The Thinking Muslim Managing Your Money and the Halal Economy with Harris Irfan
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Aug 10, 2024 Harris Irfan, CEO of Cordoba Capital Markets and a veteran in Islamic finance, shares insights into managing money ethically as a Muslim in the West. He discusses the challenges posed by traditional banking and advocates for participatory finance principles. Inflation's impact on investments is examined, stressing the need for ethical practices. Irfan highlights the importance of trustworthy financial advisors and ethical investing aligned with Islamic values. He calls for community empowerment through financial education and sustainable, halal investment strategies.
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Avoid Speculative, High-Time-Preference Bets
- Prefer investments with social impact and commercial viability; avoid high-time-preference, speculative projects.
- Harris links poor long-term investing to inflated money supply and short time horizons.
Vet Managers, Avoid Get-Rich Claims
- Vet managers' track records and avoid influencers promising unrealistic returns.
- Harris recommends favoring experienced 'greyhairs' and doing deep dives on people and small print.
Watch For Disguised Debt In Contracts
- Read the small print and watch for disguised leverage such as commodity murabaha that replicates loans.
- Favor equity, profit-sharing and genuine participation over debt-like structures.