In a Muslim Money Talk first I’m joined by my own brother! Ali Siddiqui, corporate lawyer, Kestrl’s head of legal and a student of Islamic Finance.

Ali gives an overview of Islamic Finance’s origins and how the industry operates despite a seemingly flawed ecosystem. He also goes into how Islamic Finance proved to be a route to combining his career with his faith.

This podcast is powered by Kestrl. Kestrl is an app that helps Muslim to grow their wealth without compromising their beliefs 

Kestrl - The Muslim Money App 

https://kestrl.io/

TIMESTAMPS: 

00:00 - Intro and guest’s background

02:45 – What is Islamic finance?

06:08 – Finance pre and post Islam 

09:14 – From Gold to Fiat 

12:42 – The Mudharaba model

15:11 - The Musharaka model

16:10 – Interest-free loans 

21:59: Credit sales 

25:46 – Islamic vs Conventional Mortgages

30:02 - Aligning faith and a career in law 

35:00 - Learning from the Ottomans and founding RFF

39:21 – Interest: why is it forbidden in Islam?

51:37 – Next steps for RIBA Free Foundation

54:53 – A hopeful future for Islamic Finance

1:00:24 - Why Muslims Cannot give up on this industry