Just how ‘Islamic’ is Islamic Finance?

Akram Nadwi


Channel: Akram Nadwi

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The speakers discuss the concept of Islamic Finance, which is a cooperation between cooperation and competition to help individuals save their lives and achieve wealth. They stress the importance of cooperation and collaboration in achieving the welfare system, avoiding fraud and deception, and avoiding bad behavior. The use of signs and symbols to signal that someone is not very free, and caution against being too neutral in Islam. The speakers also discuss the importance of being a thoughtful and risk-averse person, as well as their experience with a recent incident and the need for continuous improvement.

AI Generated Transcript ©

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Mila Nani ye are the Euler who was approximately Eva de la la quinta school. were part of the Alaia you're also guru Vanessa Eva, the woman who slotted her in Eb matana Luna Ali, were part of the Allah year a year levina amanu kuromon ichiba de ma come wash guru Rila in kuntum Jota, Abu locata Allah wa De La Jolla, I will have Rama Reba rapala Kula

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be powder coated I akuna Duda.

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So, my dear brothers and sisters Sharla in discord UCU the basic concept of Islamic Finance, which have been acts in adopting, so, you know, it will help say, is this color sooner to move on and to protect themselves. So, the first thing will be, you know, the basic concept is like finance, it actually has come in the Quran, the sooner and the writing South Africa, Honduras for a long time for 1400 years. Then after that, you know, the modern world, you know, how the pharmacies function in the modern world. And then after that, you know, what is new Islamic Finance, which you can see so much, you know, people call Sharia compliance and this and that, all those things that are the

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theory that what are the, you know, what are, you know, issues that we have to understand properly and really look critically at Islamic law not, you know, isn't it is not enough that you call something Islamic, you have to look whether it Islamic or not. So, you know, I will try something I think you might have misheard, receive it and inshallah some more writers will come.

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So, first thing in the beginning, very important to understand is actually, that what is the basic concept of finance in Islam or economics to contain this now, what are the basic concept, basic concept in Islam is far the circulation of the wealth in the society is basically cooperation, for less competition, cooperation, less competition, while you see really in the modern world, what are happening happening in our secular world, what happening, it is basically competition, cooperation, well, it is to teach the competition to basic consider basically, is competition, everybody wants to become either as possible, then they seek help, others will cooperate, when it actually helps our

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competition, I want to become richer. And if I have to be in order to become rich, I also need your help I seek your help, because I want basic concept basic purpose, to become rich and rich, Islamic conceptually is not like that Islamic ways, cooperation, mitigate the wealth should be circulated in the society on the basis of the cooperation, helping each other, when you help each other. There are so many competition because competition is actually what makes people to help.

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Okay, when it comes to competition, there's also basic difference competition in the modern or secular economics actually, is it you know, to basically serving the copper, you know, competition actually is venting, or cooperation comes to serve it. The another thing as well is compensation basically, to become rich and rich. When in the salon you find competition in order to become richer, basically, competition, actually is also in Islam to spend more money to help people competition, and I wanted to come up with a reason actually, is spending money more and more is actually more research, you can see, even you can see the word of the word competition, it comes in,

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both in Islamic economics and also in modern, but in Islamic economics, Islamic Finance, you can say competition basically means that to set the cooperation, you know, I spend more money right to help my brothers and I want to beat you, you're spending and I miss money, I want to spend more more than you while secular, you know, finances it basically, that I want to become rich, you know, in an in a business more more spending more more more income, more more saving, and a competition because element of that, keep that in mind, because this is very, very important thing really, because I will come to Islamic finance declined considerably, that how it has become just you know, cover up

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exercises and there is nothing, you know, the really spirit of Islam is gone from there. So it is cooperation, cooperation, plus competition, but competition is not only one way that you know, I just become competition also to help other people to save their life to me spend money in the path of Allah satola and directly is a competition that Parana is more carozza Wolfie danika forget an Alpha Sigma Tanaka soon meaning is spending money giving sanctuary. This is where people should compete, not to make more houses, rather to give the house if you have a spare house to give other people not to have more sheep and more goats and more animals. If you have a spare sheep up your

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brother, that person said if you have a two sheep, give what your brother so he can do it in that competition not to have more and more or other competition. We spend more and more competition there, but it's a different angle. So when the world is circular the society is alarm has got a basic concept. This concept not only

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Islam always used to be, and Islam never was to mix between the different mixing the bit of confusion them, it will take away the spirit. So, one way of circulation of the of the wealth in the society the basic thing really sadaqa meaning if there is poor people, give them money, not for business not agree give 1.2 pounds, this is not allowed, give them money, nothing, because you expect reward from them. No, you give them money, not because they want to thank you, you know, we only give them money, because expecting reward from Allah in the hereafter. So, the time giving the money to the poor people, you can imagine really, you know, is a Muslim should not look at that. But

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it helps us, you know, it helps economics to grow. Because even the poor people to get in the purchasing power in this way, they will buy because they need rich people when they get more and more money, less spending, because they already know if somebody is already a millionaire and this and that, they still cheat, you know, one newspaper, that people are millions and millions pound, why they cheat, they're not going to use it, we're still the cheat more and more to that is that money which come to them in order to use, but the quarter people who actually have nothing to eat it, when you give them money, give them money, they're going to use it, it basically has no problem

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with the economics of any society. So the first thing actually how the wealthy circulated it, rich people, they have this pill and when they spend money, that to where they're spending, one is obligatory, they must spend anyway, if people have gotten enough money, it's horrible mess up. Once you own in this up in this country, roughly, we'll be around 2000 pounds, if you have 2000 pounds, and one year passes, then you must spend, you know, a, you know, two and a half percent of debt saving in the portfolio that's obligately. And this obligation is on the gold and the silver on the money and the savings in also on the animals, whatever people have got it on every single thing,

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then on the top of that it's not encourages people to spend more than that. If your your neighbors are hungry, you must give them must feed him. And you know, and a Muslim cannot be Muslim, if it is never the hunger impossible. Give the people be generous with the people.

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So this is another thing. Second thing hubba hubba is a gift, a bar mitzvah gift meaning that you have brothers and friends and sisters and related, whatever Islam encourages you, be generous. Give them give them you know, not as a gift to the poor people, the end of the rich, give them money, give them gift. Why? Because you need to increase the friendship level.

