Can Pakistan REALLY create an Islamic Economy? Ft Qanit Khalilullah | 424 | TBT

[@lalagardens2807]

As someone who is trying to live as a practicing Muslim Alhamdulillah I found this very helpful

[@mursleenlodhi5809]

Conclusion: Islamic babking based on Full reserve banking is solution, current form of islamic babking is based on fractional reserve banking which is inherently wrong and riba based.

[@abdullahjarral9396]

It answered many of my questions a very awaiting and interedting podcast, job well done both of you ❤❤❤

[@yasinzairy4000]

Requesting Mr. Q Khalil to please team up with selected members of ICAP, to frame a plan to present to the Government to get out of unwanted taxes and pay off IMF borrowing

[@fahadhassan5580]

Thank you so much Muzamil, Mr.Qanit's stance on State Bank full reserve was quite insightful. Need more Islamic finance / banking podcast.

[@Mailtorres]

Your explanations are clear and concise. Despite watching several trading videos, I haven't found practical advice that resonates with me. Can you kindly suggest a reputable trading coach who can effectively guide me through the process? ‎

[@BIDENAN_tfrsz]

The incompetence and corruption in this are becoming increasingly risky and ridiculous. I sympathize with citizens who aren't getting the help they deserve. ‎ ‎

[@NoraJovago]

‎Trading with a professional trader's is crucial for beginners as well as busy investors who have little or know time to monitor their trade. ‎ ‎

[@Danieljoe-ui2je]

There're lot coaches available, but Mrs, Jessica Ellen, stands out as a reputable choice. Her good records is growing daily, and her strategies have been highly effective during this period. She is someone I cannot afford to lose as a guidance ‎

[@JudithScott-r9b]

It seems like you have knowledge about trading. Is it advisable to start with $23k for retirement account this period? Because I'm scared due to market risk. And I don't wanna miss out due to ignorance I need advices please. ‎

[@ElizabethDaniel-]

‎IF YOU DON'T MIND; HOW CAN I REACH HER PLEASE?? ‎ ‎

[@syedmuhammadnasirnaqvi7558]

The Simple Principle of Zakat Zakat, a fundamental pillar of Islam, is easily calculated as one-fortieth (2.5%) of every income. Whether you earn daily, monthly, or yearly, the process remains straightforward: 1. Calculate your income from all sources. 2. Deduct one-fortieth (2.5%) as Zakat. 3. Deliver the Zakat to its rightful recipients. A Fundamental Obligation Just as prayer (Salah) is obligatory for every Muslim, Zakat is also a compulsory act of worship. It's essential to prioritize Zakat as a primary expense, ensuring that you fulfill this vital responsibility. By simplifying the Zakat calculation and emphasizing its importance, this revised version aims to encourage Muslims to prioritize this fundamental aspect of their faith.۔

[@al-wassiuulaleem9500]

M.a your knowledge ❤

[@MonkWay_]

Just create a zakat fund then Instead of tax And make it self volunteered payment. Didn't call it tax 😂

[@arsalanmustafa1563]

Refreshing interview - except for when muzamil shaib kept asking the same question- yes it’s a car rental business !!:) On the investment side there are non-dilutive solutions such Revenue/royalty Based financing- shared risk and return but taken from top line. Making pure minority equity investments/ aka private equity are not easy as there are no easy exits ( ask all the VC investors :)

[@shifa6874]

Completed just now I must say this was an amazing poadcast and it answered many of my questions My recent argument with my Islam and Social Sciences' teacher was regarding Zakat and taxation System, and i was unable to solve my confusions, this podcast cleared them. Again thank you So much 😌

[@talhakhosa]

Really was searching this topic watched all videos a great vid❤

[@shifa6874]

