The Lawyer Who Built UK Islamic Banking - And How He’s Fixing It | Mohammed Paracha - MMT Ep 31

Comments · 42

• TH

  @TheBlackGentlemanGeek · 1 year ago (edited) · pinned

  Love this podcast. Muslims really need to up their game when it comes to finance. All these back-and-forth in fatwas/rulings, being scared to move into financial discussion is getting annoying. Less talking more action should be our motto. Put a product out there and tweak it as you go along while testing the waters. We&apos;ve had Islamic rulings on finance for 1500 years and we&apos;re still to produce a global non-riba financial system for all muslims around the world to benefit, since. What a shame. C&apos;mon Muslims, take action. Build products, even if it&apos;s not perfect at the beginning. Put it out there make it perfect as time goes on. You&apos;ll never know if the product is bad or good if you&apos;re too scared to fail. May Allah help and guide us. Barakallahu feekum.<br><br>NB: And please, Muslims, stop with the moon-crescent, star, green domes, green colours and arabic words when you do your branding. It&apos;s very cringe. Make it universal. People will not use a product that is green, with a crescent on top of a dome, named Al-Khair.

  16

• AR

  @arsalanmustafa786 · 1 year ago (edited)

  Bro Paracha is honest and doesn’t claim to have “risk sharing”, “equity” In nester . He doesn’t hide the fact that he is focused on secured Islamic debt / fixed income. Would love to see him move to more equity like products

  10

• AZ

  @AzadBus-y9z · 1 year ago

  One of the best episodes I&apos;ve ever seen on YouTube

  1

• SY

  @syedmaricar9946 · 8 days ago

  Take even 250years to rise &nbsp;islamic finance.

• FA

  @faridnos · 1 year ago

  The issue is islamic banking use other’s money who doesnt use syariah (debt instead of equity) therefore its charging more than business rate

  1

• SI

  @simonbutler377 · 1 year ago (edited)

  we all know the problems with the mainstream banks, who owns them what they do with their funds. I think whether you beleive in riba or not, as a muslim you have a duty to keep your funds within the community so we grow welathier and established here. There is a group of people who have immense wealth who use their resources to dictate policy in this country by financing politicians and media. We need to be stronger financially through have our own successful financial institutions. Everyone should deposit a large amount of their funds to sharia complaint banks espeically Muslim owned banks.

  1

• MI

  @mikhailmateen585 · 1 year ago

  No different from high street bank just a different colour

  8

• NI

  @nikkion2140 · 1 year ago

  very helpful. how can one contact Mohammed Paracha if you are ant a Muslim

  1

• SH

  @shus5787 · 1 year ago

  What about Pfida?

• LU

  @lubnanazar7657 · 1 year ago

  Salam &nbsp;i m looking for a halal equity to help my son to buy his own house. Can you please help n advice. Jzk

• AL

  @allykhan8594 · 1 year ago

  Fraction Reserves! &nbsp;Banking License in u.k allows banks to create new money from debt! &nbsp;Halaal???

• RO

  @roberthannah7983 · 1 year ago (edited)

  Still, the borrower is using the lender&apos;s money to use/rent/acquire something, with a compensation to the lender based on rate, time and amount. And thats ok. So I dont see any advantage to Islamic finance except vague references to &quot;using the money in the community.&quot; Riba at the time of the prophet was exploitive redoubling of unpaid debt of impoverished debtors, like loan sharking. &nbsp;Modern interest is not riba.