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Fintech Insider Podcast by 11:FS
856. Insights: How can Islamic finance serve Western markets?
May 16, 2024
Financial expert Rachel Pandyan and guests discuss Islamic finance in Western markets, including definitions, opportunities, Islamophobia impact, and fintech solutions. They explore growth potential, ethical banking, and challenges faced by Islamic and Western banks. The podcast also delves into inclusive financial products and the role of fintech in addressing financial exclusion.
47:02
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Quick takeaways
- Islamic finance principles focus on risk-sharing and productive value, shifting from exploitative transactions.
- Islamic banking promotes equitable engagements through participatory profit-sharing contracts.
Deep dives
Islamic Finance Principles and Sharia Compliance
Islamic finance principles extend beyond the prohibition of earning interest to include legitimate trade and investment. Certain activities are prohibited, such as those related to interest-generating industries. Islamic finance is based on risk-sharing, eliminating exploitative transactions, and avoiding speculation and uncertainty.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode