BFM Podcast

The Next Crisis is Near. Can We Stop It?

Tan KW
Publish date: Mon, 25 May 2015, 01:46 PM

Tariq Al-Rifai, Author of “Islamic Finance and the New Financial System: An Ethical Approach to Preventing Future Financial Crises”

25-May-15 10:22

 
Tariq Alrifai has been involved in Islamic finance for over 18 years, and was previously the Global Director of Islamic Indices at S&P Dow Jones Indices. But in 2008, Tariq was hit hard by the 2008 financial crisis. As a professional working in the field, he was shocked at what happened, not because it could happen, but because he couldn’t see the signs of it coming. 

He spent the next 5 years reading and researching past financial crises and the history of the financial system, and in his book 'Islamic Finance and the New Financial System' argues  why modern finance should consider looking at Islamic finance for solutions. 
Discussions
1 person likes this. Showing 2 of 2 comments

914601117

same same. Look at saudi's stock market (TASI) plunging from 20,000+ to 6,000. Dubai crisis etc. No exception when come to capitalism.

2015-05-25 20:17

GoodCompanies

Islamic Finance is worse, because they tried to circumvent interest by creating pusing and spinning things, until they all confused. It added costs and too rigid, detached from the things it should be related to.
Also Islamic finance too much love on gold, wanting to replace currency with gold, while they forgot that the Quran mentioned about the prevention of gold hoarding in one of its chapter. Check book on "kegagalan emas", written in malay though, explained it fully. Also mentioned about interest is ok, showed the mathematics of it...

2015-05-26 10:21

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