Why a rich Muslim is a better Muslim

[SecularNationalist]

Why we should be more focused on promoting and doing business than a typical job. Ummah brigade should listen to this before they call themselves superior than anyone else.

 

[Clutch]

Why we should be more focused on promoting and doing business than a typical job. Ummah brigade should listen to this before they call themselves superior than anyone else.

The social media has given a re-birth to the classic...
Pyramid schemes and/or Ponzi schemes....


With the new twist of "Influencers", "financial advisors", "entrepreneur"....


Lol

 

[-blitzkrieg-]

Why we should be more focused on promoting and doing business than a typical job. Ummah brigade should listen to this before they call themselves superior than anyone else.

a practicing muslim usually avoids riba ultimately distancing from business loans, stocks, funds, insurances, mortgages, education/car loans etc..Those providing alternatives are either unaffordable or returning little yield.
This is the biggest hurdle in thinking out of the box

 

[cocomo]

He reminds me of people like these.

 

[redtom]

It is better to say that Muslims who can make more Muslims rich are good Muslims. Muslims who make themselves rich but make other Muslims poor are not good Muslims.

 

[Goritoes]

Some of the Richest Muslims were among the poorest.

 

[TNT]

a practicing muslim usually avoids riba ultimately distancing from business loans, stocks, funds, insurances, mortgages, education/car loans etc..Those providing alternatives are either unaffordable or returning little yield.
This is the biggest hurdle in thinking out of the box

Its better to die of hunger than do ribba. There is nothing wrong in earning money if its halal. Also it all comes from Allah.

 

[-blitzkrieg-]

Its better to die of hunger than do ribba. There is nothing wrong in earning money if its halal. Also it all comes from Allah.

thats fine infact i totally agree with your point.. it actually seconds what i was trying to say.

 

[jaibi]

Unfortunately the disease of greed infects regardless of the faith one proports to carry. The pandemic has raised considerable financial anxiety in the populace and these people come out to prey on it.

Why we should be more focused on promoting and doing business than a typical job. Ummah brigade should listen to this before they call themselves superior than anyone else.

 

[CrazyZ]

a practicing muslim usually avoids riba ultimately distancing from business loans, stocks, funds, insurances, mortgages, education/car loans etc..Those providing alternatives are either unaffordable or returning little yield.
This is the biggest hurdle in thinking out of the box

Stocks are halal. I know good Muslims that have no choice but to accept taking out loans. Its almost impossible if you want to function in the modern world with out doing that.

Interest is only bad when charged in massive exploitive amounts, IMO. Usury rules in the Islamic world need to be defined this way. 2-3% is the ideal target interest rate for most central bankers..,..that's not usury in my personal definition.

 

[CrazyZ]

He never admired riba in his video or advocated get rich by riba or all other illicit means. Get rich by trade which is a Sunnah of our prophet (PBUH)

If you do any ethical business honestly that benefits anyone in the community not just the one person. If halal business makes someone rich because of his hard work or a good reputation what's wrong with that? And who will help those poor Muslims in need? Probably a rich Muslim who can pay a lot of zakat and donations.

Agree to disagree. He is talking a logical thing . And he is running his channel way before the pandemic.

What non sense. Interest of even a 0.1% is haram in Islam. Quran says "those who indulged in riba waged a war on Allah and his prophet (PBUH) .
It's absolutely possible to function without a riba even in this modern world. Open a current account in a bank instead of a savings one. Invest in stock growth and dividends instead of a interest bearing certificates or bonds. Start a small rent a car business and so on.

My wife argues the same points with me. I personally don't have debts and invest primarily in stocks and precious metals. Usury is up for interpretation, IMO.

Islamic world has historically been behind in economic growth partially do to backwards banking and investment notions on the ground. Reforms should be considered. If I were a debtor, I would love a 0% interest loan.....but then why would any one lend to me?

