

[@fadumonor868]

it Takes a special person to do that

[@shainn2237]

This ummah united can do so much, may Allah help us to live up to our potential amin

[@sickboy2917]

Ameen 🤲🏼

[@KhattaMeethaOficial]

Your Ummah has No Productivity, No Value Added Goods, Technologically 100 year Behind ,Hates science ,Hypocrite and Corrupt ,,,,Don’t do Wishful Thinking…😂😂

[@candicecole19]

Ya Rab! Do not punish us if we forget or make a mistake. Do not place a burden on us like the one you placed on those before us. Do not burden us with what we cannot bear. Pardon us, forgive us, and have mercy on us. You are our ˹only˺ Guardian. (Quran 2:286) 🤍

[@CEO786]

Oh Allah Azzawajal forgive us through the waseela of the holy prophet Alay his Salatu Wassalam. ❤

[@harriskhan7671]

@@CEO786 Allah swt can always forgive without any holy prophets waseelah.

[@fadumonor868]

Ameen ameen 🤲🤲 thats the best dua mashallah❤

[@zaryalai54]

Thank you for inviting Irfan back to your program . We all need economic and financial stability and education and he is working for the best of muslim communities.

[@ZbigniewWarpinski]

La compréhension de Mme Grace des indicateurs de marché est impressionnante. Elle sait exactement quand entrer et sortir des transactions pour un profit maximum.

[@MustyCrowd-u7l]

Merci à Mme Grâce

[@MustyCrowd-u7l]

Elle est courtier agréé ici aux États-Unis

[@CarineDelgado-c6z]

Comment ..? Je suis débutant en investissement crypto, pouvez-vous me guider sur la façon dont vous avez réalisé vos bénéfices ?

[@ZbigniewWarpinski]

OUI!!! C'est exactement son nom (Mme Grace ), tant de personnes l'ont fortement recommandées et je viens tout juste de commencer avec elle depuis la Belgique???

[@BastienMercier-i2h]

Je suis surpris que ce nom soit mentionné ici, je suis tombé sur le témoignage d'un de ses clients sur CNBC news la semaine dernière.

[@shahzad806]

Wealth is not in having many possessions. Rather, true wealth is the richness of the soul

[@PaulBraman-t1h]

Very good🙂,/and it's the truth!!!!!!!!

[@tariqaziz4534]

sad this immaturity exists . OfCourse in spiritual sense and for hereafter richness of soul matters but what Muslim countries like pakistan,egypt bangladesh indonesia need is not richness of soul but mighty economic system.

[@opportunitiesatyourstepwec8974]

Interesting, when your mom needs surgery to save her life, pay the doctors your soul ❤

[@shahzad806]

@@opportunitiesatyourstepwec8974 Richness of the soul drives our actions and decisions, including the compassion and responsibility we feel towards others, like taking care of a loved one. Without inner richness-qualities like love, empathy, and a sense of duty-one might lack the motivation to prioritize another person's well-being, even in dire situations.

[@stevesmith4901]

Yeah next time when you're hungry, pay the grocer with your soul and see how far it gets you.

[@adilshah5442]

Harris Irfan is the king of his trade- he knows every bit of what he is saying. His knowledge and experience in economics, finance and Islamic finance and its real life application is remarkale.

[@Omarj1986]

you should watch his guest appearance on the Bitcoin documentary titled "God bless Bitcoin" his among heavy weights.

[@adilshah5442]

​@@Omarj1986thanks, will keep that in my to do list

[@imranqazi9256]

Very comprehensive and informative This was my first watch on this journey Thank you so much

[@3aliii]

Thank you both. The closing statements were powerful and accurate. Moving as a block is our only way out . We need an Islamic eco system. Me and my peers are ready once an actual Islamic institute is available. Alhamdullilah, Allah is the sustainer.