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You are related, you know, give gift to your father, to your mother to your brothers, your sisters, your friends, not as a reward for them from not business, give them just thought friendship. That's called heaven. So you got to go hereafter, then they should not take your business. This was to call my brother in helping me and giving me gifts, I should be more generous. So this generosity comes with generosity, very often gifts that we are about to you basically, in the economic system, which is more more circulated. So it's another thing gift is HIPAA. HIPAA is very, very important Islam, and there are at the heart, the heart, to give gifts to everybody you love each other to Islam was

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to increase the love in the society, you know, does not want to make people selfish, in their psychological organs, basically circular circular ways to make people selfish, even actually people don't like to give anything to their father and mother

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is most known everybody friends, people, your teachers, your students, everybody give them no reward. If you have money that's good. If you have you know more wealth, give them be generous host them like Ramadan is coming feed people. So that is not feeding on the poor because that's the other car even if it is Amazon, sometimes you send your star to the most you don't send only to poor people, you send all the people that thought the matter of the 30 you buy something you buy from the sharper your wife prepare something and then you take to the mosque, and many many tourists some of the poor some of the rich people so it is basically helping in the whole economic. So the second

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thing is in Heber then the third thing is you we split up the wealth in with so much money and your neighbor and all those people they don't have money and they need something you have given us the data that you have given however, is still your money is left to what Islamic terrorists okay lending money, don't keep it lending people to other people who need it, they take it they do their whole business to circulation more and more money that's their target. When you give 30 you don't take any reward only for just for the welfare of the people. My brother needs 1000 pounds I've got one give him on his God to do business and if you cannot turn the time give him more time if you

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still cannot forgive him Islam because you forgive the people you know don't make a burden upon the people forgive them. So you know this thing you cannot really is Islamic with not only around money money, as a means money to serve the society that society is best or more friendship, if something like that it completely within our ability. We love each other. You

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But what if you need really, you know, proper human being, but in the warehouse become really easy that everybody just basically, in a word to use any opportunity to make more money to make more money, by cheating by this by that?

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And that why can Islamic money used to be gold and silver, gold and silver, you can't keep Kadena. So basically it is good for you to lead people to at least say your money is guaranteed will come back otherwise we'll be keeping at home somebody can steal. And Islam had no banking system to kind of take anywhere else. So you can say Islamic system helps people to lend money, this other truck gives the car no money kicking at home is a big burden, gold or silver you money. When you move, you go for Hajj and your house empty, you can't carry all the money to hide, you have to give to the people. So there is no bank system is wrong. I will calculate out how by the system has corrupted

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the whole economy of the world. People don't understand it, but it will come later on. So this this will come really due to the cooperation plus competition, but to come under the welfare system or some you know, the welfare system, it's not really no it's not in our business, the welfare, you know, and but here as what cooperation, basic spirit of cooperation, but then competition is up sadaqa Why should it be more than him? You know, you build a mosque, I should go to mosque, you know, like that's not enough you bought a car I bought a car No, you made a bit hospital, I should be more generous than you were to hospitals, you know, you basically provide water for the

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community, I should provide more motor for other medical committee, this competition is good competition to cooperation, less competition doing more and more. So, this is concerned in anticipation of the world, but under more under welfare. The second thing is coming to click proper business, you will certainly not have Islamization encourages, that people should know you know, if I need something and you have I buy from you, I should not just borrow from you, I should have been more you know, I should really be a hardworking person, I should have the money and then I buy what I need. And you sell to me to your your purpose is to provide those things in a society which people

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need. It is also cooperation, buying and selling and Islams cooperation, because they know you you basically import of America, though data to the society news. And when people buy to people you need to fulfill and you also get some money to you make more and more to helping you Sorry. So it's a real, no need of helping nearly as a society. When greed comes about. You are not really helping society, you basically want to make take their money, do you thinking our new idea how to take money to you, you basically manufacture those to which suicide are not needed, then you can image the society it is good for you why they don't need it, you're not hitting society, you basically just

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competition, more more money, no cooperation, you know, all these things that make up system for women, you can see our advertised on the TV, and when somebody appears very ugly, and then they apply this cream, and then they become so handsome. And then you're going by and you're you're struggling to it helping society, it is just cheating, or cheating. In Islam buying and selling is far apart part of cooperation, helping society to you know, I have something which I don't need, but you need so I provide to you, but because I spend money on that gr so give me money on Saturday profit, so that I can make more and more to buying and selling to what is buying, buying, buying and

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selling in buying and selling Islam never allows any cheating, any deception, any unnecessary risk in a visa which can be awarded nothing like that all to be very clear, what is the board it should be known what is sold, it should be known described properly. And it should be as only you can assess something you don't know, meaning it shouldn't be buying essentially based on honesty, honesty, clarity, everything should be clear. No cheating, no deception, nothing at all. Then after that, certainly when your business, if I want something, I can sell it. But sometimes people want to make their way to business and they don't have enough money, enough capital to invest it. So then I

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said to you, though, Muhammad, you know, you have money and I just put together and make a business there cancer musharaka the maracas partnership, your money, my money, 10 people's money, five people's money 20 people's money, or we've come together and we do business musharaka what is actually essential in Islam mushara is that evil people should actually decide their profit and the base of their partnership, in whatever condition you're in 10% Well, in this business, you have 20% somebody has 5% to whatever actually our percentage, we take the profit.

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But we also share the loss at masakadza based partnership based on the no sheriff, no loss and profitable that how businesses risk it shouldn't be nothing guaranteed. If any part

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Party makes it it's a profit guarantee a capital guarantee there is no more Masato

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nobody's capital and nobody in a profit will be guaranteed musharaka if I invest 10% in the business, it could be possible I lose all I even lose the capital by could also possible that I you know, keep the I have my capital and also make profit generally that will happen more profit but possibility will remain here that you don't make profit plus will pass possibly also be you made loss. First, it also can be that you will lose your capital or it can happen that Masha Masha investing in partnership, where basically you share the loss and profit properly, you know, on the basis of what your partnership with

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then we have got Islam modaraba what modar why'd you have money, but I don't have money.

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But I have a skill, I have a hand what I am very hardworking person, do you say to me, okay, I've got the money, I don't have time, take my money do business. I am whatever profit we make you make it we can share. And if it lasts, then we can share the loss, ego, something like that the investor pool, like you know, you give me 1000 pounds, and I spend my time and then we agree that whatever profit we make, you know, unless you're away 50% or 50% or 6040, whatever, 50 50%. I'm saluting, because I'm investing my time I'm listing my time are you resting investing your capital, both are investing and then after that we make profit, both share, we make a loss both here to either This is

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modaraba in modaraba monies from one side and one party an effort and work with from the other party that modaraba masataka both of them invest the capital of both parties, three party what are the partners, they invested money by modaraba some of them invest money and other parties what they do they make their effort there is skill, you know, their expertise, they bring that and they work hard. That's it modaraba masaka modaraba they are the main tools of the visuals insula basically if you want to make a fine Is that what it means? masaka and modar Why is that how are we have been used in this amount throughout 1400 years in Islam. The one lead tools have been used for the

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businesses musharaka and modaraba. Partnership you know with the capital or with the effort, but sharing the loss and profit properly without any cheating without any expectation, no exploitation at all. sharing that. Then after that it is now also comes with a call center.

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I want to use introduce this concept not because they're part of the business but they have been used by more Islamic finance to use you need to know because I will say this Salaam wa sallam means first understand Islamic concept. Islamic concept is you are never allowed to sell something which you don't have don't own it is simple theory if you don't want something you cannot sell and especially if you do something does not exist, how can you sell it, something does not exist and not only never can sell you only can sell what you own and what exists. What Salamis sell and basically you come to a farmer

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and you tell him that you know after six months when they know your graphs are you know harvested and when you have got to wheat or rice you know I want to tell you in advance and why to buy from you know 100 kilo rice basmati rice, you metaphorical and describe it like this. It does not exist a farmer does not. He is going to plot grow as a tip for five months. And then a harvest will come and then he'll pay you.

