Several decades of experience in global markets. Currently serving as an executive at a large financial institution. Opinions are my own.
Joined July 2025
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The fatwa on political donations failed to address the core problem and ventured into a grey area. There are clear categories of zakat recipients that are much more effective in achieving the objectives they aim at.
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Let's stop pretending bitcoin will solve the economy for justice. People hoarded in the gold standard, they hoard now. Zakat is the solution, because it pegs the weaker to the stronger. That's why it's a pillar of islam.
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The reason people flee muslim countries swimming, is because the West is closer to islam than muslim countries. Islam isn't about repeating words or admonishing others, it's about being just.
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Algeria, Egypt, Pakistan, Lebanon... all have some of the worst inflation levels on the planet. So why is it that muslim countries all share that issue, despite having vastly different economical models?
Link Below
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So their savings were robbed by inflation, and as a result, many of these countries are heavily reliant on social welfare for their stability. The fact that islamic finance snake oil merchants claim the moral high grounds on this, is some audacity.
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If anything, it has made it even more unfair and exploitative for the people: while folks in Europe or the US have had access to inflation adjusted retirement plans, those in muslim countries have not.
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Muslim countries where islamic finance is prevalent have the worst inflation on the planet. islamic finance is by design a thin layer on top of the normal banking system. It cannot change the fact that fiat money can be printed into oblivion.
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Dey Ex Machina retweeted
Existence of a national anthem in every muslim country, including those applying Shariyah law, is evidence there is no Ijma on this today. Informal jurists not operating in legitimate legal frameworks seem to be compensating their lack of authority by overstating their claims.
Dey Ex Machina retweeted
Then why do every muslim on the planet have a national anthem. Are they all astray?.. It reminds me of the prohibition of pictures while the picture of the rulers were printed on every bank note in use. If everyone makes up a fatwa - then it's anarchy.
ou can see the same things now, where muslims will censor themselves against conventional finance, music, internet at some point, although none of it is legally banned... so even if leaders rectify, the hill is very steep, im not putting much hope in a muslim renaissance.
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fun fact. the ottomans never banned the printing press. muslims censored themselves out of caution, because fanatic scholars told them it was haram (they were scared it would corrupt the Quran). y
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The quote isn't from Ghazali, it's from the medieval catholic Church trying to convince followers to give up their wealth to priests. reddit confusion is on brand for islamic finance - a christic deviation from islam scamming muslims into burning their wealth
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Will start building a new space on reddit - r/Modernist_Muslims... "A place for Muslims looking to apply their Islamic faith to the modern world. Open to a wide range of opinions, grounded in reasoning from the revealed texts."
If anyone interested in helping build it - DM me.
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- This book, shows proofs that the blind prohibition of fiat interests is a Bid'a: drive.proton.me/urls/P54N7F7…
The only argument I see against any of the above is either an authority argument. Never a proof.
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- this ulema says a mortgage is not a loan, instead a tawakil hence it does not fall into riba: youtube.com/watch?v=wtY-CeSH…
- Al Azhar, the most prestigious center for Islamic learning in the Sunni Muslim world, says that interest bearing account are halal: sukuk.com/education/al-azhar…
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