I'm studying the islamic economy system under one of his colleagues and he has been saying to me "larki Kaan khaa jati ho, dmagh chaat jati ho, pori class k swal sirf tumhen hi karney hotey hen" This podcast was a whole class for me and i was amazingly enjoying till the banking system Respected guest ke explanation inti lambi ho gaye k dimagh khushk ho k ghoomney lag gya 😂😂😵‍💫😵‍💫🫨🫨 To bat yeh hey k mujh jesy jo serious log learning purpose k liy dekh rahey hotey (not for the information purpose) kisi Visual Aid and proper modeling k through yeh sab explain kartey to bara hi benefit ho jata😮 abi brain bechara hwaa men process kr rha sab aur chkra rha hey😂😂 And Muzammil k face expressions dekh k bhi hansi chot gai😂 But thank you for introducing such a brilliant guest ❤

[@talhamumtaz2678]

Hats off to the guest and Muzamil bhai. Literally amazed by such an in depth analysis and counter arguments from both sides. Such a discourse is very essential.

[@alimohsin7527]

Qanit Khalilullah is nephew of great Islami Scholar Khurram Murad Marhoom they both are affiliated to Jamaat E Islami Paksitan and great intellect of Pakistan

[@mursleenlodhi5809]

One of the best conversation on Islamic finance

[@lalagardens2807]

Brilliant Masha Allah!

[@yasinzairy4000]

Best discussion, I humbly request the Government to please work out a system to immediately Stop Sales Tax, impose an Usher levy on the Turnover of Businesses/Services etc., and disburse them as cash Grants to Poor and deserving families in population

[@muhammadasiffarooqi7672]

I will join Inner Circle in some months

[@aanakrukavi]

After listening to these gentlemen's, I realised Pakistan is blessed with great economist, bankers, chartered accountants and Intellectuals. May u r tribe increase 😂.

[@yunuskhan4055]

Eye opening discussion , as a banker I see the beauty of the full reserve system , it eliminates bank runs and provides capital to businesses/ consumer through investment funds (similar to mutual funds). On the ijara lending we can truncate the risk further for investors using the CLO structure?

[@unsbinyounas5488]

The basic and fundamental flaw in Islamic economy caomes when we include Zakat in it. Zakat is not Taxation system. It is mentioned with Salat as a Charachter Building attribute. It is basic meaning is to purify yourself. SADQA and JAZIYA is the taxation system that Islam promotes and Ribba is something that is prohibited. There is o reference is we can have in Quran that Zakat mean 2.5% and when we try to prove it from Ahadees then more problems will come. So I appritiacte you to bring these discussions in society but the baisc a fundamental probelm in all these discussion is that everyone try to encapsulte this economy system under Islam and relate it to Zakat. But the hard reality is that the Zakat has nothing to do with economy directly. It is just a Charachter Building componenet of your personality and to purify yourself.

[@fatoushini]

Please invite someone who specializes in Fully Reserve Banking System - or you may research this yourself and have someone sit for a debate on it.

[@rehanjawaid]

It's all good , visionary etc... . however, is bookish...not being Implemented at govt level. Then what is end result or guidance now?

[@3Genius1000]

Please invite Dr. Hussain mohiuddin son of dr. Tahir ul qadri on this topic

[@Uninformed3.0]

Those who want to understand it thoroughly and in simple terms, checkout Javed Ahmed ghamidi sahab's views

[@Uninformed3.0]

As far as I remember the summary was something like: 1- 5% if investment and mehnat both were used. 2- 10% if one of either investment or mehnat was used. 3- 20% if none of them used. i.e., you found a treasure And lastly 2.5% on savings for sahib e istetaat (those whose savings are above a certain threshold)

[@sidradanish621]

Malaysia ny mufti taqi sahab ka help lia tha about thier economy implementations....we neglect our ulema becuz of ignorance n blame islam

[@quadriceps44]

Sincere thank you Muzammil for considering topics such as these, happy to see collegues from PwC working towards solving this 'global' problem

[@quadriceps44]

I believe however that zaid hamid once did a series on tv related to khilfat e rashida, he covers the whole spectrum in broad categories such as economy, justice system, military system, political system in a much better way.