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He is selling something we did not exist. He does not own. Technically in Islam, it should not be allowed.

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But still for Harlow why Islamic we live in every single day every contract is every business Islam is based on a very important concept. That is to help the needy people. His alarm kind of met exception in the rule when a health care for the needy people. People who need people who don't need no further 40 somebody dying out of hunger even harder because you can eat if somebody has a need for an apple I need to record Korean in this country if I have children I have to move around. I need her car.

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But heavy car, I mean sasahara because for the car you need to ensure insurance and insurance islamically if I want you want to transmit respect to you islamically apply to everybody in shape not alone. But the reason we allows this insurance because of the need people need it to some time out of the need. And out of the mostly out of necessity. But sometimes out of the needing something which is not allowed. They also can be allowed.

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But rich people don't have need for rapid if I am selling you something and I'm raising my millionaire

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and I

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don't own it. You cannot sell buy get it didn't sell because you know what, what is stopping you from hiring either you should help you can sell something you don't have to find out well if I'm selling to you computers, and I don't have any computer network I should buy the computer didn't show it home and in the shop and then you come and buy it if I don't have completed I cannot sell but for the poor people Islamic exception farmers actually need the money to invest that by the end of the year farmer can you let them know money to the country with your money they buy sews then they actually invest in in watering the crops and looking after that in the farm and then after they

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grow they need if you don't help him nothing will happen in society we have no food nothing that he did basic need of society that people should help with their castle Sanam basically music when you buy agricultural product from the farmer in which he did not have you pay the price in advance and he payback or delivers the product later on in known dead fixed dead but the products must be clearly defined described properly, you stay bass materiali Tilda make it very clear, this quality, that quality everything properly, then he's overnight, he must deliver the same quality he cannot change it, it should be described properly. And you know, these things are very similar toilet paper

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can deliver out, you know, this week in with this quality of this bar Lee or this, you know, whatever protocol you describe for the castle, in the ceremony happening in the payment of the price is done in advance in advance. And delivery, delivery of the product is done later on an unknown date. And the product is defined and described properly in a way that no dispute can arise later. Islam does not want any of this Islam was miter should be as clean as pure as possible. Is it clear? That's

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the other thing we have got it is this an hour? Or is this an hour? So now there's no need to manufacture to make this does not mean that you know like somebody is

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this is this what I'm preaching is to say no, this does not basically mean again the way it is here

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you have to sell them basically means that you buy an agricultural product from a farmer, you pay the price in advance and he delivers the product on a later date, which is known as fixed it that must be known and that the sole item is productive must be described so well that no confusion and didn't no dispute in the future meaning in the amount the quality the make whatever is considered every single day for the riser, you need to notice basmati but also basmati is different types if you have to say this basmati Pakistani basmati or they have so many you know names that basmati then you have to say the quantity how much quantity and then the date or the things will be displayed

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properly then they can hit then is it possible to buy some has minimal condition. In some you never can make a ceremony of something we did, we did not have similarity ceremony can open doors which are sold by description. If something like house housing like a cinema, every house is different, how to not sell them to try to understand but now they're playing in houses that are trying to say we understand what sort of means Salaam has come to help the poor farmers that basically consumptive is this is desonide again, manufacturers manufacturing this autonomy to ask someone to manufacture for restaurants to manufacture to to make it doesn't allow us to ask someone to make for you. You

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can play shoe maker.

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You don't have

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to ask him that you know can you deliver to me a shoes of my size for this letter, this quality, you know this properly. And this read effect and that 15 days and I think the bus shoe makers, poor people they don't have money what happened you give them money then they go and buy the leather and then after that they make and they deliver Islam was to help the basically you know these people to work and it's helping the economy to come up with the money that he makes if you don't give money does not have money to give him money he goes and buys leather because he helping the economy and then he comes and delivers to you. These poor people that don't have money to help them Islam allows

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you to buy from them something we did not have. But the describe to you they're telling you I'll deliver your shoe exactly as you said right down properly and you give the price though it's about happening. You deliver you give the money price in advance and the manufacturer delivers the product I put product item later on on a different

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Did I and the product is well defined. So Dell no dispute can arrive it let's tell them basically the differences Salamis agricultural product. why this is happening in in manufacturing basically that what is the difference in both or is that the same concept on both is to help the people in both contract if you are buying something did not exist, but is allowed an exception. It is clear.

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Then another thing is Islam exception as a genre.

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In Islam you can sell things which you own and which can be fined, but you cannot sell a utility

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you can't sell etc. I cannot sell it selling it for Apple encourages me to not define I can assert to you that you know you're either discovered but you can use it and pay me this money because using the come to know how whatever it is that you put how much you go to eat, you cannot define similarly for food. I have a house I can sell the house by selling the utility of the house that's in my house. I will keep owning but you can use it you can you know live in it. And after every month you pay me This is basically what is selling it not known not be fine. Nobody can define this. It is islamically something which is not does not exist cannot be defined properly. It should not be

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allowed for again for the need of the word people his alarm allows her into why because poor people don't have houses and I'm a rich person I bought two houses and poor person does not have a house to if I will list a house that not even How can he buy we did not have enough money to for the sake of the poor people he said I'm allowed renting, too I have two houses and one house is pure. You have no money to buy it but you can actually pay rent. You can appear really that you know what you know us. Certainly we are not going to define a certainly sometimes we use more than I think sometimes we less than that sometimes don't leave it you will you have to guardhouse underwriter and that's for

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somebody then you have to move for two three months instead of the parent you're paying rent for something you never use it. So this thing really not Islamic not corrupted. But still we allow it Why? Because it helps poor people cut people who don't have houses. Either it helps them they're also more than that. I can do business. But even if I have money, or if I have modaraba but sometimes really I don't have anything like that I but have some skill to some people can employ him and they use might benefit from my skill and they pay me money. This is very difficult to describe properly. But Islam allows because it is where most people are learned to they're employed because

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if it's not happening, how they're going to get money to you know to help them you got a Jara Jara basically really is also coming in exception. Let's sell a man he says it is really helping the poor people, people who don't have money to help them to get some money.

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That is renting versus renting.

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Your rent yeah legales rent you know this

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is our employment our circumstances era. Unemployment are too tight one employment actually that I employ you for certain tasks you I can set to do that you know, vertical my window once you record I paid some money. If you repair you get money for your money under employment actually easy when I apply agile has mean I said to you in writing there's so much work at my home, too. I need you know somebody who can an employee who can work for me, you know, for a whole year on a monthly I'll pay you one 500 or 600 pounds and then you work maybe they're no work sometime we're still you get that money does that our soldiers are both are allowed to you can make employees equal for certain tasks.