[@shahzad806]

Your wealth and your children are only a trial, whereas Allah! With Him is a great reward

[@opportunitiesatyourstepwec8974]

Very true. And use the wisdom Allah has given you too

[@Wisdomseeker1028]

Love what we said. I wish we donated more money to social and economic causes rather than only for the poor. We need to be an economic block and use some funds to gain political support and to be able to buy media

[@Pikadb8815]

This was the shortest hour of my life!! So happy that I found your channel and this episode!! Great message and call for all Muslims at the end of the episode And now I’ll go watch the previous episode with Harris Irfan 🙌🙌🙌

[@auwalsabiu7052]

Thank you for inviting Irfan once again. Please I want you to invite him some other time to talk on cryptocurrency.

[@coverupper1354]

I am realising Alhamdolillah that Harris Irfan is one of the most profound speakers of our time.

[@AliHaider-zk3uh]

I absolutely love your podcast with Harris Irfan. I have learnt a lot from your conversation with him. Hope he comes again in the future.

[@muhammadsuliman4230]

Harris honestly has great plans, may he get the resources available to him to build up this envisioned ecosystem ameen

[@Phoenix85932]

I am deeply moved to hear this. I have been reading and educating myself alone and this gentleman is basically talking about what I was reading about. Alhamdulilah!

[@azraghaffar2613]

Amazing podcast. I'm listening to it from Canada. I had problems finding people to invest my money in the halal way here. I always prayed to Allah to show me ways. Luckily one day on KZbin I saw a gentleman clean-shaven handsome middle-aged muslim man talking about his company investing halal way in canada. I immediately called them attended few of their webinar and it's one yr I'm planning my retirement the Halal way ,Alhumdullilah . Now, I'm teaching my daughters the Islamic way to invest . Although I'm saddened by the approach of Muslims here who least care about their investments.

[@harunabdullah9750]

Everything in the west gets invested one way or the other in the stock market which is based on interest profits. The best solution is hijrah and investment in Muslim lands. You cannot be in the belly of the beast and expect non-riba investments

[@jamiedupont789]

you are aware that "muslim lands" use banking systems that function the same way as western banking systems. Even so called islamic banks are questionable.

[@sufmeister786]

As long as we try our best in whatever capacity we have been given. Alhamdulillah for people who are trying to create alternative halal options in financing etc Allah swt bless them and make it a success and easy for Muslims to become a block and a collective for the empowerment of good and pleasing Allah swt as our primary purpose in life. Ameen.

[@acg52_]

You can make your investments in muslim countries. for example In my country Turkey, there is a sharia index in stock market and halal financial institutions to help you to buy property, land etc

[@harunabdullah9750]

@@acg52_ all Riba. Stock market definition is money making money

[@asiya271]

Wow first time I am seeing a CEO who has such in depth knowledge about Islam Mashallah! Keep it up! and yeah we are really benefitting from this knowledge!

[@forecast_hinderer]

Matt’s ability to communicate his message seems to becoming more focused and hopefully effective. Thank you for your invaluable work.

[@captainprice6199]

Please invite him more frequently. I started to work in this sector, looking to improve it in line with Islamic principles and need as much guidance and inside info as possible! BarakAllahu feek to the team and the honorable guest.

[@salim444]

May Allah bless you and your wealth

[@captainprice6199]

@@salim444 Allah bless you and all your future offspring brother

[@AM-cp6cz]

Is your company one that deals in ribaa or haraam activities? Cos if so, leave

[@captainprice6199]

@@AM-cp6cz do you have a bank account or work for a company that works completely ribaa free? Such a thing doesn't exist in the western world, not even in the Muslim world currently. The prophet, peace be upon him, said that near the end times, ribaa will be so common, that whoever does not deal with it will not be able to avoid its dust. This is the times we are currently in, and to change that, we sadly have to take a bit of dust and get the know-how. Bro Irfan probably trying the same thing. We either achieve our goals of bettering the world for the Ummah, or die trying. If you know a company interest and haram free in germany, pls recommend. Haven't found any yet.

[@QuantumA1]

One of my favourite topics, thanks for bringing back Brother Irfan. So refreshing; I always leave feeling very charged and inspired to do something meaningful for Islam and the broader world. Thank you for this engaging conversation.

[@syedzakiuddin2162]

One of the best Podcase educating on Real Islamic Finance.. much appreciation

[@barkkdesignperdis86]

May Allah Reward you my Brothers. I love you guys for the sake of Allah.❤

[@2cool2smart]

Mashallah, what a smart man, may Allah preserve him, Ameen

[@knisayusuf]

Allah knows best,Ameen to your dua and may Allah make it easy for him and his team to clear the path to halal financing.

[@2cool2smart]

@@knisayusuf Ameen

[@YassineHattab-f4l]

I agree 100% with you that we should act as a block to make a financial independence that we can use to our benefit and support the Islamic community

[@Naushad1210]

I love how the ruling of zakat gently nudges us toward recirculating our money so that it does good in the real world. It shifts the calculation in favor of doing business as opposed to hoarding stagnant money.

[@aominedaiki989]

Thank you, that was a very valuable podcast. So the crux is that Ummah needs Halal businesses and financial / business insight experts who can help in providing Halal investment solutions.

[@arshibintaamir121]

JazakAllahu khair for introducing us to gems who are bringing change and challenging the status quo. My request to the thinking Muslim team: Please host Sahil Adeem. He is one of the rare leaders. A sister from India

[@zeeshansheikh6012]

The kind of guests we as community stand in highly need of A podcast full of knowledge

[@alib7489]

Alhamdulillah... if this episode is as half as good as the last one when you invited brother Irfan last year! Can't wait to listen.

[@hiba3734]

Thank you for inviting him. It was an enlightening coversation. Highly appreciated!

[@salim444]

the ummah needs 1. unity 2. leadership 3. banks 4. industry 5. defense

[@bossssss]

I agree but I think we need to be more educated about Islam. 1. Leadership which will create unity which will lead on to creating a caliphate that is the same model as Muhammad PBUH and His Companions PBU them All.

[@rafid__]

It's time to make it happen 🤲🙏✊

[@SAL-fs1mr]

Banks keep us enslaved in Riba. The Ummah needs a financial system that doesn't require banks.

[@salim444]

@@bossssss yes that too but from what I see, we don't act upon the knowledge and I am trying to emphasize action

[@adamali2886]

The ummah needs the fear of Allah SWT

[@SGLT2]

I really enjoyed when he was on in 2023!

[@RashaadAmra]

jazakallah khayr, much needed conversations, insights and call-to-action for the ummah!

[@mohammadarifsahar2689]

Aameen May Allah guide us to the right path

[@syeddanial267]

Jazakallah khairan kathiran to both of u for an excellent conversation. On the strength of what Harris said, started buying small amounts of bitcoin as a start. May Allah azzawajal Bless the Intent and Make the investment grow.

[@zak992]

This was deep just about kept up with it ! May Allah make both of you amazingly successful in your respective fields, came to the conclusion being content with one slice of bread is better than running after a whole loaf !

[@nabilawaseem-saeed653]

This was such an interesting and much needed episode. I'm looking currently at where my pension is invested and so glad to hear that there are some, albeit few, options available to us Muslims. We definitely need to promote investment into the community in diverse areas and I can vouch for the Aziz Foundation as they funded my daughters Masters degree!

[@drasifofficial]

Much needed, deep conversation.

[@FinanceAdil]

Another riveting podcast 👏 The 'Islamic bank' experiment has failed. Instead, we need: 1. Custodian accounts from fintechs (for day-to-day expenses and short-term savings). 2. Savings accounts from non-bank providers with investment expertise (medium-term savings) 3. Investment accounts (long-term savings)

[@laaibahnaqvi9663]

I am really poor in the field of ECONOMICS I have never studied it but all I could understand is that Islamic finance is still something evolving and right now all you provide is for big scale investors and working on retail investment

[@Zeee530]

Jazakallu Khair for having Mr Irfan back, he was as excellent as he was the last time. I think we generally need to educate ourselves on personal financing, as someone who has been working for a few years now once my paycheck comes in I would lavishly spend and the next thing I know I'm impatiently anticipating the next check. Fortunately I've recently started educating myself on personal finance, best ways to save money, dividing all my expenses into needs and wants and ultimately the 60/30/10 rule to spending. As Harris said we need to make ourselves financially relevant so we can take a seat at the table be it government, financial sector, etc, cause ultimately if we don't have a seat at the table then it means you're on the menu.

