An Introduction To Islamic Finance (Video)
What is Islamic finance?
Islamic finance represents financial activity that is consistent with the principles of Islamic law or the Shari‘ah, which prohibits unethical, immoral, speculative activities including interest (riba), gambling (maysir), and uncertainty (gharar).
See all "An Introduction to Islamic Finance" videos at Almir Colan's YouTube Channel.
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Responsible Ethical Finance: An Islamic Perspective
There is a universal demand for a fair and just financial system. One that is socially responsible and sustainable. The question is: how do we get there?
By Almir Colan
Financial uncertainty can magnify who we really are. It can bring out the best or the worst in us, and that struggle goes back to the very beginning of human existence. The very first business deal in the history of humankind was made soon after God created the first man and woman. A cunning broker approached these newly created beings with the following proposition: “Your Lord did not forbid you this tree except that you become angels or become of the immortal.” And he swore to them, “Indeed, I am to you from among the sincere advisors.” (Qur’an 7:21-22.) This salesperson knew how to manipulate human fears and aspirations. He sold the first ever triple “A” rated security and shrouded it in ‘sincere’ financial advice. Until that time, Adam and Eve had never...
Islamic finance and opportunities in Australia
Islamic finance has considerable potential to become an important element in Australia’s aspirations to be a global financial services centre in the region. It has the potential to facilitate further innovation and competition in the wholesale and retail banking sectors.
Australia’s growing trade linkages with Asia reflect the demand for Australian commodities from developing countries such as China and India. Of the top 10 trading partners, eight are in the Asia Pacific Region with China and Japan being the country’s top two-way trading partners.
Continued growth in major Asian economies will result in a need to develop resources-related services and infrastructure, which are ideal assets for some forms of Islamic financing, such as Sukuk, Mudaraba, Murabaha and Ijarah. Australia is well positioned to structure and offer such instruments as part of financing packages for resources-related development.
Australia’s attractiveness as a...