I'm glad you enjoyed it and I guarantee they enjoyed having the conversation with you! As you can see it's very similar to ethical investing as well as making sure no one hoards all the wealth in society.

Very true !

MASHAALLAH Brother Would it be possible if you could do a video on Islamic mortgage?

@@saajiddaya2152 yes InshAllah I will as a lot of people are curious about it

wait all interest is haram why are you lying @@CertifiedTalks

Glad you found it useful and happy you want to learn more!

Thank you for the support!

Walakum salaam. I’m glad it helped! There’s a lot more but this is a good grounding for everyone to be familiar with. Yep it’s very new and I’ll definitely be making a video of how this industry developed over the past 50 years.

Glad you enjoyed it!

Jazakallah. I purposely didn't cover the details of the ratios and business screening in detail as it'd make the video too long and not remain and introduction video. InshAllah I will cover the ratios and why they're important in another video. Thank you for the support.

Thanks for that - I suspected if it was intentional.

Thank you and I will be making some soon! I felt this video was important to make before doing any on investing.

Walakum salaam. That’s a very valid point you make and I think true at the time of the video. However the rulings provided allow for less than 5% of revenue from impermissible activities and currently alcoholic drinks make up a tiny fraction of their revenue. If it increases past 5% then it will no longer be compliant as per the fatwa. Even if valid, they income does need to be purified every year

@@CertifiedTalks Thank your for the insightful response. Do you mind if I ask on what jurisprudence (math’hab) is the 5% ruling was based on? I’m assuming not all scholars would agree on that percentage, or any percentage of a margin of error. Jazak Allah khair!

Unfortunately not much to choose from when it comes to pension options. But I agree it's a good fund for a pension... very low diversification though as it's tech heavy

Thanks!

Looking forward to your videos!

Happy to help. People can invest in individual companies if they follow the shariah business and financial screening. However I know that can be a difficult and boring investigation to do of what is shariah compliant! I will be making videos soon of investment ideas.

Hello, thanks for mentioning that. Its important people always consider all the activities a company maybe involved in, not just the ones it's famous for. So it's good you're looking into that. I would have to look into this % of revenue generated from apple TV (unlike Netflix which is almost 100%). I will make a follow up video on the ratios soon.

And iTunes

Also Apple hoards a lot of money abroad, just waiting for tax policies to improve for them before bringing it into the US as profit.

Jazakallah for the support. There are some formal methods of learning, for example I'm qualified via IFQ qualification but it covers a lot of heavy technical things which most people will never come across. I think it's best to see what you're interested in and start from there by reading around those topics. I will try and share my knowledge as well as best as possible.

Thank you for the support. There is differing views. I've come across where imams have been asked this by the person doing it and since they're not involved in the final task, the job is allowed. Just like you can develop anything but you can't control what other people do afterwards. I'd suggest explaining to an imam the details of your role (you'll have to explain the details as he'd be unaware of the specifics).

Let me do some research

Good point. When money comes from activities which are not permissable, there is the degree to how much income it generated from this....I'm not making the requirements btw I'm merely commenting on the mainstream fatwa about the ratios etc. The main business of Netflix are tv shows whereas the main business by far for apple are their hardware products. In the future if apple tv grows as well as their apple pay (interest based business) business then it might begin to be questioned more.

@@CertifiedTalks Oh ok. Good to know it's about practical levels of nuance and not a matter of principles 👍. And what of where these products come from? Apple is known to employ cheap labour, sometimes even employing children to produce their hardware. And the components for the batteries mined from destitute people in Africa. And coke peddling disease as a refreshment. Where does it stop? Who gets to decide and on what grounds?

From an Islamic perspective none of those things are problematic. You can employ people for the lowest wages they will accept, you also have an obligation to share profits through charity. Children whose families can't afford for them not to work may be employed as long as they are having their needs met. The truly destitute need work to give them dignity and charity will be given from the profit. Coca Cola is a sugar rich caffeinated beverage, so as long as they are consumed as a treat in moderation they are halal. If you eat so much sugar you make yourself sick (diabetes, obesity, etc.) that is a problem, but it falls under personal responsibility or the responsibility of a guardian. Coke isn't an Islamic company, operating exclusively in Islamic countries so it's not a perfect fit, but if you are trying to be ethical from a Muslim point of view there are worse places to put your money. At the end of the day listen to the best advice you can find and then follow your gut. Basically the big idea is that as a Muslim it is permissible to invest your capital through shariah compliant financial instruments in ventures that are not themselves shariah compliant as long as they meet an acceptable ethical standard. It would be better to invest in shariah compliant institutions etc, but it's acceptable to meet the world part way as we work to change things like international finance which is obviously a huge problem.

Glad you found the video useful. What do you mean by eligible for financing?

Where did you get the slaves part from? Under strict Islamic rules you cannot benefit from someone else's misfortune. If there are circumstances where they can't repay then there has to come to some sort of agreement. Penalty payments are hence not allowed, although in practice banks do charge penalty payments but give this to charity.

@@CertifiedTalks so is the part on slaves wrong? I would like to know if this is so. But some websites said this. IF islamic banking really is better I will acknowledge its good points. Also this is questions and not meant to be combative. I do hope there is some better banking system now as the current European financial loan systems are quite terrible; in many cases they try to make the terms bad enough that someone will never escape them. I do hope I have not offended anyone, and to correct it if there is something wrong said.

I’m happy to learn if you have the sources you read it for. In an ideal Islamic transaction you essentially enter into a business agreement and share the risks and rewards. Conventional finance in some transactions have only one winner. I’m not saying current Islamic products are 100% Islamic in structure but they do aim to move away from conventional finance structures…..but is difficult to make it attractive, cheaper, innovative since the customer numbers are so small.

@@CertifiedTalks When I was in college a decade ago, I remember readings books in the libraries... here in the US where these real estate tycoons were teaching people to purposely put the mortgage rates at levels that were unsustainable and could let them steal the house back from you. That was regarding western mortgages. So if there really is better terms for a good alternative, that could be hopeful for people. And it could be that maybe you have a better position than you realize if the terms, pros, and cons both are better. If there is anything good or praiseworthy it should be appreciated in either system or country. But it also seems that it takes work to investigate anything because its hard to see if everything is really good. Thanks for the reply.

But that lower price was not part of the same contract right?

Bank could "discount" your price for early payment.

youre asking about student finance to fund your course for free? If youre a UK student, im planning to make a video about how to attend university without taking loans.

@@CertifiedTalks my question is like this: student finance accesses money from the government and pays for students courses at the university. also, s.f. offers a living allowance to students in form of a loan that will be repaid over the years. this loan is meant to help with possible loss of income if the student has to give up a job to have time to uni. this is a loan, but creates the conditions for a student to improve their life. thank you for your reply

You’re right, I think at one point they had more cash the US govt. There’s only so much they can spend money on tbh. They’re making billions every quarter but also creating new products every year instead of staying stagnant and collecting cash.

Sorry I’m unfamiliar with the South African options

I agree with that view. If you're using it for purely trading, then making money off money isn't allowed. Only you know yourself what your intention is with crypto. Do you buy because you're seeing a future use as money or trying to make some quick trades...

Salaam , thank you for the comments. The interaction with the ‘modern’ economy and how money is backed by riba is true. However, to survive we need to use this fiat money. To be involved in paying interest on credit cards for example because it’s part of the same fiat money is not needed to survive. Nor is paying money and interest to receive a mortgage. God knows our intentions to what we need and how involved we are. In an Islamic lending point of view, the motive would be to share the profits of a successful investment. Yes it’s unlikely you’ll end up with any billionaires in Islam but everyone will work together and people with utilise and benefit from the advantages eg intellect, strength, natural resources that God has given to them. I know this sounds idealistic and unrealistic but we’re also not existing in an Islamic environment. Do let me know if it hasn’t answered your question.

That's a very good question! I will be making a video on that topic but surprised someone actually asked about it!

😏

It's disguising interest as something else.

Have you got a specific example of a type of transaction?

I’ve worked in the financial industry and am a chartered accountant. This helps me understand financial concepts and how they’re utilised….this is definitely a good first step to start learning about Islamic finance because you then can understand what Islamic finance is trying to do and the financial terminologies. I also pursued the Islamic Finance Qualification which is offered by the CISI .it’s one of the main qualifications out there and widely recognised by the industry. Id start by utilising free resources on topics you’re interested about in as it can get expensive to do the course. I’m happy to do any videos you want to learn more about!

@@CertifiedTalks honestly would you be down to get on a call w me?

If there are contracts then the intention of Aqad (and wa'd) has already been made. It doesn't need to be specified.

Walakum salaam , no i do not.

What do you mean fishy?

Quran 5: 32

I’m working on my presentation! Sorry if you missed some points in the video but I’ll be making more on Islamic finance very soon .thank you for the support!

Very good point. It’s here the ratios come in of impermissible revenue.

Thanks for the support and you’re right 😅. I’m still getting use to making the vids!

slow down the playback speed...

@MartyFriedmanJr lol thanks man but to be fair I think I was speaking a little fast at the time!