[@alphabeta8403]

5:30 Fractional reserve banking 9:30 Why should we care 14:30 Profit/wealth is NOT a bad thing 22:30 Real vs financial economy 27:00 VC firms 29:00 Inflation; QE 33:20 How to invest $10k 39:50 Prophet Muhammad had skin in the money game 44:50 Fiat Money; inflating money supply 48:00 *Bitcoin* 53:00 Debt 56:55 What Muslims invest in 1:00:00 ETFs; REITs; Derivatives 1:06:00 *Unite economically*

[@mursleenlodhi4262]

MashaAllah, great information. At least someone is making sense on Islamic economic.

[@cherryblossom9535]

This is info for any real spiritual person with knowledge of this world and a real conscience .❤

[@sheraisy123456]

I used to like Mr Irfan but after he started talking about bitcoin I love the guy , welcome to the bitcoin rabbit hole 😎

[@khurramabbasi3031]

Better than most religious scholars

[@NusaybahP]

Fantastic video. Loved the first and this one mashAllah! JazakAllah Khair

[@zigzagzallakabam4823]

MashAllah was just listening to old videos of brother Irfan

[@mansharafiq5288]

As an academician who has studied and taught Islamic Finance for almost a decade I agree with every word this man said. Except for Bitcoin maybe, i need to research and revisit that for more clarity. Nonetheless, great talk! Please invite him again.

[@dahirahmed8739]

Thank you so much for your valuable podcasts. Brother Jalal, your thoughtful questions and profound insights truly inspire us as Muslims. keep up the fantastic work of bringing such remarkable individuals. We always learn new things from your channle. Jazaakallah kheyr

[@fasman170]

Excellent content! We need more of this

[@stevesmith4901]

If Harris Irfan had dismissed Bitcoin, I would have dismissed him. Because people who don't understand currency/money dismiss Bitcoin. It is the best form of currency/money we have today. Harris has gained a follower in me.

[@TheCastedone]

What can bitcoin do if the power cuts?

[@stevesmith4901]

@@TheCastedone The same thing I do when I lose my internet connection. I wait for it to come back.

[@Abdur-Rahman862]

Dont know how to break this to you but your opinion holds little value.

[@stevesmith4901]

@@Abdur-Rahman862 But what about Harris Irfan? Does his opinion hold value?

[@Abdur-Rahman862]

@@stevesmith4901 haven't watched the whole video

[@mkhatame86]

This is very informative and useful for the Islamic community. Please let him have more episodes. From US perspective where I live my portfolio consist of: 1/401 k with 8% match ( fortunate to place my match in Islamic ETF AMAGX+ SPUS 2/ I have bitcoins and I think is Islamic, also Islamic ETF SPUS 3/Maximise in ROTH IRA 4/ very important to get red of dept 5/ have 3-6 month of emergency 🚨 6/ pay zakat and charity to people in need

[@mdarifuzzaman746]

Finally I see someone really understand finance. Thanks a lot.

[@harrisjamali]

Excellent podcast! well articulated and points to the root causes of our dilemma but also where the opportunity lies... Would be great to collaborate and move the cause forward!

[@TruthForbidden-ku3qg]

Abu Huraira reported The Messenger of Allah, peace and blessings be upon him said “The Poor Muslim Will Enter Paradise before the Rich by half of a day, the length of which is like Five hundred years”

[@asad-kc8zf]

Abu Bakr and Usman (RA) were both rich people. Moreover how do you define who is rich and who is poor ? What are the absolutes for the comparison?

[@TruthForbidden-ku3qg]

Subhan Allah you must know the two khalifs you named ra….Both died poor… They ra were both renowned for giving their wealth to the poor & left nothing for themselves. I hope the Muslims of today would immolate those Great examples found in the lives of Abu Bakar ra & Uthman bin Affan ra.

[@asad-kc8zf]

@@TruthForbidden-ku3qg I am very well aware of all that. Let me rephrase it, if both of them for example started with 100 camels and bunch of date farms then how do you translate to modern day? It’s very difficult if not impossible. I guess it comes down to wants and needs. Which again is a very subjective thing. Give away everything beyond your needs. It’s easier said than done. But we can only try and only we and our Creator knows our intentions. Even with pure intentions, at the end of the day it’s His mercy that will see us through. Allah knows best.

