Islamic Finance Podcast with Almir Colan

In this episode, we talk about the intersection between technology and finance and what opportunities or challenges it creates for the Islamic fintech industry.

This year we have seen a strong rise in stocks for companies such as Zoom, Tesla and Amazon. With their tech-centric solutions, Amazon is redefining commerce, Zoom is changing the way we work, and Tesla’s software car is disrupting the automotive industry.

The finance world is not far behind with Apple issuing their own credit cards and Facebook looking to start their own digital currency.

In Australia, “buy now, pay later” firms like Afterpay and ZIPpay have benefited as the demand for debt financing increases during the economic slowdown.

The challenge for Islamic firms is to reinvent their business model away from simply commercialising loans. This is because the nature of Islamic finance differs significantly from the conventional one.

Profit that comes from money-for-money exchange represents illegitimate gain or riba. For Islamic FinTech platforms this means that profit must come from the underlying income generating assets or activities such as equity finance or company dividends. If FinTech platforms have a higher aspiration, they could for instance seek ways to connect more directly into manufacturing and production that grow the economy and creates jobs.

In the years ahead, we could perhaps see more start-ups move towards mobile payment solutions just as we see with Alipay and WeChat that are now estimated to be taking almost half of the banking payment fees in China.

At the end, customers will only use technology that serves their needs best. FinTech alone is not a competitive advantage any longer – instead products and services built on trust with a legal and regulatory environment at its core will win the day.

Podcast Hosted by Almir Colan.

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In this episode, we ask what is more superior: Gratitude (Shukr) for wealth or Patience (Sabr) in the face of Poverty?

We also have a little chat about (day) trading and cryptocurrency speculations that seems to dominate our news cycle.

Join Islamic Finance Podcast Telegram Channel & Group Chat

*Official Channel (announcements, episode updates, reminders) Join here: https://t.me/IslamicFinancePodcast

*Group Chat (Chat is a space to discuss all things related to Islamic finance) Chat link: https://t.me/joinchat/8OiQRcWzbe9iMmZl

Don’t forget to rate our podcast *5 stars* wherever you listen to us!

Podcast Hosted by Almir Colan - https://www.almircolan.com

Links for Telegram channel and social media available at https://www.islamicfinancepodcast.com/pages/connect

Almir's Youtube channel available at https://www.youtube.com/almircolan

Connect with us:

Be part of the conversation and keep in touch with us to find out about new episodes and other content.

Web: www.islamicfinancepodcast.com

Social media:

YouTube

Facebook (public page)

Facebook (group)

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In this episode, we talk about freedom to enter into the contract and how Islamic law might deal with the question of a minimum wage.

Podcast Hosted by Almir Colan.

Connect with us:

Be part of the conversation and keep in touch with us to find out about new episodes and other content.

Web: www.islamicfinancepodcast.com

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Read Disclaimer here.

It this episode we talk about the recent moves in the US Stock market and how a group of Reddit traders led financial warfare against Wall street Hedge funds. Some have compared this to the epic battle between David and Goliath (Dawood and Jalut) - but we think there is more to the story. We also look at short selling that was used and if these types of speculative instruments are shariah compliant.

Timeline of events: - Hedge funds shorted the share in GameStop (American video game retailer) and had billions riding on the shares plummeting. - Traders banded together on Reddit's WallStreetBets forum to push the price of the stock up. - This move by Reddit traders push the shares up and thus decimates the hedge funds (short-sellers) - Shares in GameStop shot up more than 1500%. - Some Hedge funds lost billions.

Topics: Short selling, trading, wall street, Elon Musk, Reddit, traders, Tesla, Robinhood, Gamestop, short squeeze, hedge funds, speculation.

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Don’t forget to rate our podcast *5 stars* wherever you listen to us!

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Join Islamic Finance Podcast Telegram channel at: https://t.me/IslamicFinancePodcast

Almir's Youtube channel available at https://www.youtube.com/almircolan

Podcast Hosted by Almir Colan.

Connect with us:

Be part of the conversation and keep in touch with us to find out about new episodes and other content.

Web: www.islamicfinancepodcast.com

Social media:

YouTube

Facebook (public page)

Facebook (group)

Twitter

Instagram

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Read Disclaimer here.

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Disclaimer

The information contained in Almir Colan’s "Islamic Finance Podcast" website and related podcasts are intended to provide general information only and have been prepared without taking into account your objectives, financial situation or needs. Accordingly, the information in this podcast and the related website is not intended to serve as legal, financial, investment, accounting, or tax advice. Before acting on this information, you should consider the appropriateness of this information having regard to your personal objectives, financial situation or needs.

Almir Colan’s "Islamic Finance Podcast" website and related podcasts disclaims all warranties with regard to this information, including all implied warranties of merchantability and fitness for a particular purpose. In no event shall we be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortuous action, arising out of or in connection with the use or performance of this information.

Today we talk about the leadership lessons from the early stage of the state of Madina and its economy.

Links: Almir's MasterClass: Leading with Islamic Finance - https://www.almircolan.com/masterclass

Podcast Episode 3.1: The 3 Pillars of Islamic Economy - The Shepherds model https://www.islamicfinancepodcast.com/blog/3

Join Islamic Finance Podcast Telegram Channel & Group Chat

*Official Channel (announcements, episode updates, reminders) Join here: https://t.me/IslamicFinancePodcast

*Group Chat (Chat is a space to discuss all things related to Islamic finance) Chat link: https://t.me/joinchat/8OiQRcWzbe9iMmZl

Don’t forget to rate our podcast *5 stars* wherever you listen to us!

Podcast Hosted by Almir Colan - https://www.almircolan.com

Links for Telegram channel and social media available at https://www.islamicfinancepodcast.com/pages/connect

Almir's Youtube channel available at https://www.youtube.com/almircolan

Connect with us:

Be part of the conversation and keep in touch with us to find out about new episodes and other content.

Web: www.islamicfinancepodcast.com

Social media:

YouTube

Facebook (public page)

Facebook (group)

Twitter

Instagram