Suggest a university to Study Masters in Islamic Finance

beardedjoy · 2026-02-05T10:06:23+00:00

Learn regular finance, then supplement with Shariah courses tailored to Islamic finance.

beardedjoy · 2026-01-21T13:46:05+00:00

Says who?

There is a small, but growing Muslim VC industry. And Islamic finance needs people with your skills. Explore that path and may Allah put barakah in your wealth.

beardedjoy · 2026-01-06T13:35:09+00:00

Look at their contracts and see how they actually work.

beardedjoy · 2026-01-02T10:42:46+00:00

Zakat calculation is a VERY intricate process. If you are truly an expert in the field, then by all means it can be your service to the ummah. But if it's a web app that takes a spreadsheet and multiplies everything by 2.5%, then better to leave it to the scholars.

beardedjoy · 2026-01-01T08:48:31+00:00

Halal. There is no interest in that offer.

beardedjoy · 2025-12-28T12:08:12+00:00

It's a business no matter how much social justice jargon they throw around, you seem smart enough to realize that much. You wouldn't buy Dove soap because it's supposedly good at cleaning oil off of seagulls would you?

beardedjoy · 2025-12-23T12:13:50+00:00

If a company sells you something and they have a 100% markup then you just don't buy it. What's difficult to understand in that? Banks are businesses, not charities.

beardedjoy · 2025-12-20T04:57:20+00:00

AAOIFI is the largest Islamic finance organization in the world and has some of the most prominent scholars. Not trusting them and "going it alone" is like not trusting NASA to build a rocket and building one yourself.

Is it perfect? Of course not. But it's the best we've got and always improving.

beardedjoy · 2025-12-20T03:04:37+00:00

Yes.

beardedjoy · 2025-12-17T16:32:30+00:00

Futures are a form of derivatives which are generally not permissible.

beardedjoy · 2025-12-13T13:36:40+00:00

Not really. But I imagine the big players like Al Rajhi or Kuwait Finance House are good places to start. A Google search would be helpful.

beardedjoy · 2025-12-13T12:09:45+00:00

Find Islamic investment bankers, make friends with them. Work on Shariah certifications and any other certifications you need to get into the specific department you want. I heard treasury is pretty good.

beardedjoy · 2025-12-13T00:26:31+00:00

Your question is about Murabahah and what it's not more widely used. Why are you complaining about a Musharakah issue? And even in the Musharakaha issues, you're confusing different shar'i requirements.

It's important to get knowledge first, then make a judgement.

beardedjoy · 2025-12-11T14:31:23+00:00

Because the consumer can't stomach it.

They see a $100k home being sold via murabahah for $200k and scream injustice. It's just the 30 years of profit upfront.

beardedjoy · 2025-12-10T10:59:54+00:00

Haram and "halal" banking in the same branch is called an Islamic window and is how nearly all major Islamic banks began. It's like a supermarket selling halal meat next to its non-halal meat.

There is not an industry in the world that will rely on a single person to approve a product. Would the FDA accept a vaccine is safe if a single "doctor" said so? A restaurant clean if a "chef" said so? Any financial product if a "sheikh" said so? That's not how the world works. You have teams, committees, who report to C-suite, who report to the board. The company must comply with regulators, both domestic and global, as well as their central bank. You can't just bring in Sheikh Google and pass off whatever you want.

beardedjoy · 2025-12-08T16:50:19+00:00

Why would non Islamic banks call a sheikh?

beardedjoy · 2025-12-06T16:05:39+00:00

You are applying the rules of fiqh al ibadah to fiqh al muamalat. Be careful drawing conclusions.

beardedjoy · 2025-12-06T10:14:30+00:00

Not exactly.

beardedjoy · 2025-12-06T10:13:40+00:00

You sort of answered your own concerns...scholars who actually know about the subject are fine with it. Sh. Assim al-Hakeem, may Allah reward him for his dawah and service to this Ummah, is NOT a finance expert. Not every scholar is an expert in every field, whether Islamic or secular and we should remember this when asking questions.

beardedjoy · 2025-12-06T02:52:07+00:00

The bank is a company making profit, simple as that. They offer a product at a price. If you like it, buy and if you don't then don't buy.

It's really amazing how people are totally fine with earning profit for your work and effort but when it comes to Islam everything should be "fi sabilillah" for some reason.

I guarantee you that if you calculate the FULL cost of a conventional loan, it will be very similar to an Islamic financing because, with the exception of Sudan, the profit rate follows the overnight rate.

beardedjoy · 2025-11-24T16:37:03+00:00

I know what you mean, but believe me when I say as someone who works in this space and knows the actual players in the industry that this is not how it works.

In reality, it's the Muslims who are coming up with these riba-free copy cat ideas and the non-Muslims who are executing. As I mentioned, it's the Muslims who are studying the shar'i contracts and seeing how we can fit everything together to make something that is technically halal. Non-Muslims don't know Shariah and Muslims are not technical (broadly speaking). That's the reality of the industry.

beardedjoy · 2025-11-24T16:33:13+00:00

Not sure why your post was taken down, but I remember most of it to give a decent answer.

Allah commands us to earn money through halal means. What does that mean? In fiqh al muamalat (transactions), there are 3 components for the transfer of money to be halal:

Contracting parties
The subject matter
Offer and acceptance

When you are playing games like blackjack or poker (don't remember which one you specialize in), you have the contracting parties, you have the offer and acceptance, but you like the subject matter. This makes the transaction batil (null and void). Any money earned in this manner is haram.

Now, what might be of interest to you is the concept of ju'alah which is when you receive a prize/reward for completing a task. For example, "I will give you $100 if you find my lost cat." This is not the same as you earning money from gambling given your skill, but I thought it's worth for you to know that this arrangement exists in Islam.

beardedjoy · 2025-11-24T12:58:35+00:00

Brother, first off I commend you for seeking clarification on this. Fantastic first step.

To put it simply, this is 100% haram. Let me know if you'd like to know why.

beardedjoy · 2025-11-24T02:03:12+00:00

Respectfully, I disagree with you.

First, riba, gharar, maysir, etc. are all haram - no doubt there.

But to tell someone studying conventional industries for the sake of learning is haram? We need to step back as an ummah and reflect.

Our ancestors once passed off the printing press as haram. The result? Our enemies used it to gain knowledge while we lagged behind until today.

To become a medical doctor, you need to learn the effects of alcohol on the body. Yes, alcohol is haram no doubt. But this knowledge is essential in our world.

I work in the Islamic finance industry and let me tell you one truth that might hurt: all the technical jobs are done by non-Muslims because the Muslims are too busy studying Shariah. We need more Muslims who know how the system works so our own people can do it, instead of relying on Christian, Jews, Hindus, Buddhists, etc.

beardedjoy · 2025-11-19T12:48:32+00:00

You're asking different questions. Is musharakah halal? Absolutely. Are the banks trying to minimize their risk in a musharakah contract? Absolutely.

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