[@ElizabethCooke-c9d]

Hadiths are hearsay about thw prophet and taking hadith as doctrine means you're associating partners to Allah and you're doing shirk. 90% of muslims believing hadiths that go against qurab are doing shirk. You can't attribute anything to the prophet that you are uncertain of. And you can't be certain what anyone said 300 years after the prophets death is true. Be careful. Hadiths perverted Islam the same way the talmud perverted Judaism and also the supposed saying of Jesus also corrupted Christianity. Hadiths are largely all fabrications and innovation. Islam has been hijacked by hadith and so Allah has made us scattered and astray. Muslims must unite on truth and turn back to the Quran alone.

[@yusufhissein1292]

Mashallah brother may Allah make it easy for you. I have money but I don't know where I can invest. We have seen mudharaba and musharaka but the organisation running this financial modes are not genuine.

[@lottibert]

so so important this podcast.Thanks a lot!

[@careyseable]

Thank you very much, very informative and eye opening indeed. Thank you

[@nurbhai111]

Fantastic platform, keep up the good conversations and learning!

[@opportunitiesatyourstepwec8974]

My interest now .. only thing I Wana learn

[@GeneralWarlord007]

Google the book, The Bitcoin standard. Happy learning👍

[@ibrahimomar6562]

Thank you for the informative discussion ❤

[@hiddenfact5950]

Very informative inside Money/ Wealth by Professional, to understand Ribba in ours currently economic model.Please make him regular guest in your Vlog.

[@muammeralireza335]

Great discussion. Calling "non interest" is critical. Using the word "ethical" is good for marketing in Western type economies and is understandable. Muslim dominated economies should however use the term "sharia compliant".

[@ClayPidgeon46]

What else can Harris irfan share with us? Get him back on asap 😀😀

[@MARC-fq8by]

This podcast was supposed to provide guidance on managing our money in a Halal way. However, after listening to it, I did not hear any tangible suggestions besides "read this and that." The moderator's question, "What should I do if I had $10,000?" was never clearly answered. It happens every time I sit in a presentation or podcast regarding Islamic Finance. The presenter talks about problems more than solutions and makes me feel that it is better to sit on cash than do anything with it.

[@enzoeclipsed]

Agreed

[@cooldude3421]

You want islamic solution in non islamic society! That's interesting. The simple answer is fix the electric grid rather than lighting candle, that's not smart way of living in today's time. Bringing back islamic system only is the solution . Now don't ask me how to fix the grid. There is a will there is a way.

[@irfanmohd091]

i think hes afraid if people listen to his opinion they might lose their money so he doesn't want that to happen

[@GeneralWarlord007]

@Marc, this is indeed the standard, good guests never give you the fish, they rather teach you how to fish. Parallel to this, there is also a risk of giving out financial advice to the masses which is irresponsible because one advice never applies to everyone. However, learn about Bitcoin and consider that your vehicle to exit the rigged riba based FIAT system.

[@greata991]

He clarified that in his answer . No responsible financial advisor would provide a recommendation without a comprehensive understanding of the investor's profile. This includes factors such as age, risk tolerance, financial objectives (both short-term and long-term), current financial situation, investment horizon, income, expenses, liquidity needs, tax considerations, and any existing portfolio

[@mohammadarifkhan4357]

Awesome podcast on Financial topics ❤

[@mursleenlodhi5809]

Thankyou for such useful information.

[@typosbro_]

I've been thinking that same since I watched the last podcast with this brother

[@SM-qk5hi]

As much as I respect him the next day isn't written, so imagine dying while earning haram. Wake up for tahajjud and ask Allah to grant you a way.

