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Articles

Musings challenging our economic system

ISLAM | ECONOMICS | FINANCE | PHILOSOPHY
March 17, 2024

Sukuks, referred to as Islamic bonds, are a huge part of the global Islamic finance industry. Here I discuss the different types of sukuks and how they're not so different from conventional bonds.

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Sukuks are islamic bonds but are not truly islamic. Sukuks must be structured differently to adhere to true islamic finance and shariah principles. Most governments and companies issuing sukuks are using the same structures as conventional bonds to lure international investors in.
October 3, 2023

I dive into the transformative power of tokenization in the realm of Islamic finance. By integrating digital tokens, it opens new avenues for businesses to secure funding and presents unprecedented investment opportunities for Muslims worldwide.

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Tokenization can help unlock Islamic finance for all. By tokenizing real assets and using digital tokens, Muslim-owned businesses have more options to raise halal and shariah-compliant funding. There will be more halal and shariah-compliant investment opportunities for Muslims globally. Tokenization will revolutionize Islamic finance and will play an important role in modern Islamic finance.
September 17, 2023

Dissecting commercial banking to understand Islamic banking. Modern Islamic banking relies on a business model that isn't entirely in line with Islamic principles.

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Islamic banking is an oxymoron and paradox. Modern islamic banking and islamic finance relies on commercial activities used by secular commercial banks. This relies on a central bank, a money market system, fractional reserve banking and fiat money. All these elements are direct opposites to what real Islamic finance should be. We need to rethink Islamic banking and use a model based on mudarabah and musharakah where real investment and trade is happening and not using a murabahah model.