Umer Suleman | Haram Investments, Conventional Mortgages & Wahed

Umer Suleman | Haram Investments, Conventional Mortgages & Wahed | BB #93

Рет қаралды 20,588

Күн бұрын

In this week’s episode of the Blood Brothers Podcast, Dilly and Aki Hussain speak with the Global Head of Risk and Sharia at Wahed Invest, Umer Suleiman. #Riba #Interest #Wahed
Timestamps:
0:00:00 - 0:02:48 - Intro
0:02:49 - 0:05:30 - Car insurance & claims
0:05:31 - 0:08:36 - Interest & Riba
0:08:36 - 0:09:48 - Car insurance
0:09:49 - 0:14:50 - Personal injury claims
0:14:51 - 0:22:18 - Car finance
0:22:19 - 0:26:47 - Forex
0:26:48 - 0:32:32 - Stocks & shares
0:32:33 - 0:36:36 - NFTs
0:36:37 - 0:42:20 - Cryptocurrency
0:42:21 - 0:48:32 - Conventional mortgage (Darul Harb)
0:48:33 - 0:56:03 - Conventional mortgage (European Fatwa Council
0:56:04 - 1:04:01 - ‘Halal’ mortgages
1:04:02 - 1:09:34 - Investments in Islam:
1:09:35 - 1:33:44 - Wahed Invest
1:33:45 - 1:36:00 - Closing
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Пікірлер: 77

@5Pillars Жыл бұрын

As salaamu alaykum brothers, sisters, friends and foes. Please like, share and comment on this video, as well as subscribing to the 5Pillars KZfaq channel! Jazakallah khayran.

@samiasalman5731 Жыл бұрын

Phenomenal , May Allah Bless All of You ❤

@5Pillars Жыл бұрын

@@samiasalman5731 ameen!

@AliaMahmud-qx4se Жыл бұрын

This is a fantastic panel discussion on a vital issue by someone whose very skilled in this space. What’s pathetic is Muslims hating on other muslims and spreading fake news. Wahed was never fined by the FCA. What sets this speaker apart is the fact he has experience in finance, economics and Islamic banking. Wahed is doing a fantastic job in the western world where Muslims who want to invest their savings in an islamic manner, have the opportunity to do so. This isn’t self promotion or marketing, it’s spreading awareness and articulated in a way everyone can understand and grasp the principles. May Allah bless these efforts and all those involved. Ameen.

@abdurrahmancassim831 Жыл бұрын

Listening to this from South Africa. Considering the severe warning from Allah to those who deal in Riba, this has got to be amongst the best podcast I've came across in years.

@asimiqbal2040 Жыл бұрын

If only companies like Wahed Invest would seek to invest in small businesses so people like ourselves don’t have to approach conventional banks.

@tawAAkul Жыл бұрын

The discussion about islamic mortgages shows how much this new product via Primary Finance is different. May Allah give them success.

@peacenow6618 Жыл бұрын

May Allah Accept your works, and make it a means of acceptance and Guidance for the Ummah!

@BJ-vh6yh Жыл бұрын

mashallah the podcast we didnt know we needed may Allah give yall barakah in your wealth and families ameen and protect yall from your foes ameen

@5Pillars Жыл бұрын

Ameen!

@a4482921 Жыл бұрын

MashaAllah, very enlightening 👍🏼

@mrstandupguy Жыл бұрын

Super beneficial Alhamdulillah 💯

@axis2312 Жыл бұрын

Hugely beneficial barakAllahufeekum

@motibilli Жыл бұрын

May Allah make things easy and protect you and your families. We need such strong brothers mashallah tabarkallah who speak the truth

@bilalabawi9064 Жыл бұрын

Mashallah amazing podcast about Islamic finance. Hopefully now I can use Wahed investing for my benefit.

@peacenow6618 Жыл бұрын

جزاک اللہ خیرا

@southsh55 7 ай бұрын

Great channel. I listened to the Nick Griffin podcast and now im watched all the videos, thanks.

@iftakharmohammed1942 Жыл бұрын

Thank you for the informative podcast🎉

@5Pillars Жыл бұрын

Barakallahu feek!

@tawAAkul Жыл бұрын

Brilliant podcast

@riazzaman20 Жыл бұрын

Love bro Umer, properly legend, may Allah bless him.

@brsrkr Жыл бұрын

29:51, Dilly asked the perfect question but didn't really follow up with the answer. The guest mentioned a hadith as justification for the 33% figure but if you look into the hadith, it's totally out of context and it's almost impossible to draw such a conclusion from it. They've taken a random figure from a random hadith and used it to justify up to 33% of interest bearing debt.

@unknownus3r Жыл бұрын

Have you actually asked any scholars about this or is this your own opinion that's it's "totally out of context"?

@brsrkr 9 ай бұрын

I've asked many scholars and all agree@@unknownus3r

@sammu Жыл бұрын

Wait, did I hear the brother okay when he said financing a car on interest with a company like Toyota Finance is totally okay, since it's owned entierly by Toyota? Whaaaaaat?!

@rdeen86 Жыл бұрын

On car insurance, he didn't answer the question of whether a monthly payment is a permissible position? He said pay the least towards car insurance. All insurance companies have an "interest" element clause for a pay monthly arrangement. Very interesting discussion - thank you.

@crazyfrogduo Жыл бұрын

its far cheaper to pay it on an annual position. if you pay monthly you're getting ripped off as the car insurance company hires a credit company to effectively give you a loan

@amurdera4409 Жыл бұрын

I won’t be cheeky i subscribed

@SilverLion567 Жыл бұрын

What about the environmental impact or injustices in the supply chain for instance a company is dumping waste into rivers or a company oppresses its workers and violates their rights like sweatshops. Does this make a company's stock impermissible?