[@AM-cp6cz]

Exactly. We would never accept this for any other sin. Working at these investment banks, fund managers in a role where deals are being done rhat include ribaa is clearly haraam. No difference of opinion

[@brahimzaidi3849]

Exactly, so many people in the comment section phrasing this guy when he said focus on the main goal. Like basically forget that your wealth is riba and just focus on day tou might be able to change things because you understand things better? My question to him, who are you? What knowledge of islam have you gained to make such advice regarding major sins whereby your giving them some innovative islamic advice that is not according to the sunnah. To be frank, I lost respect for the podcast is allowing for this to be given, remind people that going ti war with allah is a thing. In the day of judgement angels will force a sword in your hand. Life is very short so please remmber that it's not worth eternity in heaven. May allah guide us all

[@Stormsea201]

​@brahimzaidi3849 I understand your point. I don't necessarily agree with that either. However I don't think we should disregard everything he says. Most of what he says, I deeply agree with. Its observations I saw and felt such as the money supply and the inflation part of it. I might even agree with the potential of Bitcoin to replace fiat money

[@SM-qk5hi]

@@Stormsea201 so the point that's extremely problematic is work for the non-Muslim organisations engaging in Riba for the sake of gaining experience and irfan would definitely take them on after they've experienced sinning basically. On yawm al-qiyama will he take all those people's sins rather than look for an alternative. This encouragement to sin in order to gain experience is extremely problematic.

[@brahimzaidi3849]

@Stormsea201 I am warning people to be careful of these youtubers /podcasters. Do not take any nasseha unless they are proven scholars in islamic shariah who know quran and hafith and provide evidence from the scriptures.

[@mazinjamal_]

The leading thinker of our time on this subject is Shaykh Umar Vadillo.

[@Md.FuyadHasanSagar]

Assalamualikum, Haris Irfan. Big fan here

[@iffatarakhanam1872]

Assalamualaikum. First thanks to Thinking Muslim for doing this video. The Riba free business and investment is very rare now a days and we Muslim ummah need these very much. I am from Bangladesh. Can anyone suggest me how to invest in a Riba free way in my country.

[@candace8186]

There are so many rich Muslims I the world that exist in 3 d world countries like India and Pakistan but there us dire poverty in those countries but also in the west it’s the same. Such financial imbalances!

[@GeneralWarlord007]

Indeed, these are the properties of a bad money where a few get to keep the fruit of their labor saved in assets and the majority running in the hamster wheel of paycheck to paycheck. The system is rigged against the majority.

[@AJ-baraka]

Great interview. My question is how can Harris Irfan promote Bitcoin when we don't know who is really behind it, who are the founders and who is pulling the strings? which raises the issue of Gharar (or extreme uncertainty)... Additionally, there is also the possibility that the US and other world powers may decide to ban Bitcoin if they feel that it may affect their economies and the current financial system.

[@SAL-fs1mr]

Bitcoin is completely open source, so it isn't necessary to know who satoshi is. He doesn't have any special control over the bitcoin network. You can run a full node and be a full peer on the network, verifying the integrity of the ledger using your computer, not beholden to anyone else. Even if banned, you can still use Bitcoin. I would personally not choose to be a slave to their system of Riba currencies and banking.

[@fiqhonomics]

Islamic money is tangible and has intrinsic value, e.g. gold, silver, dates, wheat, barley and salt, as per the hadith.

[@SAL-fs1mr]

@@fiqhonomics the Hadith never mentioned that these were the only forms of money allowed. Those are just what were commonly used at the time.

[@GeneralWarlord007]

Its doesn’t matter who is responsible for creating Bitcoin. The code is readable for everyone. There are a few string pullers, the miners, the noderunners, the companies within this ecosystem and in result of the Blockwars, we learned that Noderunners are the most powerful, who are those? It can be you, me or our mothers. Its so simple. US is not blocking, their presidents are cheerleaders of it Bitcoin to collect votes. China banned it and it is still used and mined in China. Bitcoin is unstoppable because it is impossible to enforce the ban. Read about the Bittorrent protocol and why it is still impossible to ban that. Bitcoin works on the same peer to peer principles. Kinda same issue to banning it like banning Hawala😁. Banks can cry all about it but still massively used worldwide.

[@fiqhonomics]

@SAL-fs1mr bitcoin is limited, all the examples of money in the hadith are tangible, there is an element of luck in finding the nonce, bitcoin mining uses a stupendous amount of electricity, bitcoin is very complex for the layperson to understand

[@PaulBraman-t1h]

Very interesting!!!! Thank you!!!!

