Islamic finance
Currently following a session on Islamic finance given by Daud Vicary Abdullah from INCEIF; International Center for Education in Islamic Finance. Understanding what, how and where in Islamic Finance including Sharia’ in finance.
The reason I am following this session is that microStart also gives ‘halal microcredit or shariah conform microcredits. We received a fatwa for our microloans via Embassy of Egypt in Paris. However, there is so much more about Islamic finance than receiving a fatwa. Firstly, one has to understand the real economy meaning real jobs not virtual financial turnarounds. Secondly, Islam needs to be understood. Thirdly, the idea of risk sharing has to be comprehended and the mindset has to change.
A small note he mentioned which is food for thought trying to understand Islamic finance is about the Islamist index.
The Islamist Index is an analyses of all countries in the world to check how Islamic they are. The most Islamic country was New Zeeland. The first Islamic country on the list was Maleysia taking the 34th spot while Saoudi Arabia came 120th. Israel even came before Malaysia.
More to learn….