Managing Your Money and the Halal Economy with Harris Irfan

For a conscientious Muslim, managing ones money in the West can be a difficult prospect. Islam has a series of rules to do with money, the prohibition of riba (interest) being the key one, and rules on trade that often places it at odds with a rather laissez faire Neo liberal model. Muslims feel a sense of unease when we place our money in banks or engage is investment opportunities that may contravene Islamic precepts.

Our guest today was an Islamic finance industry insider. Harris Irfan is currently the CEO of Cordoba Capital Markets. He has 29 years of investment banking and consulting experience. He was the former co-founder of Deutsche Bank's world-leading Islamic finance team and CEO of Deutsche's Islamic finance subsidiary. He is the Former Global Head of Islamic Finance at Barclays, then Head of Investment Banking for the Rasmala group. He is also the author of "Heaven's Bankers: Inside the Hidden World of Islamic Finance", the critically acclaimed best-seller about the Islamic finance industry.

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FAQs from Harris:
https://www.linkedin.com/pulse..../islamic-finance-faq

Investing My Savings in a Halal Way:
https://www.linkedin.com/pulse..../investing-my-saving


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#thethinkingmuslimpodcast episode 162

Timestamps:
0:00 - Introduction
2:24 - His last show
4:03 – Alternative to Banks
8:17 – Participatory Model
9:15 – Why should we care?
11:50 – Is Islamic Economy Possible?
14:44 – The Spiritual Economy
16:05 – Rizq and how we engage
19:43 – Young Finance People
21:07 – Getting Lost in Capitalism
22:23 – The Halal Economy
26:05 – Risk Sharing
30:43 – All too difficult?
33:00 – How to invest 10K
35:48 – Common Pitfalls
38:12 – Business Mudaraba
43:13 – VC Model
44:13 – Fiat Money and Downturns
50:36 – Islamic Money
52:27 –Get Rich Quick
54:58 – Saving Money
1:04:15 – The Muslim Block
1:08:54 – Muslim Financial Weakness