[@yrahmed]

12:42 I’d love to learn more about a) the history of Waqfs and b) examples of how to build waqfs in western Muslim communities

[@fiqhonomics]

@@yrahmed we have that in South Africa, Awqaf SA

[@xrawna5189]

Excellent analysis, calling a spade a spade.

[@mikhailsharon4331]

Thank you.

[@and.p.146]

I wanted to tell you that I listened very carefully to the beginning of the presentation and was thinking, if you don't suggest Bitcoin, than I cannot take you seriously 😅...so you also have this kind of listeners and we are growing. inshaAllah we will have a shari'a compliant economy and future through crypto

[@Faiza.A.R]

Excellent talk

[@farukbayraktar-z8j]

I'm currently studying Computer Science in Germany and take great interrest in economy. Maybe i could be part of your project some day, help improve helal investing. Best regards

[@deception6666]

Invite Sheikh imran hossein , he is expert in economic topic..gold medalist in economics.

[@naxpolitikov]

100k views , only 3k likes… that’s how we “support” our muslim community 😊

[@mohdnorzaihar2632]

5 times daily prayer means you need powerful "futuristic co-living communal muslim township/village as ummah Socio-economy backbone", while there's all kind of tools-technology-gadget to help the management-business-investment on daily basis. The Amish gain their own softpower from within their fortress@bunker. We could build those townships all over the world(for muslim-non muslim countries/states/district). Peace be upon us all and assalamualaiqum wmt

[@harunabdullah9750]

You already have all those townships in Muslims lands why the fascination with the west and non-Muslim lands? Are Muslims afraid of hijrah?

[@fiqhonomics]

@mohdnorzaihar2632 money backed by food commodities mentioned in hadith (wheat, barley, dates and analogous non perishable staple foods) could work as currency in such a scenario

[@fiqhonomics]

@harunabdullah9750 "Muslim" countries are often less Islamic than Muslim neighborhoods in Westeen countries.

[@mvhommed]

@@fiqhonomicsLiving in a Muslim community in the West still won’t compare to having halal food everywhere you go and hearing the adhaan 5 times a day. And what about the toll these countries have on the children of the Muslimeen?

[@sofbash]

I was following this guy and agreeing with everything he was saying until 48 mins in ...

[@stevesmith4901]

What happened at 48 mins?

[@towhidhussain4370]

Assalamu Alaykum wrb. I have been followung Br Irfan for last few years and also read the book Heaven's Banker. To Brother Irfan, did you check the "Social Business" theory by Dr Mohammad Yunus? I think there are room for improvement of introducing Real Economy using Social Business and also make it more islamic if there are elements of Riba in the process. Would love to hear from you using Social Business lens. To Brother Jalal, this could be your next topic to explore further inviting relevant speakers in your show. JazakAllahu Khairan.

[@viperx7262]

I've put a decent portion of my long term savings in precious metals just to get it out of the banking system and save myself from the deteriorating effects of inflation. The other portion of my wealth is in ETF's with a little cash left over for emergencies.

[@GeneralWarlord007]

Little cash is smart, consider learning about Bitcoin. There is a 300 page book called “The Bitcoin Standard” written by a Palestinian professor called Saifedean Ammous. It gives all the basic knowledge to understand how and why it works.

[@AbdulLathiefP]

Infinite growth on a finite planet is not logical ❤

[@fiqhonomics]

Currency backed by commodities used as money mentioned in the hadith: gold, silver, dates, wheat, barley and salt and analogous goods, i.e. non-perishable staple foods. Money in Islam has inherent value.

[@coc0a_mst]

Bitcoin has inherent value

[@GeneralWarlord007]

That was the standard back then like traveling on camels and horses, Yet we accept new innovations that improve on those technologies. Somehow on money, some seems to default back to those day because of intellectual laziness to perform own research or lack of guidance from the ulemma(which also lack knowledge on Bitcoin, however they are catching up now). The claim “Bitcoin doesn’t hold any inherent value”, is a clear sign of the lack of knowledge and a knee jerk reaction to dismiss a new innovation. It has inherent value, it requires capital, electricity and human labor to produce one just like gold/dates and your labor doesn’t have a 100% guarantee that this labor will bare fruits, just like a farmer or a goldminer. Looking forward to a new goal post👍

[@fiqhonomics]

@@GeneralWarlord007 what is a bitcoin?

