Discover and read the best of Twitter Threads about #islamicfinance

Most recents (9)

I had asked @EthzemaLeader the following question after his controversial/deliberate remark against #IslamicBanking/#InterestFreeBanking (as it is called here in #Ethiopia). I have today watched another video of him where he tried to "Clarify" but continued to insult us more.
1/n
First of all, he has tried to defend that he is not an #islamophobe by bringing #Muslim audience & that his grandmother was a Muslim. This is the same reply many persons give when they are confronted with their #Islamophobic attitude. #BerhanuNega is no different.
#Ethiopia
2/n
You can have #Muslim parents, lived with #Muslims fasted #Ramadan, eaten #Dates or #Sambusa etc you can still be an #islamophobe. One can claim to be a Muslim but in reality be the most #Islamophobic person that hates #Muslims and #Islam. It is a lame excuse!

#Islamophobia

3/n
Read 13 tweets
𝟲 π—”π——π——π—œπ—§π—œπ—’π—‘π—”π—Ÿ π—ͺ𝗔𝗬𝗦 𝗧𝗒 π—œπ—‘π—–π—₯π—˜π—”π—¦π—˜ 𝗬𝗒𝗨π—₯ π—œπ—‘π—–π—’π— π—˜ 𝗙π—₯𝗒𝗠 𝗔𝗑 π—œπ—¦π—Ÿπ—”π— π—œπ—– π—£π—˜π—₯π—¦π—£π—˜π—–π—§π—œπ—©π—˜

In addition to business, launching a start-up, a job or side hussle & investing, God will grant us more in quantity & quality by the following acts
1. Trust in God

"If you would trust in God as He truly should be trusted, He would surely provide for you as He provides for the birds." [Tirmidhi]
2. Prayers

"O son of Adam! Take time out to constantly worship me, I will fill your heart with contentment, and remove your poverty." [Tirmidhi]

3. Charity

God said: "Spend in charity, O son of Adam, and I will spend on you.” [Bukhari]
Read 6 tweets
Yesterday, we have witnessed the handing over of the 1st operational licence to the first full-fledged #InterestFree Bank #ZamZamBank which is a historic milestone in the #Ethiopia'n Banking industry. #IslamicBanking #IFB #FinancialInclusion
#ZamZam 1/n Image
After the promoters of #ZamZam initiated the idea to the #NBE a directive was issued in October 1, 2011 to allow conventional banks only to give the service along with their commercial services. The #NBE's decision has saddened many. 2/n

#InterestFreeBanking #FinancialInclusion Image
11 Banks has so far started the service in a window model. Currently, these banks combined has mobilized more than 60 Billion Birr in deposits through 5+ million accounts. It is a huge amount compared to the low attention & investment given to #IFB by all stakeholders. 3/n
Read 16 tweets
Pleasure to Chair this distinguished panel of speakers at #GIFS2020: Former Governor @StateBank_Pak @1sakhtar; Mr. Abbasi, SBP; CEO @faysalbank; CEO @habib_metro; CEO @DibPakistan.
Had excellent discussion on #IslamicFinance issues in πŸ‡΅πŸ‡°. Thanks @ArifAlvi President for coming.
Excellent recommendations for #IslamicFinance to become relevant and agile. Setting up National Committee for Islamic finance comprising various members from industry @StateBank_Pak @SECPakistan and banks, academia and professionals for setting "Top-down* approach.
This National Committee similar to Indonesia @kneks_id for setting strategic direction and bringing all stakeholders together and measuring progress on Islamic finance. I emphasised on this and panel supported. There is good progress but need support from govt.
Read 10 tweets
We are #pleased to #conclude our marathon of 4 consecutive #IMF #TechnicalAssistance #missions with productive outcomes for #IslamicFinance, despite the very challenging constraints and limitations.
The first six months of the year under #COVID19, a #NewNormal", have been fantastic intellectually and fulfilling.
The support of colleagues from the #IMF and Central Bank of #Djibouti; Central Bank of #Yemen; Central Bank of #Iraq, and Central Bank of #Libya have been excellent for #Islamicfinance IMF missions through #Cisco #webmex.

Now it is time to have a little break!!
Read 5 tweets
#NewNormal" continues. After #CentralBank of #Yemen and #Iraq, we are having mission with #CentralBank of #Libya. Concluded a very productive #meeting with colleagues from #CentralBank and #IMF for a #Islamicfinance IMF mission through #Cisco #webmex. #riskmanagement #Libya Image
Other than #Sudan and #Iran, #Libya is going to be #third #country in the world to have full-fledged #Islamicfinance system after #transition is completed. It requires a significant progress on Islamic finance #regulation and #supervision, which is #underway.
Happy to be part of last three years engagement, through IMF, with them on various topics. Many thanks to my good friends supervisors Haithem Elyacoubi, anwar tantoush, Hatem Salem, Abdulhamid, Dr. Mukhtar for excellent discussion. I hope this will be a very good #IMF mission.
Read 4 tweets
Have you ever been in a sandstorm?

I was once caught in a sandstorm in the heart of Cairo. We were on a balcony in my friend’s apartment overlooking Tahrir Square, when suddenly in the distance a red puff of smoke appeared...

#islamiceconomics #islamicfinance Image
It began to get larger and larger and before we knew it, we were desperately holding the balcony doors closed as the sandstorm hit with magnitude.

Once closed we stayed down on the floor until some kind of normalcy had returned. Outside, the sky was orange and all around us..
a thin layer of red dust remained. It was everywhere, on the bedcovers, on the kitchen cabinets, the lamps and stairs all over the apartment building.

Human transactions haven’t changed that much in their essence in 1400 years. God’s guidance for human beings is timeless.
Read 6 tweets
#SriAgenda abt to start πŸ”” #May19 3pm CEST

#webinar

Leading Climate Ideas: From taxonomy to the broader #sustainablefinance #revolution "@ClimateBonds
w/
πŸŽ™@NVJRobins1
πŸŽ™Helena Vines Fiestas
πŸŽ™@seankidney
climatebonds.net/webinars#Broad…

#sustainablefinance @andytuit @SRI_Natives
@ClimateBonds @NVJRobins1 @seankidney @andytuit @SRI_Natives the #EUTaxonomy is already having an impact, even though it has not come into force yet, says Helena Vines Fiestas starting her speech

#sustainablefinance #revolution
Read 22 tweets
THREAD
Please do RT thank you πŸ™

What Scholars actually ask for Shariah Compliance vs What they should be asking

#islamicbanking #Islamicfinance #Shariah
OK, following on from my earlier thread on Murabaha, and how it breaks Shariah laws, and the realisation that scholars and academics and professors actually do not seem to know what market practice is, I decided to write a thread about it.
I will try to explain how and why such
practice, even though it is absolutely against AAOIFI Shariah standards, can be approved by reputable scholars.
And then I will illustrate what scholars SHOULD be asking in order to get to the truth of things.

Here, I will talk about a standard commodity Murabaha (CM)
Read 60 tweets

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