Our guest this week is an insider turned sceptic. Harris Irfan takes on the essential purpose and complexities of Islamic finance and questions whether it has fulfilled its lofty Islamic objectives. Harris is the author of “Heaven’s Bankers: Inside the hidden world of Islamic Finance”.
In this discussion with Riaz Hasan, he talks candidly about how much Islamic finance depends on a capitalist riba-based architecture. He recalls his part in acquiring funding for the Makkah clock tower, a project he now regrets. This is a fascinating look at the players and motives of an industry. Harris also offers his views on Bitcoin as a more Islamic alternative above the gold standard, traditionally accepted as a stable shariah-based currency.
Thanks to the team: Musab Muhammad, Reem Walid, Adeel Alam, Yusra Zainuddin, Ahaz Atif and Umar Abdul Salam.
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