What results is a low level of investments and risk aversion in investors, banks and business inside Pakistan. Lack of domestic investment to expand of production and trade is why Pakistan has routinely had to go back to the IMF...since the low level domestic investment is solved by borrowing from abroad. This was mentioned in the OP vid. Either way your gonna pay interest. It can not be avoided in the modern world.

Pakistan recently issued green bonds in western countries to fund dam projects....$500 million worth. This tiny sum could easily be raised domestically if Pakistan's financial sector and thinking was more modern.

 

[SecularNationalist]

My wife argues the same points with me. I personally don't have debts and invest primarily in stocks and precious metals. Usury is up for interpretation, IMO.

Islamic world has historically been behind in economic growth partially do to backwards banking and investment notions on the ground. Reforms should be considered. If I were a debtor, I would love a 0% interest loan.....but then why would any one lend to me?

What results is a low level of investments and risk aversion in investors, banks and business inside Pakistan. Lack of domestic investment to expand of production and trade is why Pakistan has routinely had to go back to the IMF...since the low level domestic investment is solved by borrowing from abroad. This was mentioned in the OP vid. Either way your gonna pay interest. It can not be avoided in the modern world.

Pakistan recently issued green bonds in western countries to fund dam projects....$500 million worth. This tiny sum could easily be raised domestically if Pakistan's financial sector and thinking was more modern.

Agree the IMF and World bank trapped us really good. On a government level you simply cannot avoid it but on a personal level you absolutely can. Even a country like Saudi Arabia where Islam was born has a interest based banking and business sector.
The really funny thing here is they feel proud to ban alcohol and sexual activities because that's haram in Islam but are perfectly fine with the biggest of all haram riba . All harams aren't equal ,in Islam Riba is far biggest sin than adultery and drinking .

 

[313ghazi]

The social media has given a re-birth to the classic...
Pyramid schemes and/or Ponzi schemes....


With the new twist of "Influencers", "financial advisors", "entrepreneur"....


Lol

a practicing muslim usually avoids riba ultimately distancing from business loans, stocks, funds, insurances, mortgages, education/car loans etc..Those providing alternatives are either unaffordable or returning little yield.
This is the biggest hurdle in thinking out of the box

Unfortunately the disease of greed infects regardless of the faith one proports to carry. The pandemic has raised considerable financial anxiety in the populace and these people come out to prey on it.

You guys are being quick to judge. I've been watching this guys channel for a while now.

He's a self made millionaire, he made his money in Software development and has expanded into all sorts of markets.

He explicitly tells people to avoid riba.

He has setup a technical college in Mirpur teaching people basic vocational courses.

His channel is full of business ideas for people, and his mission is to help create a million dollar millionaires in Pakistan.

He won't invest with anyone, he won't coach anyone, he is not offering paid advice - he is trying to drive entrepreneurial spirit in our country.

 

[nahtanbob]

My wife argues the same points with me. I personally don't have debts and invest primarily in stocks and precious metals. Usury is up for interpretation, IMO.

Islamic world has historically been behind in economic growth partially do to backwards banking and investment notions on the ground. Reforms should be considered. If I were a debtor, I would love a 0% interest loan.....but then why would any one lend to me?

What results is a low level of investments and risk aversion in investors, banks and business inside Pakistan. Lack of domestic investment to expand of production and trade is why Pakistan has routinely had to go back to the IMF...since the low level domestic investment is solved by borrowing from abroad. This was mentioned in the OP vid. Either way your gonna pay interest. It can not be avoided in the modern world.

Pakistan recently issued green bonds in western countries to fund dam projects....$500 million worth. This tiny sum could easily be raised domestically if Pakistan's financial sector and thinking was more modern.

There are two sides to lending ... You hit the hammer on the nail
If I were a debtor, I would love a 0% interest loan.....but then why would any one lend to me?


historically interest rates were high because the political risks are extremely high
In the past 20-30 years I might argue money has been never cheaper all over the globe

 

[syedtalhamaududi]

At the end of time, low people wil be happy