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And you can up imply people I the whole meaning that they've come your employee from five from eight to five, from eight out from eight o'clock to five o'clock. What you know the tasks that you described them exist they will do it did not exist they still get the money but they directly are normal employment happening. Both are permanent.

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These funds lump sum of dough technically should not without but it is from very beginning is allowed. Then it comes in something called morava morava hi mister is not a business tool in our life. It was it basically should come and that will fit our system. But I'm put here to capture some similarity and now by modify parts to use, you know, very wrongly what murabaha means murabaha means I have a

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I'm a neighbor of somebody who has computer computers. I bought a good computer from him. I brought to the classroom like very much you said oh so nice computer. They use it to me were device from my neighbor to use it okay going to Oxford buying getting so much difficulty apart of hardship. You said to me you have your neighbor has completed anyway sell your compared to me and I and you can buy for yourself. I'm not a business mind but you

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You know out of welfare helping you because you cannot go to work sorry and also you say that no I can be cheated you know the computers more than me or my friend on this computer knew your sister chosen for Joseph to I know that it is good quality of working. And for me really I don't know how to do so if you can give me plus your password and some parameters. So sometimes what happens is people say no profit in just this past two I bought this computer for 1000 pounds under cost whatever you decide that whatever 100 more 1100 pounds and I said to my friend okay give me 1100 pounds so of course nothing else and I get ticked off by

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2000 Talia is also same thing but isn't it finest to never Houstonian the top that are in a very important because there's no money in that the no profit did never historia is and I'm also totally Tanya means that you buy an item and then you have your gift to your friend. Just under cost. Nothing is nothing else. To you know I bought it this item for 100 pounds. And I spent five pounds in the basically on the dashboard. To I said to you say your friend give me 105 once I take it I don't have to magnetically in his mind. I'm just you know give it to you out of favor. For some time I'll say Salaam allows up 105 pounds and take two pounds more profit. You're not in this business

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but you know that's got morava the murabaha swallow, but Maura behind is one they can be on what condition you have got the item. Others you've been meaning it I got a computer I brought in the classroom. Now you want to I don't have any computer and I said to you that I've got a computer and buy for me and I got only then I took out from you and go and buy is not

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murabaha means you already have got a computer you have already paid the price you know the class you know the profit What are you going to make? When you sell to me if you don't have something you never can never can happen on something it does not exist you must own it.

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Understand this properly This is Lamar in Morningside finest morava us basically just like my wife, right don't buy any car for you by basically till you go and buying shoes and visiting Moreover,

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it is cheating it is an all for high agree that if one did not have bought the item, he is not allowed to sit down with the input and the content will be cancelled if he did not own and if you choose it also consider if it actually lied about the cost that Ahsoka said that all seems to be very nice look at that business. It was just more clear to everybody. That's called murabaha.

00:32:37--> 00:33:23

Then other thing, Islami rebar, rebar is basically in the center is it sucking the blood off poor people. Somebody's dying, dying of hunger. Instead of helping the person you want to actually dying him. We want to kill him before the death there was a rebel Islamic Islam did not allow Reba Reba in Islam is worse than Xena adultery worse than many military really revise such a sinful thing. Not only river any doubt of revival Muhammad from when I come later on revived explain to you that what revive and how many others have been made haram they don't have river but there's doubt of the river river is such a such a sinful act in the quran quran never just about anything, any crime that it

00:33:23--> 00:34:06

was done messenger except Riba or are said that if people do river further ado, behead a big metal live or a suit he then declare a war against them for a mandala messenger river is something Islam had a no compromise you know there are things that are haram but no doubt doubt that Hara for example. You know, that meant for lack of impurity, if you're impure is not allowed him to to not allow Islam you cannot pray with impurity at the cloth, but not out of impurity. He was thinking that oh I passed by the House of Shahrukh Khan and water were dropping from the house and fell out of my growth would be this water impure because he makes urine so can I pray is no No, no, no good.

00:34:06--> 00:34:41

You are you can pray doubt did not make any doubt did not make you to understand proper everything your unless you prove it in pure doubt that not make anything if it is and then God doubt maybe I'll go to Islam as a No Don't worry, you have unless you prove that you don't have to doubt or not make or break your rules. Except in River. River is a thing where doubt really mixed in not only river doubt of the river, it is so dangerous to even get out of the river can make to them lending money to your brother.

00:34:42--> 00:34:59

Then on that you take money, profit interest is never never allowed. You should be sadaqa it should. You should do lend the money, but lending money and I'm taking rent on the one that allows rent on the money is never never allowed to impossible for Islam.

00:35:00--> 00:35:42

motivating people to be so mean so low to an inhuman society always it is a very bad always bad thing that you are to you you know somebody somebody borrow money and you take interest from debt it always had a mean character in there because in Voodoo the hard food hurry is so bad another dilemma is Riba is a very very bad word even in English and we read the literature earlier you can see that you know we only Jews are associated with to take an interest nobody is what they realize these these people who take security realize really that everybody you know, humiliates us and we assume in the society listen be clever do something take money and also remain white nobody can say

00:35:42--> 00:36:12

anything to you know that towards the guard the banking system. So now for Africa You are my neighbor you are in need you better want to buy your daughter you have no money you come to me and I want to borrow money okay take it but give me more profit you will hit me that this my friend My neighbor instead of helping him difficulty he basically sucking my breath more and more the heter will be there what banking the banking every I have more money banks ask me Okay, put your money here review profit

00:36:13--> 00:36:19

then you are my neighbor you need more money you need to borrow money don't have to come to buy now we are thrilling

00:36:20--> 00:36:59

it's in my money which help bring you to your money but if I give you directly to me now we both go to my bank I get profit from there and you pay them that money comes to me so can you know friendly money banking system basically hasn't made usually acceptable in the society? It basically the banking system basically either in a making the interest normal normalization of the interest in the society that basically no usually because the normal society that's what banks is what banking system is under. So this is the basic concept I wanted to make clear to you because these words will be used very often. Now we are coming

00:37:02--> 00:37:05

hi everybody copy this. Okay, so now I'm going to

00:37:06--> 00:37:19

carry on I'm gonna follow a step by step I want the concept to come to your mind is that possible? Because in this work, there are actually people who had the idea of Islamic Finance and many many of them are

00:37:22--> 00:37:23

now less than

00:37:25--> 00:37:26

one what

00:37:28--> 00:37:34

is Islamic Finance? And even before that, really understand what is the secular economics secular Finance?