@RR-vg5hg Жыл бұрын

How can the EU fatwa on house mortgage be valid for uk when councils by law must provide housing ? Or there’s all ways rent if you can afford it?

@harriskhan7671 Жыл бұрын

nice information on halal products

@humzaali3749 Жыл бұрын

The car financing has got me confused - surely he's not saying we can use a car manufacturers financing (that charges an interest for paying in installments) simply because the car manufacturers primary business is selling cars. Apologies brother's if I'm missing something obvious

@us1087 Жыл бұрын

Salaam @Humza - so Islamically its permissible to charge more for an item if paid over a period of time, if you own that item and are in the business of selling that item normally. So if a car company allows you to pay in installments and uses its own finance company that it wholly owns, its simply applying a higher profit rate (even if it calls it interest) it is just a mark up. This cant be done with 3rd party finance which is lending money for more money back. One is a trading mechanism, the other a financing mechanism.

@hbhb4595 Жыл бұрын

@@us1087 Assalamualaikum akhi, do you have any article or link regarding this issue i can read. BarakAllahufeek

@us1087 Жыл бұрын

@@hbhb4595 if you do a search under the Islamic Council of Europe we did a webinar on this with Sh Haitham Al Haddad and Sh Sajid Umar on Car Financing. Will try dig out the link

@M93839 Жыл бұрын

When will niyah actually be launched ? Wahed acquired them and then hasn't done much. We need an islamic current account.

@XYZ948a Жыл бұрын

I will be honest. I’ve never ever heard one conversion online with so called finance Islamic ppl who actually understand economics and finance. So they come out with their opinions unchallenged and the interviewers don’t have a clue so can’t challenge.

@gxqx797 Жыл бұрын

what don't you agree with in this video ?

@XYZ948a Жыл бұрын

@@gxqx797 no one goes in depth on riba. They use the words interest and usury interchangeably, for example. Many other issues but pointless to list

@gxqx797 Жыл бұрын

@@XYZ948a 'pointless to list'.. why? I'm trying to increase my knowledge on it. unless you can't be bothered going in depth with it... but then you're doing exactly what you're accusing these people are doing lol... its possible umar suleiman knows alot more than he discussed in this video but it's not for the layman muslim without a background in economics try and digest? anyway.. I'd appreciate a list but if you can't no problem.

@XYZ948a Жыл бұрын

@@gxqx797 buddy. Understand the first point first lol. Then worry about the rest. And telling me I’m doing the same as the podcast guys is silly. I haven’t been invited on as a financial expert lol

@gxqx797 Жыл бұрын

@@XYZ948a I already know the difference between them . I was keen to see what else you had for me. shame. anyway take care bro

@kamrannuyani6233 10 ай бұрын

How can pcp be halal. I am confused

@mohammadbilal8642 11 ай бұрын

18:25 so essentially are you saying PCP is halal?

@TheTruthSeekerMe Жыл бұрын

I really don’t see how there is a darura to get a mortgage in the west today? Id get it if it was about choosing between being homeless and getting a mortgage. But no you can rent everywhere in the west

@lilekoe1 Жыл бұрын

Just started, wonder when Aki will ask a question for 2 minutes when it could’ve taken 5 seconds 😂

@samiasalman5731 Жыл бұрын

❤

@NasirHussain-so1su Жыл бұрын

Does commenting help your metrics? If so I will be commenting alot more :)

@zakaria-c7s 10 ай бұрын

جيد

@RayOfHope8 Жыл бұрын

❤️❤️❤️🌹🌹🌹

@mohammedkamalhussain3694 Жыл бұрын

Fiat money is also commodities....it's promissory note, not real, but treated as real.

@sadeekahsaban162 Жыл бұрын

🇿🇦

@salehkhan2534 Жыл бұрын

Microsoft is selling military tech to USA army so I dont know how permissible it is 🤔

@TheTruthSeekerMe Жыл бұрын

Dilly disappoints for the 1st time since I’ve been watching him. Normally he will push back and ask hard questions but for some reason that was not the case in this podcast.

@protostar1000 11 ай бұрын

Yeah, he is wonderful in regular islamic topics. masha'Allah. But he disappointed in this episode. It felt like he did not do the necessary homework on finance!

@adusabubeker2611 11 ай бұрын

MOUMITA RAHMAN MY SPOUSE & CHILD'S GOOD AFTERNOON MY HEART BEATS

@maxali5215 Жыл бұрын

How is scalping haram. It’s the same as holding a crypto for 1yr then selling it. The intention is to make money With scalping, you buy and sell in a shorter time frame like within an hr or 5 mins What he is saying is making no sense. No difference between hodl and scalping if you are using the same technical techniques to make money

@danasiz9034 Жыл бұрын

Riba is haram. Stay away from it

@rg8128 Жыл бұрын

Buying a car over a time period is Halal but Buying a house with mortgage is haram?! What is this nonsense

@TheTruthSeekerMe Жыл бұрын

Both is haram. Simple

@us1087 Жыл бұрын

That's not what was said ;) - it's to do with the contracts. PCP vs mortgage. You have to look at where the increase on debt is created. PCP you can give the car back at the end of the term and pay no more money. You can't with a mortgage

@crazyfrogduo Жыл бұрын

Should have asked him about Wahed's fine by the FCA for financial misconduct. Very disappointing behaviour for an "Islamic" investment company

@fihsak Жыл бұрын

Clearly you didn't listen to the podcast, he did ask the question at 1:16:35. It was not an FCA fine for financial misconduct - you haven't even got the right country 😂