The Prophet ο·Ί said: β€œAllah and His Messenger will disown a community which allows one of its members to go hungry.” [Ahmad]

"Banking as an industry is a type of fraud, and therefore, it cannot be ethical. Islamic banks must follow the rules set by central banks, so they too are allowed and required to create money from nothing." - Harris Irfan

This is a powerful reminder in one of the lectures of Nouman Ali Khan about some Ayahs of Al Imran in which the avoidance of Riba is directly equated with Taqwa (staring at minute 2:40). It's also interesting that the video editor placed an image of Bitcoin at this point. I don't know how he means it, but I am seeing this for the first time in his lectures. Perhaps we are slowly getting the message across to the people, alhamdulillah.

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"Prior to the inflation of government responsibilities through flawed ijtihād, these were restricted to military defense, adjudicating disputes between people, and a limited set of administrative tasks. If we wish to add responsibilities beyond these, it is upon us to prove that these additions would enhance society. Economic activities and resource management are largely left to individuals and communities. The choice is not, as some might fear, between organization, bureaucracy, and hierarchy on the one hand, and the vacuum of anarchy and chaos on the other. αΈ€uqΕ«q (rights) fill the vacuum. Linking the aαΈ₯kām (rulings) of αΈ₯uqΕ«q diminishes the need for ijtihād. Government reduction will lead not to chaos but rather to a more balanced and just society, transcending inefficiencies and social inequalities typically effected by government intervention." - Qas Al-Haq: An Alternative to Capitalism, Nation-State - Ummatics

Ummatics - Empowering Muslims Towards A Unified Islamic Civilization

Qas Al-Haq: An Alternative to Capitalism, Nation-State, Parts I & II - Ummatics

ο»Ώ Description Human life on Earth is unsustainable if humanity continues along the same path. The dominance of the nation-state, coupled with cap...

"In pre-Islamic Arabia, the Byzantine gold dinar, Persian silver dirhami, and copper fals (or fels; pl. falus or fulus) were used as coins. The value of both dinar and dirham was determined by their metal content (but not the fals). Coinage was not issued by a government authority, and minting coins was in the hands of private individuals. Disputes regarding weight and quality caused loss of economic efficiency; it did, however, provide competition and thus consumer choice. In the early Islamic Empire, Muslims continued to use Byzantine coins, but over time they outlawed the use of these coins and centralized the production of an Islamic dinar and dirham." - Islam Economics Sounds familiar, right?

"Many believe that a strong state will not allow market partici- pants to exploit consumers. Hoarding or abnormal price hikes, however, should not be understood just as a manifestation of market failure. As Ibn Qudamah realized, price control itself can be responsible for causing both hoarding and price hikes. If the state enforces an artificial price ceiling on traders wherein the true and natural costs of the product are responsible for price escalation, then traders are likely to resort to hoarding. Moreover, hoarding will lead to a shortage of supply, which will result in price hikes. Thus, price control itself can start a vicious cycle of price instability, and Islamic jurists have understood and analyzed this problem very clearly." - from "Islam & Economics"

Hamid Irsane, Shariah advisor, on LinkedIn about Takaful, "an ethical, cooperative alternative to conventional insurance, rooted in fairness and community support." "Takaful operates on Islamic principles of mutual cooperation (taawun), where participants contribute a set donation amount (tabarru') into a fund to protect one another against unexpected events. "

#takadao #communitypower #financialfreedom #inclusivity #empowerment #defi #web3 #crypto #islamicfinance #insurtech | Hamid I.

🌟 What is Takaful and How Does it Work🌟 Takaful operates on Islamic principles of mutual cooperation (taawun), where participants contribute...

Faraz Adam on LinkedIn about the halal standards of animal food consumption:

π—¨π—‘π——π—˜π—₯π—¦π—§π—”π—‘π——π—œπ—‘π—š π—›π—”π—Ÿπ—”π—Ÿ 𝗦𝗧𝗔𝗑𝗗𝗔π—₯𝗗𝗦: 𝗙π—₯𝗒𝗠 π—”π—–π—€π—¨π—œπ—¦π—œπ—§π—œπ—’π—‘ 𝗧𝗒 π—–π—’π—‘π—¦π—¨π— π—£π—§π—œπ—’π—‘ Halal is more than just the food on your plateβ€”it’s a process that spans the… | Faraz Adam

π—¨π—‘π——π—˜π—₯π—¦π—§π—”π—‘π——π—œπ—‘π—š π—›π—”π—Ÿπ—”π—Ÿ 𝗦𝗧𝗔𝗑𝗗𝗔π—₯𝗗𝗦: 𝗙π—₯𝗒𝗠 𝗔𝗖𝗀𝗨π...

That's what I meant with pureness in the whole supply chain in https://islamic-marketplace.com/ethical-website-creation/

Stay SAIF. Stay away from riba. Use Bitcoin whenever possible. Ditch fiat. Keep business clean. That's it. That's the message. [Brought to you by https://islamic-marketplace.com/]