00:37:35--> 00:37:43

The first thing with Allah the creator Alize has two attributes. What have two attributes are from Allah tada

00:37:44--> 00:38:15

you know, before understanding this thing, you know, one thing make very clear that Islam is not that identity. Islam really, Islam is a function. What is what a cover up? It's not, it's another form of magnetism is split motors. So try to understand that if you just name someone Muhammad, does that make you Muslim? The simple thing like that, unless somebody believes in affordable if an unbeliever he loves Muhammad, and of course he said Mohammed is a Muslim because

00:38:16--> 00:38:21

everybody knows the names that will not emit something Islamic not only Iran to Islam is what function

00:38:22--> 00:39:06

problem really happening in modern society is that many many things in Islam people want to Islamization what they want to make the Islamic with how to deal people want an Islam without the to Islam without him does not exist meaning it take out the and just make it like I told you you go to prayer and Mr. saramonic on the way over Muslim because he will sell 100 loaves inshallah Allah we are Muslim that Islam does not exist really is an arm of identity in addition our persona Islam is an arm with a function to try to under this is a good meaning it we don't want to miss now without D is an arm it's an arm with the dean not with how do you take a gene from Islam is not Islam. Is it

00:39:06--> 00:39:12

clear to everybody? Now coming to that I want to make very clear to Islam of the deen is allowed with the dean what it means

00:39:14--> 00:39:25

Allah, how the two men attributes in the Quran. Answer Man every every Muslim knows one on one is aleyda What are romney's or run Musa? He is the Creator

00:39:26--> 00:39:30

is a creator most recently he created Muslims and Muslim both

00:39:31--> 00:39:59

were when he created that he sustained someone you know, I guess appropriate to Moses only on everybody. He's around. He's polite to everybody. He looks after everybody is around in this matter. believers and unbelievers don't matter. He looks after everybody like a father. A father has many children. He looks after all of them. Maybe some of the good obedient some of them don't obey but as a father duties look after him equally. He looks after all of them are less matter either either. Rather, he looks after everybody. He provides

00:40:00--> 00:40:00

to everybody

00:40:02--> 00:40:21

to what he said that and he said you know that you know he must have like you know he said I he said I said that I directed the whole universe for you eat and drink and enjoy the life no you know but what he said also that you know eat and drink it but what shocked me over him Thank you me that he took it from me recognize me so he said no to was

00:40:23--> 00:41:09

the spoon he gave you all the good things to you thank him He also said to the messenger Yeah, oh my son just eat in a good but at the same time do good deeds. He said to the believers kuruma Ivana community no Buddha, no Pure Food, but thank Allah if you so you can see to Allah subhanaw taala. Now believers are believers are those who believe in Allah is an Adela alumnus that is not to miss, he provides us and then we thank him then who are shipping with ob we listen to him that will deliver to the believer, Muslim human being what actually he does it. He believes Allah eyes Allah, Allah both. If you believe in Allah, Robert, but not ala, he's not a Muslim human being Shut up.

00:41:11--> 00:41:11


00:41:12--> 00:41:56

up, shut down system to a lower line. Give me a long life and this and that. He asked him he depends on he knows he cannot be beaten sob did not listen to his shutdown either. There was nothing to profit and that doesn't mean that not a Behringer coffee mill did not believe as Ella nakshatra was coffee. He believes Allah, but not Adela. So, human Muslim human, he believes in both choose to believe Allah, Allah, that Allah all the Peruvian does to me from him who made me He also believe in him. I Mahmoud, he worships Him. And then second thing is that this human being was living his life and he knows that Allah has given us Is this a special unit by law. But it's not my purpose not to

00:41:56--> 00:42:29

live in this world. This it just means it's the mystery of my part of the world. To obey, my lord believes him and the paradise to this human being breaks this world It means means to Alibaba, everything here to help you to do Alibaba in the space, the provision, the food, the money, the time, every single day work to help you to grow this human being his purpose, to please his Lord, not to credential to please, please Allah for now. But this human being is very tired in the night very short in the summer.

00:42:30--> 00:43:06

He wants to sleep. He want to if you want to please and said we can sleep, but at four o'clock in the poor confer prayer. Now he had a choice to please Allah to please himself. If he presents the ministry, if it was Allah He will wake up and make a struggle to make effort to go and pray in the most. This human being does not police himself. He makes effort to please Allah when he please Allah, he also frees himself no doubt really. People don't understand it. Those who go would sacrifice their sleep and go to praying in the mosque. They get more happiness than those those people don't know really people fast in the month of Ramadan to pray the Lord they enjoy it more

00:43:06--> 00:43:29

than those who keep eating but this is a different type and much more in a testament more in love anyway this human being he did not look at himself he only what pleases Lord when he is Lord is loaded from him Don't worry make sacrifice wake up in the morning so fast in Ramadan I will view Paradise is not a paradise this human being was fat Paradise is a career

00:43:31--> 00:44:08

now other human being what he does he only know that either created Food Committee this committee that committee or such nice work you know like the middle like you know the enemy support to Meadow they think you know, the working out is a nice word middle class, this human being none of us in human use the whole universe either metal does Eat Drink, oh nice enjoy the life case paperwork to police itself. Just drinking isn't enough. You know, whatever, enjoy, and he met a new enjoyment every time new drivers keep inventing all the time. Because his purpose is only rewarding this one nothing. He's not thinking about anyone.

00:44:09--> 00:44:13

Okay, this human being let me explain it further. because technically,

00:44:20--> 00:44:54

this human being he wants to enjoy more and more in life, you know, more money to for this purpose. he mentored many, many sciences, like natural sciences, you know, human sciences, like an industrial science and medicine all dissing The purpose of the sciences, what? To get maximum enjoyment and what if your willingness and you know, to become healthy because you're not held to help enjoy the life. So, in fact, the purpose of this purpose in many, many, many science and natural you know, natural sciences and Human Sciences, because the lack of one of the arguments economics and economics called the finest to Hindi medicine, you know, this human being, you know, this is the way

00:44:55--> 00:44:59

to serve Him. They say he wants to fill in drums in this world for this purpose hearing this science

00:45:01--> 00:45:23

Now this, this human being when he mentored this science, tell me what was he in his mind, to serve this human being not that human beings Keep in mind, this science that will be mentored by this human being, or not to serve a diverse human being, it is this, that you can see all the sciences that are widely oriented, the direction not only hereafter.

00:45:25--> 00:45:45

When you read economics, the teacher paradise, not like that, the whole thing because it is basically oriented to this whole direction to this world. Many Muslims do big mistake here, and actually Islamic finance people have been big, I'll come to the electronic pistol to you, they have done a big mistake in this matter, they think these sciences, they are value neutral, the positive sciences,

00:45:47--> 00:46:23

they are meant for an abstract human being human being which has no value not truly, if they have been metaphoric human being which has a value, which is occasionally medieval, non Muslim, these sciences, they are not very neutral, they are not positive, sad, they have their own values, if you take them with the spirit and form, you know, they are, they are basically create a conflict between you and your religion, it not so easy try to understand properly, you cannot take them as they are, if you take them without understand history, you will fail really, if you think they just politicize it and there's no harm is economic just human thing, you know nothing to do with it in Islam or

00:46:24--> 00:46:59

anything like that, you will have problem. But once you know economics actually have been invented, made by you know, Islam, Muslim human being whose purpose to enjoy this life, when I benefit from that, I should be careful, because there are so many elements in the in this whole thing, which basically have a limit for this human being with no contradiction, the belief and the life of the other human being the content of them and I'll come to that later on. And you can see very clearly, but first Keep in mind, that all the sun human human sciences, even natural Santa Ana discuss that one human sciences when they have been developed in the West, they have been developed in the West