[@stevesmith4901]

@@GeneralWarlord007 You know what else is an innovation from back then? Travelling in cars instead of camels and horses.

[@doctoriftikharmalek6493]

Brother Jalal , I sincerely think that you should have not stopped Harris Irfan while he was talking on concept of Growth at the end of this talk..

[@tims4566]

Very good show

[@NasimBeg]

Harris Really enjoyed the talk and your clarity. Most of your logic applies to a secular approach as well. On your issue with fiat currency, as you rightly observe, the flaw lies in Fractional Reserve Banking, and of course FRB also creates money from money, ie, out of the thin air. A loan by a bank under the FRB system creates money and it gets added to the aggregate money supply, while the repayment of the loan would do the reverse, but the additional payment of interest would reduce the aggregate money supply, compared to where one started, thereby stifling the economy. To avoid that, the aggregate loans must grow to cover that. This is means that debt in the system must grow into perpetuity. The result is mad quest for growth leading to the denuding of the planet and global warming. To my mind, Cryptos are not the answer, as the creation (mining), may not coincide with the growth in the supply of goods and services; but a sovereign digital fiat, if issued in line of with the growth in supply of goods and services. (Can be AI run based on the type of data we can capture today). As regards gold, in the shorter term, the supply of gold can outgrow the growth in the supply of goods and services, which would be inflationary- example the Spaniards bringing back huge quantities of Inka gold. The Dollar Hegemony can possibly be replaced with an upgraded SLR, based on it being structured on trade weighted international trade share of each country - can be adjusted very frequently using AI. Nasim

[@ilkhamnabiev1084]

I really like podcasts with Irfan. The only disagreement I have with him is that BTC is not like gold in terms of manipulation. Unfortunately, bitcoin is even more manipulated and held by specific number of people, so the price can be driven any way this big guys want to. I think it would be much better to have kind of crypto that will be connected to gold's price, of course, that will give you a right to change it for a real piece of gold and it will resolve the problem of taking it anywhere around the world in a form of real gold or in a form of cryptocurrency. My humble opinion, just sharing it Thank you for a video, so beneficial and enjoyable alhamdullilah

[@Eokboy]

There's already plenty of gold-backed cryptocurrencies e.g. Tether Gold, Paxos Gold. These will end up being debased if widely used, as dollar was once backed by gold but now no more. Unless a technology exists that can teleport gold atoms, there's no point recreating paper or electronic currency backed by gold. Use gold coins if you want to transact with gold.

[@ilkhamnabiev1084]

@@Eokboy I said gold because he supports as me the gold standard. Gold backed cryptocurrencies that we have today are not safe, in my opinion. I just suggest something better regulated than that. Unfortunately, it doesnt exist yet. However, Bitcoin still is not an option until guys with bunch of money manipulate it. It is not safe as gold today even though it has similiar characteristics

[@fiqhonomics]

@ilkhamnabiev1084 we could use currency backed by the food commodities mentioned in the hadith, dates, wheat, barley or analogous (non perishable staple) foods, e.g. rice, maize even honey, olive oil etc.

[@fiqhonomics]

@ilkhamnabiev1084 my understanding is the murabitun abandoned their gold dinar project because the price is manipulated by the kuffaar, but they seem to have started up again

[@ilkhamnabiev1084]

@@fiqhonomics Yes. the thing is with bitcoin everything the same. As you said, kuffar drive price up and down of BTC as they do with gold prices. We as muslims probably have to create something like btc that is not held by restricted amount of people with bunch of money and somehow regulate it to avoid centralization in one hand

[@wasifmahmood834]

Also, I definitely agree with Pfida model. It is one of the only companies I know, that was not affected in the same way by how all other banks reacted when Liz Truss and her economy destroying budget was made. Their customers were not affected in the same way. I have also met the people behind it and they are genuiney good people.

[@Unknown_royaltyy]

Very good 👍