Faraz Adam
@farazadam2
Chief Exec @amanahadvisors | Mufti @darulfiqh | Teacher @Daruliftaa_MIJ | PhD, Artificial Intelligence | Interests: Fiqh & Economics | Iftaa, MA, CSAA, ACCA |
ππ ππ’π©ππ₯π‘ππ‘ππ: π π π¨π¦π§! AI is no longer experimental β it's operational. Algorithms are now shaping decisions in hiring, lending, healthcare, policing, logistics, and even education. But while businesses rush to adopt machine learning systems,Β many areβ¦
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ππ¦ ππ‘π©ππ¦π§ππ‘π ππ‘ π¦πππ₯ππ¦ π π‘ππππ¦π¦ππ§π¬? A couple of weeks ago in the AAOIFI Standards Course session, I discussed the Shariah screening in depth for two hours. At the heart of the discussion was a fundamental question: Is investing in sharesβ¦
ππ‘π§πππ₯ππ§ππ‘π ππ ππ‘ ππ¦πππ ππ πππ‘ππ‘ππππ ππ‘π¦π§ππ§π¨π§ππ’π‘π¦: π§ππ π¦πππ πͺππ¬ As AI becomes a core productivity tool, institutionsβfrom banks and insurers to media outlets and charitiesβmust ensure that the technology advances organisationalβ¦
π¦π§π’π₯ππ‘π πͺππππ§π π’π‘ π§ππ πππ’πππππππ‘ β ππ¦πππ ππππππ¬ π©ππππ? One of theΒ core conditionsΒ for something to qualify asΒ mΔlΒ (wealth) in Islamic law isΒ iddikhΔrΒ β the ability toΒ store and preserveΒ that asset for future use. This is what makes anβ¦
π§ππ π¨π¦π πππ¦π π’π ππ’π‘πππ¦π¦ππ’π‘ ππ’π‘π§π₯πππ§π¦ ππ‘ ππ¦πππ ππ πππ‘ππ‘ππ One of the most sophisticated structures for public-private collaboration in infrastructure and utility development is theΒ Concession Contract. In Islamic finance, this modelβ¦
πͺππ€π: ππ¨πππππ‘π π¦π’ππππ§πππ¦, π‘π’π§ ππ¨π¦π§ ππ¦π¦ππ§π¦ Waqf is one of the most powerful socio-economic institutions in Islamic civilisation. It is more than just a donation. It is more than just charity. Waqf is legacy capitalβstructured giving thatβ¦
πͺπππ§ π ππππ¦ ππ‘πππ‘π§ππ©π ππππ¦ π¦πππ₯πππ ππ’π π£ππππ‘π§? In Islamic finance,Β WakΔlah bil UjrahΒ (agency with a fee) is a widely used structureβespecially in investment agency mandates, fund management, and Takaful. Remember, when WakΔlah has a fee forβ¦
π’π©ππ₯ π― π πππππ’π‘ ππ¨π‘π π§π’πππ‘π¦ ππππππ - ππ‘π π π’π¦π§ πͺππ₯π π‘π’π§ π¦πππ₯πππ ππ’π π£ππππ‘π§ ππ‘π¬πͺππ¬ The crypto market is expanding but alsoΒ imploding under its own excess. Only the fittest survive - those that are actually meaningful,β¦
πͺππ¬ ππ πππ‘ π‘ππ©ππ₯ ππ π π π¨ππ§π AI, especially Large Language Models (LLMs), works throughΒ pattern detectionΒ andΒ statistical prediction. When you ask it a question, it doesnβt βunderstandβ in any human or theological sense. It simply calculates which words areβ¦
ππ‘π©ππ¦π§π ππ‘π§ πͺππππππ In yesterday's AAOIFI lesson, we explored the world of Investment Wakalah, a very popular product that is being used in the Islamic Finance industry. β« What is Wakalah Bi Al-Istithmar? At its core, it is aΒ fiduciary agency contract, whereβ¦
ππ¦π§ππ¦π‘π: π ππ’π πππ‘ππ§ππ’π‘ π’π π ππππ¦π ππ‘π π¦πππ! Istisnaβ is a unique transaction: It starts as a hire, and ends with a sale. While it shares features with both, it does not fully align with either at every stage. Instead, the contractΒ transforms inβ¦
π₯ππ‘π§ π©π¦ π₯πππ In todayβs financial system,Β interest-based wealth generationΒ has come to resembleΒ rental incomeΒ β but with one critical difference:Β there is no real asset being used, no risk being carried, and no service being provided. TheΒ loaned principalΒ begins toβ¦
π‘π’ ππππ ππ¦π¦ππ§π¦ In Islamic economics, dormancy is not just inefficient, itβs against the vision of the system. The system actively encourages the circulation and productive use of assets. One of the clearest illustrations of this principle is the legal concept ofβ¦
π§ππ π€π¨πππ§ π₯πππ€ π‘π’ππ’ππ¬ π¦π£ππππ¦ πππ’π¨π§ Waking up rested. Your child hugging you for no reason. Peace whilst praying. A home with hot food. Safety in your neighbourhood. Not all Rizq shows up as a number in your bank account. In fact, most Rizqβ¦
ππππ‘ππ¬ ππ‘ ππ¦πππ ππ πππ‘ππ‘ππ In yesterday's lesson in the two-year programme on the @IFguru platform studying the AAOIFI Standards, we studied Standard 23 and the essence of agency. An agent is effectively a person who represents you and 'sits on your side ofβ¦
ππππ₯πππ‘π πππππ‘ππ ππππ¦ ππ₯π’π ππ‘ ππ¦πππ ππ πππ‘ππ‘ππ π£ππ₯π¦π£πππ§ππ©π In last week's lesson on the AAOIFI Standards (on the @IFguru Platform), we did a deep dive into the concept of licences. AΒ licenceΒ is aΒ legal permissionΒ granted by oneβ¦
π£ππ‘π¦ππ’π‘ ππ’π₯ π₯ππ§ππ₯ππ ππ‘π§, πͺππ€π ππ’π₯ ππππ§π Most of us spend 30 to 40 years of our livesΒ saving diligently for retirementΒ β planning for the final 10 to 20 years of our worldly life through pensions, investments, and wealth preservation strategies.β¦
π πππππ‘π‘ππ₯π¦ ππ¨πππ π§π’ ππ ππ‘π π¦πππ₯πππ ππ‘πππ¬π¦ππ¦ For those who missed the live session, the recording will be available soon on YouTube! In this presentation, I shared my research and thoughts based on my PhD thesis which explores AI from aβ¦
NEW ESSAY: MAKING SENSE OF RIBA Download: amanahadvisors.com/wp-content/uplβ¦ This essay presents a comprehensive exploration of the prohibition of Riba, situating it within the broader framework of Islamic legal and economic philosophy. It begins by outlining the dual dimensions ofβ¦