00:47:00--> 00:47:18

keeping in mind this human being the human being whose purpose is to believe himself the human being who wants his reward in this world it is keeping that human being in mind meaning this sign said they are not meant for an abstract human being and then you can apply to any human being

00:47:19--> 00:47:23

if you want to put whatever could be left applaud you Mary Croton inside

00:47:25--> 00:47:33

some time you can make cloth a neutral cloth that's political this cloth you know this size benefit to Muslim Namsun and then nothing no value attached to that

00:47:34--> 00:48:15

this is not the whole sensor sciences or natural sciences are not meant not made for an abstract human being is a trading they are not American they're not they're not keeping in mind an abstract you want to be which has no value. This sign said I've been devastated by and for certain human being they are not afraid they basically have certain values and in America to serve that value and the value is to believe in myself my purpose in my life is to please myself my purpose in my life is to get rewarded this one too when they made the sciences this sciences go around it today or not is it clear to everybody left in a house when I build a house to sell to the people

00:48:16--> 00:48:28

there are certain values but I'll set passwords you can make household assets which are human which has no value so you know you Muslim can buy them still can buy

00:48:29--> 00:48:38

two houses can be far an abstract human being doing ourselves the problem I was in South Africa so they were the ultimate outcome you know Islamic houses

00:48:39--> 00:49:01

is like to see how the people make money that gives him Islamic houses if you live description that you know in that house there will be physically you have to do how to do it okay Islamic house to even now houses had become you know, not productive they are not they have value, the houses are not very neutral. Now you have to buy Muslim houses, you can't buy normal singles. Until now, we used to think houses are just the

00:49:02--> 00:49:43

neuter houses don't have any value attached to the houses or like for offsets you want to be any human being can buy. But anyway houses are different metal are like you know, fruits, I selling mango, these mangoes are far and abstract you want to be meaning it for a believer on both, but human sciences, they are not for a statue maybe to understand if you have read it I have studied economics and sociology. So I know properly from the beginning to the end of how to discuss, discuss keeping in mind and human being who basically only wants to leave himself in this life. He had nothing to do that will keep in mind. Now a human being would want to please his Lord and want to

00:49:43--> 00:49:58

work for paradise. He wants to use them. If you want to use them, you can use them. Well if you use them either there you go to harden yourself. You become like that human being. You have to be careful they are not aware you Newton is it clear to everybody, that it must be understood properly.

00:50:04--> 00:50:38

If you notice things, it will help you for a minute in the society, but many military you, you can come careful, you know, really, things don't are not positive, they're not very neutral things, people have to be careful more and more. When you buy something, when you do something, when you study something will learn something, you become more more careful. They're not you know, when you but many Muslims don't understand this theory. And actually, even Islamic finance people wouldn't have written a book. And I know that I don't want to mention the name. I don't like to brag, but people necessary. But I'm really shocked that they're dressed up and jurist, but they're taken all

00:50:38--> 00:50:46

the is lifestyle, economics, a definition of the IVR, in inverted by these people, without ever thinking really, that is fit here or not.

00:50:48--> 00:50:49


00:50:50--> 00:51:07

you know, this is one important thing I wanted to teach you, because it really will make your money very clearly that the sign said in this world, they are not not very free. They are not political, they are not very neutral. They have gotten very used to that it does not mean I'm going to farm it make me sad.

00:51:08--> 00:51:50

I encourage you to it's really ugly, even if people have to take a loan. It's still like a fatwa that even if you don't have money, and you have to take a loan study, I don't think I'll get there. But I want to warn tell you properly. That was there is a lot of them. But knowingly none of them, study them use them, but knowingly don't think they are politicized. They are not very neutral, they have got a value attached to those signs. Like if you learn a foreign from me, you can't say it, it just lost their value at a time when I teach Islamic law, the value, if no Muslim does, he will be influenced in him, it helps us change. He cannot come with it. Just notice it does roll the metal a

00:51:50--> 00:52:22

lot promising new Islamic Lord, taught by Muslim they have values. They're not very neutral. This sign said developed by the people don't believe hereafter don't believe they are not very neutral, they have got their own value that they are serving. When they when the workers sociology and new ideas come, they come creeping this you want to remind the human being that they know not every other human being other human being has to struggle to use them, but for their own human being. They are the main sciences, you know that how you know things work.

00:52:23--> 00:52:55

Now really, Islam does not want really people to come to and become this human being that not to understand. It does not mean that you cannot live with them. Islam, Allah Islam, you've got to live with anybody, all human. You know, my never can be Muslim, Christian Jew, whatever Islam. But Islam makes very clear. Don't be like that. If you become like that you become ungrateful to your Lord. You know, use eat and drink it but do good deals in racquetball says you know, very nicely nice bow to protect worship.

00:52:57--> 00:53:02

He said, up Neeraj, a Papa Johnny tomahto, j, mu Luke

00:53:03--> 00:53:09

up ilasik on upasana dermatology, mu, or Panasonic to High Tech Data data.

00:53:10--> 00:53:25

If you don't know your provider, your Lord or who provides you if not know Him, then you need to come to the things you know work for them, they give you some money like bidding our Python if you know him, then the kings and the master they work they become joseline

00:53:26--> 00:54:05

to different concept really, Allah wants you to make your master and they want you to make a slave when you keep bidding. And you can see clearly like a Pakistan in existence, Pakistan motor 6070 years. But what happens in never thought really, to turn to the Lord, to ask him to turn the around all the time really keep digging from somewhere else, all the science ever. Until now, nothing more than nobody. And when you follow someone you never imagine will never think you refer to him. If I remember leader and you follow me You already be behind me that home follow follow us and never can become like a mom. If you follow the recipe. You have to be in the back. You have to be in behind

00:54:05--> 00:54:41

that house. Islam wants to make between Islam wants to make the money that doesn't sell our computer. But understand properly these two concepts create two different human beings. one human being who come frees himself from all the problem and because left with Master, the other human being does not know his master, he makes himself out of everybody, every single moment. I think if I lose my money, if I spent five bucks if I get to this poor person, then I lose five pounds all the time. What is even to help you I was in Oxford, very often. My colleagues that are Muslim, and we used to invite them to house

00:54:43--> 00:54:44

but they they never invited

00:54:46--> 00:54:59

because to them to spend them. And once I remember When was the first time in this country to one of my colleagues in Oxford, he invited us for a dinner some cinnamon also and that the I felt it couldn't go to my other Muslim

00:55:00--> 00:55:38

Of course, they came back I asked him, How are they doing? So they are they're fine. But everybody had to pay himself why he might have said this how things are invited in job but everybody to pay this until you can not imagine in proper Muslim contest CUT TO THEM TO SPEND 500 on you is the problem. Well, how can they spend what what are they going to get your disciplinary view become really worried every single moment, when you become Muslim, you can see Muslim society, how corrupt they are, is still gender, Pakistan, which I haven't written so much. But if you go to Pakistan, you will be amazed at how jealous people are, if you one of my dear friend, he said once he was robbed

