Shariah finance is a great idea. Unfortunately like all economic theories it's slave to Western economic ideas that are globally dominant.
Thanks professor Lewis for this full content information of islamic finance principles.I am Somali.
good summary…although i disagree with much of the products that have been labeled as Islamic.
What is the difference between paying rent and paying interest? They are one in the same, as far as I can see
WOW, I hear these rules and I have to say, I agree 1000%. I am doing my best for The Truth Movement to see and Understand all of this and be enlightened to the fact that this system helps to UNENSLAVE HUMANITY!
Islam is a Holistic religion, human needs, both spiritual and physical should be dealt as one unit.Islamic Banking, involves free trading and not monopolistic policies which combine with tech and machines creating unemployment.With free trade and easy small businesses opportunities, will make people independent and less dependent on financial institutions.
Thanks for the excellent lecture, Professor Lewis if this is Islamic Finance, please with the same objectivity look into the comprehensiveness of Islamic teachings.
Very interesting, thank you for this video! I learned a lot.
Thanks for sharing!
Professor Lewis thank you very much for your conference and your analyse for ISLAMIC BANKING.
Professor Lewis gives a very good overview and brief background of Islamic finance along with their potential benefits. However, he only compares the Islamic banking system to the U.S. financial system and only provides analogies in certain areas. He doesn't bring up and regulations such as Solvency II which have some similarities with Islamic banking in terms of goals of mitigating risk and which is arguably between Islamic banking and the U.S. system. He doesn't bring up mutual insurers which operate similarly to some Islamic financial institutions. He doesn't bring up how some of these developing Islamic countries have complex property rights issues which make the contract regulations a lot less powerful. He doesn't mention how much Islamic banking is integrated into the economy and to a point where we can question whether some of them are truly Islamic banks. Not bad but only the iceberg of a very complex institution.
Most populous Islamic country is Indonesia with more than 204 million Muslims not India.
Hi, guys!Please tell me when this lecture was held?
great lecture ,greed , misleading informations,speculation,poor governance , fiqh el mouamalt el malia ,is against all these in islam,many thanks for your objectivity in analysing the classic banking system , and it s faileure,the islamic financial transaction and the real economy work in peer. thank you
By far, the easiest-to-understand, well structured lecture on Islamic Finance I've found so far. Not to mention, a well-done explanation on the theoretical and practical issues. There's definitely more to Islamic Finance, but dear Sir, you hit the mark in compressing it all into 40 minutes. Many thanks for producing this video lecture!!
Indeed Sarah , to develop Islamic finance took a long time of hving 2 compete with the existing system & oppose the minds of Muslims in Islamic countries about their k'ledge in Islamic finance & still assume Islamic banking system is Riba system . In Malaysia there are efforts to improve the system from time to time . M'sia & Brunei hv implemented Shariah Compliance in Islamic banks,other Islamic countries hv achieved basic sharia . I already transfer my financing to KFH ( branch in M'sia)
I think it's not easy to develop Islamic finance
even in Indonesia, which is known as country with the largest Muslim population in the world, has a new Islamic bank in 1992 and then must wait for 10yrs later then came the government support in the form of legacy that permit banks to operate by the sharia system
although the current practice of many islamic banks still not pure sharia, but their effort to provide finance which avoid usury would deserve our appreciation and support
you are generalizing too much. the problem is that Islamic finance is not available for everyone who wants it. i live in america and it's very few banks do islamic banking and in very selective areas. another problem is that even in Islamic countries, Islamic banking is not totally islamic. it contains some aspect of pseudo-ribah.
Australian Centre for Islamic finance with all resources on Islamic finance in available at Auscif (dot) com
Unfortunately most Muslims know very little about Islamic Finance and Shariah compliant transactions. This also highlughts the ignorance amongst most Muslims with the interpretation of the Quran and Sunnah. This stems from the lack of Knowledge, education and just plain old poverty. Imran Hosein details the differences between Western and Islamic Banking. Please watch the link below.
Gold Dinar – Islam and Future of Money – Maulana Imran Hosein /watch?v=moQOFxMxTOM
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