[@SirsharUlHaq]

جو ملک اپنی بنیادی ضرورتیں پوری کرنے کے لئیے ہر معاشی جرم جائیز سمجھے وہ آسلامی معیشت کے صرف وی لاگ بنا سکتا ہے

[@Seerah.9]

No offense, Pakistan needs an "Economy" first to make it "Islamic" later. Why color it Islam....a standard Pakistani is far from a basic Muslim and yet they are in a frenzy to make everything "Islamic".

[@ijlalhusain8215]

Please do a round 2

[@javedahmad662]

Why you don’t invite chairman Shariah Board of SECP and SBP?

[@uzairsharif5985]

uncle proposed theoretical ideas with no regard to practicality.. better approach is to simply use Ethereum and build Islamic finance protocols (e.g. forced Zakat tax etc.) on top of it

[@BimiRaja]

your videoss are really very helpful..keep it up

[@Hassaan509]

Wow, that was such an insightful and deep discussion!

[@hambalakif3177]

full reserve banking will eliminate interest based banking!!

[@hambalakif3177]

amazing podcast !! need to discuss further on the subject

[@realtormuhammedwaqas]

2:10 - Reserve Ratios & Debt-free The bank loans basically become equity in the company.

[@zakimuhammad6049]

Please bring Dr Zeeshan Ahmed VC Al-ghazali university

[@AbdurRahman-wx6to]

Muzamal bhia ap is per taqi Usmani sab ko lekr ai taka wo har cheez ko explain karde

[@afzalmuhammad6776]

Can you please host under the head of islamic economic system The best scholars and political parties that are flag bearers of islam and ask them why Zakat, Ushar system not properly implemented

[@salahuddinqazimuhammad4994]

Regret. Still not well explained. Better study ZATCA Saudi zakat system. Here, zakat,Vat,income tax all work together.

[@windowswp4733]

Muzamil didn't need to ask any question LOL

[@ashishsehgal296]

Aap banking ka kya karoge, aap jihad kijiye

[@UmarSparkyTrades]

1:19:26 The mindset is key to breaking the poverty cycle in Pakistan. Relying on handouts like PKR 20-25K promotes dependency, not innovation. Growth demands education, exposure to big thinkers, and adopting a productive, forward-thinking attitude.

[@saadkhalil5490]

You should go study the concept of 'Helicopter Money', popularised by Milton Friedman.

[@rehanjawaid]

All sanctions of religion do not sit together.there is no one platform solution. Left everything on Govt regulators, which is unjust ......making rich more rich.

[@OnlyAllah.563]

Sood ka kam karny wale aor zalim log kabhe be islamic financial system nai la sakty Jab ulma sood ko halal aor zakat ko haram kara dety ho

[@rehanjawaid]

We want Islamic guidance but not disturbing Muslims' own view points.

[@talhamumtaz2678]

what do you mean by that? and specifically disturbing Muslims? Cause if that's referring to a particular "disturbing" scholar(s) then please elaborate where will you get the "Islamic guidance" from. Either it will be revealed on us which we are sure won't or you will put your brain or seek scholars "own" view on how to implement it in a particular manner.

[@asimjabbar8445]

​​@@talhamumtaz2678 don't you worry. I think this man is perhaps a trader who doesn't wanna pay any tax and fears the system this podcast is talking about. And that trader earns Haram in multiple ways like substandard, fake, counterfeit products, smuggled products trading to steal custom duty charges, hoarding/market manipulation which is exclusively declared Haram by Prophet Muhammad PBUH. And on top of it steals sales tax, service tax from his customers, make his customers sick, plays with the lives of his customers by selling them fake, illegal counterfeit, hazardous products etc etc. Just ask his profession and I would expose the scams of his field and how he is willing to destroy the society for his selfish gains

[@mursleenlodhi5809]

Current baking system is un-Islamic either Islamic banking or conventional banking. Very good podcast.

[@rehanjawaid]

Obeying rule of law of the state is also obligatory by Islam.

[@rehanjawaid]

Unless all fashion of Islam sit together to reach on consensus over one applicable way ,there is shall be persistence in ambiguity on Interest based Banking.

[@mrmachiavelli8380]

Long live capitalism.

[@ArsalanKhan-ym7qu]

Excellent talk. Hats off to Muzamil too who kept the composure despite technical jargon going over his head.

[@balajjamal2671]

Ah yes, Islamic financing with halal interest.

[@SaifUllah355y]

😅😂 What you meant by Hilala Interest

[@rehanjawaid]

Where Islamic Banking is fraud then what single person take stance !????

[@ammarahmed6811]

2nd

[@Aamina.em.s]

can u plz rectify ur way of sayin salam

[@ashishsehgal296]

40 % tax se economy chal nahi rahi, 2•5% se dauregi. Islam on buddhi gone

[@Caddy804]

Please ask these Muslim Economists, Pak has no oil and gas so base their argument based on this country. Just like you ask what would be Pak like in 2050 please add one more question with this and ask for solution to all guests Why 57 muslim countries have young people leaving the country and mostly heading to Non Muslim countries. Why our youth has no future in their own country? Why everyone wants to quit Muslim controlled lands if given a chance. Please frame this question to find answer not analysis.

[@danishaman291]

People are also leaving US to find better jobs and living. Fyi

[@jawwad126]

"Majority" of Pakistanis, Afghans, Bangladeshis, Lebanese, Iranians, I notice are moving to UAE, Saudi Arabia, Bahrain, Oman etc for greener pastures which are all ruled by Muslim rulers.. infact alot of Muslims who had previously settled in West are also now moving or planning to move to the aforementioned Muslim ruled lands.. not sure which ("mostly") ones you are referring to!

[@Caddy804]

@@jawwad126All countries you mentioned practice modern day slavery and once imported labour is old they are kicked out and also they are forced to split their families when children pass high school. Old people when need health care are sent back to the same hell hole they left 20-30 years ago.

[@Caddy804]

Any temporary visa offers in Muslim lands is modern form of slavery, when children of temporary slaves greduate from high school that family is forced to split and kids have to leave their enslaved parent. And this enslaved parent is also let go when he reaches retirement age and is discarded by great Muslim rulers of the region. What a farce they are making of our religion with this practice. Discarded old spent bodies kicked out of the country when they are old and frail. Slavery is still alive under Akama regime across Muslim lands. I once met a Bangladeshi who was sitting in a container in a desert and had not gone back to Bangladesh for 12 years and this is considered Humane treatment by esteemed audience. What a fkd up governance model is actually like by pretend Muslims (sometimes)

[@arshadfarooq9835]

First viewer

[@ftahir76]

Intrest (سود) is banned in Islam, whether through fractional reserved or full reserved. But where in Islam, fractional reserved banking is banned if it is working without interest and instead on sharing of P&L or fixed professional fee? Also, the context of Quran's ayat about wealth circulation among wealthy only is for "Maal-e-Fae" to differentiate from "Maal-e-Ghanimat". It is not a general Islamic economic principle or objective. The objective is justice which is the reason for banning interest even if both sides agree and consider it fair.

[@SaifUllah355y]

Islamic Mulk IMF ka ghulam ha 😅😂

[@usmanmughal410]

اپنی کرتوتوں کی وجہ سے

[@SaifUllah355y]

@usmanmughal410 Apni? What you meant by Apni ...... Mazloom awam jsy 2 time ki roti Ka pta nahi hota Ya wo Hukmaran Jo hm pr musalat ha?

[@usmanmughal410]

@SaifUllah355y ووٹ کون دیتی ہے عوام اور ابھی تک دے رہی ہے اور دوبارہ بھی ووت دے گی

[@SaifUllah355y]

@@usmanmughal410 Lo G ap ko abhi tk yahi nati pata Ka vote sa hakumat Azad societies ma banty ha...... Pakistan ma form 47 sa Kam hoo jata ha.