00:55:38--> 00:56:14

with Pakistan, and how Muslims helped him, he was so much impressed. So don't without I use it every Muslim country in the world. But it's still really odd. In some countries, they are much, much better in this matter. Because you see, number one, you can see and I'm like go to poorest place, you can see the children that taking something to, to the most to the neighbors, the mother, something she did not want to be alone, she said to her child, or take this bit to the mosque, and also to poor neighbors, they give in even if they don't have something, this is pretty you don't find every one of my friend in Oxford, he got married, and he had to buy a house. And he was

00:56:14--> 00:56:52

struggling to have more of it and his father was still a priest in the church. So I said to him what your problem is your father can make him speak in the most that my son was to buy a house and we don't have money can you lend money and when he came to he said, I can't forget this thing in this country, whether my fellow priests or not, nobody can give us any money without profit, not impossible, lending money without that if this concept does not exist anymore, here, it does not exist. This actually what happens to you become so mean really, and love other money because so deep in the heart basically become very, very low human being that person up near rasik on a patch on a

00:56:52--> 00:56:56

tomato j mu, our journey to high theory.

00:56:58--> 00:57:21

If you don't know your your Creator, your master your provider, then you need kings, you'd come need to vivid him. If we know him, then the masters of the world and rulers they become your slave. No, this isn't a master make you hire anyway, is that keep in mind that this thing basically is not a very Newton. This sign said they have got their own way. Do you

00:57:24--> 00:58:06

know what the value is? I'll teach you a few things which will help you to understand modern finance as well. Firstly, what this this human being actually what is this human being that this science that keep in mind when they develop sociology, economics, which human being that keep in mind, first quality of this human being? That he is somewhat, you know, somewhat bourassa Portola will allow some of the universe someone who's somewhat cleaner who basically means a bigger rock in the sea to when people used to go on the ships. So these are the standard that they don't get anything but the shifts people tie them with these robots in order

00:58:22--> 00:58:36

Yeah, so in the in the sea, you got bigger rocket, rocket independent, but shifts it they need to tie that otherwise, you know, you know what some of them is some of them satellite some of that last summer music. I learned that not need anyone and everybody needs him.

00:58:38--> 00:58:47

My name is Peter, not real people. And I'm here, Hamid II have somebody this summer. This human being basically wants to be someone

00:58:48--> 00:59:14

that would be meaning it I don't need anybody becoming as much as possible. don't depend on the neighbor. don't depend on the father don't depend the mother don't depend the creator don't analogy became independent. It is like it doesn't exist. In this world. This does not exist really when people say that if I want to become independent individual to go towards our allies. That I would say to really look why because Can you be individual?

00:59:15--> 00:59:29

You never come into view. You always will be divisible. Do you know what difference in division between the individual individual is divisible basically is when we divided. A mother if her son is loved, can you tell her that you know your individual eat and drink

00:59:30--> 00:59:59

she will not achieve dividuals she cannot eat without sun unless he can see how she can enjoy the life. A positive for her. You know and my family said that you know when I used to travel, come to my home until I raised my mother will not eat for one or two do anything she can she just waiting to visiting. If she's individual, why she cannot eat. She the visual to say that there are individual it is biggest life and and then people teach in the school first day you are independent.

01:00:00--> 01:00:13

Under light, are you independent, you depend on every single thing that you have, when you are born depend on your mother or your mother depend on the whole universe, you depend on the water, you depend on the air, you depend on everything, one of the minister in

01:00:14--> 01:00:43

my state in India you tutor Pradesh, you know, he became electrified and he became minister. So, he said, we have so much water in this state, within the first 500 years, under drought immediately after that, and everyone start crying, this how independent they are, you know, this, they have to stand independently like this human being basically from the beginning lamsa that he the individual, independent, taught in the school taught in the ust taught everywhere, telling me Can this unit we

01:00:45--> 01:00:45


01:00:46--> 01:01:09

taught you depend on your Lord, You are divisible you share with everybody you are related to your mother your rejecting your father you detect to your brother sister your whole society, you have friends in your division that human being loves his division, this human being versus individual that human being learns that he the defendant is the person Lord has already suffered this human being does independent

01:01:10--> 01:01:14

This is the first thing we're they're both really are very different to each other.

01:01:17--> 01:01:20

Is it clear a guide to this human being

01:01:22--> 01:01:51

that of all the values in this world everything that like way of life, all of them really whether you're with the right hand or left hand whether you do this that everything equal, what makes something preferable your will, you will decide neutral, if what will be the left hand that's the story if you choose that no value all the values are equal in the world, it is you who decide your will mix if you prefer what other nothing else all the you know

01:01:53--> 01:02:35

and is a clear second thing The first thing is about is human being individual and his independent second about this human being is that he thinks all the values in the world that nobody has anything the you know the major mess for any way of life with not even the values existed exactly your will your will mix by the day you decide, you know if greed is the best thing be greedy, if jealousy can help you be just be jealous. If hating somebody can help you hit if anger can help you be angry. If you you know if you basically hit someone and hitting can Good for you. It basically values are what you will wear does not exist anywhere. That is so difficult. How do we really people really people

01:02:35--> 01:03:14

think real people can fun, you know, like people drink cuz the thing is, is that life, if drinking can make me feel better, I should do if smoking can make you better if I smoke, the other human being does not have anger, he does not think think that he will admit bit misled you He knows, you know values already existed by his Lord, he has followed his Lord said don't drink then whether drinking is good or not doesn't matter. I felt that when you hit hit, Lord said don't smoke, then I have not to smoke, maybe smoking Can people think a bit fluffy that is when you smoke you will become in a different world by no he did not want to follow that he wanted to follow many of the few

01:03:14--> 01:03:27

things and this thing I want to make very clear to difference between both human being Muslim human being and non Muslim human being it is not only going to help you in Islamic Finance, it is going to help you in the whole life inshallah, by Stop it, Erica.

01:03:28--> 01:03:29

And if you have any question please ask.

01:03:33--> 01:04:11

In a metaphor to understand particularly because my my rhythm Teacher, what teacher the teachers have to explain I'm not a parasite. Nearly people want to do their say and you just follow them blindly. So I'm not I'm not sure I'm a teacher. They just want to make the people to think you know, receive knowledge knowingly and with understanding and thinking properly, then you need to teach and when you teach, then you have full responsibility. You can't say why learn from shocker No, now you're teaching you're responsible to do whatever you need to understand every concept thing and once you understand then the appeal whether you agree or not agree, I have not come here to impose

01:04:11--> 01:04:25

my idea I only happen with a teacher teaching means I want to explain the concept properly. So you should really ask questions you should discuss with me should differ with me if you agree or disagree if that are accessing your foot right because that's how I met you. Okay.

