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Adil Profile picture
Adil
@Adil_IFI
Financial literacy and Islamic economics advocate. Writer | Data Scientist Words: @MuslimMoneyExp @WahedInvest @IFguru @zoyafinance
May 4, 2023 • 9 tweets • 3 min read
In his podcast with @muslimmoneyexp, Mufti Menk @muftimenk outlines a powerful alternative to Riba (interest).

Linking loans to gold to ensure that the lender doesn't lose out due to inflation. Here's why that's a great idea. 🧵 👇 1/8 Image The current major problem with interest-free loans is that the original money loaned out loses value over time. Especially in high inflation environments such as Zimbabwe or Turkey. 📈 2/8
May 3, 2023 • 5 tweets • 3 min read
The Glazers' takeover of Manchester United is a prime example of the evils of interest (Riba) in modern finance.

Here's a short thread on how it damaged the club and why Sheikh Jassim must be the new owner. 1/5 #MUFC #GlazersOut #IslamicFinance Image The interest-based debt from the takeover saddled #MUFC with massive financial burdens.

To date ~ $1bn has been used for interest payments leading to reduced investment in the club and limited success on the pitch. This perfectly illustrates the negative impact of Riba. 📉2/5