Faraz Adam’s Post

🔄 𝗧𝗵𝗲 𝗘𝘃𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗼𝗳 𝗩𝗮𝗹𝘂𝗲 𝗘𝘅𝗰𝗵𝗮𝗻𝗴𝗲: 𝗙𝗿𝗼𝗺 𝗕𝗮𝗿𝘁𝗲𝗿 𝘁𝗼 𝗠𝗼𝗻𝗲𝘆 🔄 🔹 Barter System: The simplest form of value exchange where people trade goods and services directly. Effective in small communities but impractical for larger economies due to the need for a "coincidence of wants." 🔹 Challenges of Barter: - Scale Mismatch: Items may not have equal value, complicating direct trades (e.g., trading shoes for a house). - Time Constraints: Perishable goods cannot be accumulated for durable ones (e.g., exchanging apples for a car). - Location Issues: Non-transportable items pose challenges in trade across different locations. 🔹 Indirect Exchange: To overcome these challenges, societies began using intermediary goods, or mediums of exchange, leading to the development of money. A single, widely accepted medium of exchange simplifies transactions. 🔹 Characteristics of Money: Money must be: - Salable: Easily sold or exchanged. - Durable: Maintain value over time. - Liquid: Quickly and easily converted without significant loss. 🔹 Historical Forms of Money: Over time, various items have served as money, from seashells and cattle to gold and government-issued paper currency. Each was chosen based on its effectiveness in addressing the challenges of barter. 🔹 The Emergence of Hard Money: Durable and scarce forms of money, like gold, became preferred due to their ability to hold value over time. Hard money has a high stock-to-flow ratio, meaning existing supply is large relative to new production, maintaining value stability. 🔹 Modern Implications: Today's economies require a reliable medium of exchange to facilitate specialisation, capital accumulation, and complex production processes. A single currency standardises prices, simplifies economic calculations, and supports market efficiency. 🔹 Bitcoin and Beyond: The evolution continues with digital media of exchange like Bitcoin, which offer new possibilities and challenges in the quest for sound money.

𝗡𝗘𝗪 𝗕𝗢𝗢𝗞: 𝗦𝗨𝗕𝗦𝗧𝗔𝗡𝗖𝗘 𝗧𝗥𝗔𝗡𝗦𝗙𝗢𝗥𝗠𝗔𝗧𝗜𝗢𝗡 𝗜𝗡 𝗛𝗔𝗟𝗔𝗟 𝗙𝗢𝗢𝗗 𝗜𝗡𝗗𝗨𝗦𝗧𝗥𝗬 This is one for the Halal Food industry! Really happy to share my latest write-up! What is the ruling on gelatine that has been derived from porcine gelatine? What is transformation of a substance? In this book, I explore the Fiqh and Islamic principles regarding the concept of Istihalah, or transformation. The linguistic meanings of Istiḥālah include: the change of something from its nature and description, or something being impossible. The use of the term Istiḥālah by jurists and scholars does not deviate from these two linguistic meanings. Technically, Istiḥālah can be described as a complete transformation and change in the essence of an object. Istiḥālah manifests when impure objects, such as impurities, wine, and pork, transform completely from their original essence into something new. The Fuqahā’ agree on the purity of vinegar when wine transforms into vinegar. Other impurities that transform from their original state have differing opinions regarding their purity. The Fuqahā’ detail this in the discussion of impurities and methods of purification. 

𝗔𝗥𝗘 𝗬𝗢𝗨 𝗥𝗘𝗔𝗟𝗟𝗬 𝗟𝗢𝗢𝗞𝗜𝗡𝗚 𝗧𝗢 𝗠𝗔𝗦𝗧𝗘𝗥 𝗜𝗦𝗟𝗔𝗠𝗜𝗖 𝗙𝗜𝗡𝗔𝗡𝗖𝗘?? Program Highlights: 🔴 In-Depth Exploration: Read every line of the AAOIFI standards, accompanied by detailed explanations and real-world examples. 🔴 Case Studies: Engage with practical case studies that illuminate the application of these standards in various financial scenarios. 🔴 Shariah Discussions: Participate in comprehensive Shariah discussions that scrutinise each standard from both Fiqh and Maqasid Shariah perspectives. 🔴 Critical Analysis: Develop the skills to critically evaluate the standards, ensuring they align with the overarching goals of Shariah and Islamic jurisprudence. Get Certified to: 🔵 Lead initiatives that integrate Shariah-compliant financial practices in diverse sectors. 🔵 Advise organisations on the ethical and legal implications of AAOIFI standards. 🔵 Promote financial products and services that embody the principles of justice, equity, and public welfare. 🔵 Serve as a thought leader in Islamic finance, influencing policy and practice on a global scale. Learning Objectives: ⚪ Thorough Understanding: Attain an in-depth knowledge of AAOIFI standards, understanding their content, structure, and applications. ⚪ Fiqh Principles: Master the principles of Usul Fiqh (Islamic jurisprudence) and their application to financial transactions. ⚪ Shariah Objectives: Explore the Maqasid Shariah (objectives of Islamic law) and how they guide the creation and implementation of financial standards. ⚪ Critical Analysis: Develop the ability to critically analyze AAOIFI standards, ensuring they meet the essential criteria of Fiqh and Maqasid Shariah. ⚪ Real-World Application: Apply the standards to real-world scenarios through comprehensive case studies and practical examples. ⚪ Ethical Financial Practice: Promote ethical financial practices that align with Islamic principles, fostering justice and equity in financial dealings. ⚪ Innovative Solutions: Design and advocate for innovative financial instruments and products that address contemporary challenges while adhering to Shariah principles. ⚪ Leadership in Islamic Finance: Prepare to take on leadership roles in Islamic finance, guiding organizations towards compliance and excellence. ⚪ Community Impact: Influence and contribute to the broader Islamic finance community by promoting standards that uphold the core values of Shariah. Sign-up today 👇 https://lnkd.in/eyKjbR_q