01:04:26--> 01:04:57

Shake in Riga Salam Alaikum. In regard to your previous definition of solemn in regard to a former by by giving the advanced money for the crop to to get the CCW safe is basmati rice something like that, but what about as a term through natural causes, the plot of the crop destroy or as a fruit, drought flood? What will happen to the one who pays the money

01:05:00--> 01:05:39

You know, whenever you ask anybody give you no money in the business then until to deliver you are not responsible for 35 buy from your computer and you say okay, I'm going to deliver I'll before delivered to my house it was stolen from your house you credit money stolen? I'm not a sponsor, you are responsible. This thing will happen the life that that vitaclay I'm kept to that anyway, in the salon, it you never can make any business risk free. Because people have cooked us in Lhasa hautala any attempt to make a business with risk free? Is it because a non Islamic debt or the major problem with life finance now is because they want to make a business risk. And he said I've never accept

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any business risk free people do and let us in the circle, if possible, even life really, if I can die, Can Can you get dirty? Can you risk business risk free in that Islam it impossible never can happen. So in that case, the farmer will have to return the money back to the bank, but certainly Islam has got all the probes in mind and you know, sometimes where people did not have money and you know, now it's a big loss. That's why I say Islam, you know, there's so many ways

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in Islamic Cooperation, meaning it then the state will help the person or the rich people will help the person is in people see what I say My my, my friend, my neighbor farmer, he has almost lost he had no money he has children and I money I help him I lend money

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to him based on that idea and that's what I want you to do. So you know try to understand properly his alarm never makes any business risk free because the purpose that you do as best as possible then don't trust in what you do trust in Allah subhanaw taala

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that any attempt any attempt to make a business risk free it makes it non Islamic. That's one of the important conduct equality of Islam. They want to make it risk free and Islam never once got this query it cousin Hara Nam Islamic simpleton when a risk when in a business in any any asaurus comes ashore assumption that you have no risk it certainly missed the entire business. And Could you briefly go over murabaha again you have to murabaha basic letter understand both murabaha Antonia

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I mentioned to you this example I have enough for it me and my neighbor has access to computers and I trusted him and you know he's very good person my friend I bought from him the computer and I can't do the classroom and you liked it and you can sit functions nicely and you know that I you know I bought it and I use it for what it must be very good to you understood

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you asked me where to buy I said I bought in Oxford you said what price I say 500 pounds so you said to me that in for me to go to Oxford and also to buy from some trustworthy reliable not very possible really and you already have bought and you know this thing if I can buy from you that two ways for me to sell the Discover two one is Tony Tony I'd love to hear you my friend anyway. And I bought my neighbor your ticket on the on the cusp an alibi for me to cost me 500 pounds and then you know to for transport from the shop to my house It cost me five five or more to 505 pounds to give me I'm taking

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another way you said to me no take some profit is okay to 500 into five pounds no cost and give me five pounds more 10 pounds more 20 pounds more are we agree this murabaha I got some profit, it is not my business, but it is also helping really helping the people. So, this this is based on honestly this correctly by Bill among the Amana means that I should be honest in the that I bought this one on this price discuss if any dishonesty comes in December it becomes integrated, no more I should have bought already then I sell to if I do not buy and I just want to make a business I have gotten bought this all live will make it invalid. murabaha is when I already have acquired an item

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where the price no the cost properly and I tell you the cost and price properly and then I tend to the profit. That's

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that's allowed. Typically, you give this customer in mind that all the contracts matter you because these are the tools which are used in models. My fun I'll tell you later on. They use the word but they don't use this bit. And worse or not. What do you say mudaraba but not modaraba you know for

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telling me really if I sell you honey, and I give you the word honey pen what honey curry?

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There's a Korean War Honey, I said with our honey.

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You're exactly actually in the real honey. Natalie, What honey? Do you want to send you the word? And actually I know I actually I wanted people

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to what actually happens people contract on the paper more

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But people actually who delivering in the banking they have no idea modaraba basically both none is wrong is like finest both are built by the same people in the same manner. And I press it to add the paper is about yeah but what a modaraba by reality what would our delivery same thing like anybody else in the paper you've got the word murabaha and the reality you have your basically your contagiosum like anybody else only have got the word if you believe that word honey can kill you fine. But we know what's what's what's actually our reference to reality. They refer to something what honey refers to honey, honey, honey, honey, honey, something else.

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Ready this this will come later on? Yeah.

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You mentioned that in Reba doubt makes it haram What did you mean by that? Yeah, this ugly very good question. But I will come because in that one horse session, I'm going to teach you about remote cut that vertically the whole prop The main thing that what problem in his life once I finally Reba, Reba, is there not only doubt or even revise there. So I'll come to that why revise what is rebound? What out of rebound Botha? Reba,

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Reba, Reba, the river, were Roberta Lieber river and lived out of the river, both are

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tied to the contract status, but also the time is

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late. Yeah. Could it be some I don't think murabaha Antonia by the Luna Hades, but they will by the token icon, but also modaraba I think he's listened to one but ties to the modaraba Milton,

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you know, business become bigger in Islam. You know, for 1000 years, Muslims were the basic leading people in the world that are considered to run the business is so rich in Islam, because they have been doing certainly that so many times. Maybe

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like Madonna Masako would have been double anyway. But many details, some of them are shattered.

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But those folks whose basically orientation is foreign soon.

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Now the facade their orientation is something else that they borrow from subjects to continue

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their occupy now this orientation is

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is it possible to be innovative and create a new methodology that's consistent with our values that has never been used before?

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There shouldn't be that one should be you know, when it's like finer skin, Western people become happy that New Relic the proper financial system, they were thinking now Muslims will make some contribution. I have read many, many articles they are to dismiss typically are laughing now. This is just our idea. You just don't know research that will call in Islam cerca de delahey. And this is telling her this, her this I read her this, you heard this. And then you still my husband and he said you to your hobbies. So his life is basically stolen finders. Not if they do research it and they in avoid this big thing. What is really needed contribution are mostly someone who can make the

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contribution because the one who got values, but most of us have become borrowers, to what he's saying is that I agree. But does that not exist in the world? Nothing existed. And I'll tell you early, how, how bad it is. People don't have time to do research, other people's research, this is still it, and then they change the format is that when the word Islamization comes, it always means an Islamic

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you have to make something Islamic God Islam is to make this Islamic. You know, do fresh research, introduce new values, new thing in the market, people love you. There's nothing like this. We're still people. You know whether they love Islam, but what are the matter for them, they do research, they do research, they make effort, alpha, they're human beings. They help the intimate thing with people for our human beings. We don't help it. We borrow for other human beings. We can't complain. They make if they do research in Oxford and Cambridge, really, there are people who don't take a riddle. They keep working, they enjoy life, their life married life is in problem. But they do

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research. They work hard. We Muslim our do is still there research, LSAT, Islamic, and I've met my research. I've seen many, many, many papers dealing with in Pakistan, published by big people, they are word by word translation of one of you know, second by second in so in other he did all the research and they just translated and published in Germany. So many is really honestly just cheating. And same thing people do for ammunition. they borrow so many I get an offer on the West Africa and they make Islamic This is you really let down.

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Islam because of

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this pyramid if I make effort