That dude is a jaahil when it comes to anything about deep islamic knowledge. He should study first before going on news platforms and make an embarrassment of not just himself but all Muslims in the uk
@@CR7Update be careful when you backbite them muslims. Allah will take your deeds and place it on his back and take his bad deeds and place it on your back. May Allah humble us
@@factsdontcare4feelings24 im not backbiting im speaking the truth, just go and look at his videos on bbc and others where he is very good at debunking and refuting western philosophies like liberalism but when it comes to defending islamic beliefs he goes blank or doesn't do a sufficient job at properly quoting from the quran and sunnah. literally just look up his videos on bbc youll see
@@swalihmm speaking the truth is not eating anyone's flesh. I admitted he's very well spoken when refuting western philosophies but he clearly needs to study islam more AND AS DO I if we want to go on live television to give dawah
@@MICKROCKS-lo7yp Wion, a news organization, created a video about sharia law that was filled with lies that got 1.9 million views, to which Hijab responded here: th-cam.com/video/nvIoWunqmZ4/w-d-xo.html
The gold standard must be re-established. Without it the rich will be getting richer and the poor get poorer and everyone will be a slave to the dollar. I'd recommend watching a documentary called "How money became worthless" which explains how the world economy is running basically on interest.
@@jibrilmohamed9422 well if it's just to learn.. then there's enough materials on youtube.. but academically if you want a degree or certificate.. i don't know how without gcse or a level... sorry..
@@jibrilmohamed9422 Read economics from mankiw, parkin, and case and fair, those are the books I used in undergrad and they are not so difficult to read even though they are textbooks
You have highlighted questions in this video I've been asking myself for quite some time now. Please do delve into the economics of Islam especially to do with money markets and value/currency in future videos like this. Unfortunately, discussions such as this are few and far between - overall very refreshing to see this. EDIT: typo
Jizakallah kher for the very informative video. As a student of economics it is indeed important to look at islamic economics perpective. Salam and dua from Pakistan.
24:08 "it doesn't allow people to exercise agency over their goodness" pure wisdom from mo.hijab. This statement clears up so much doubt and misunderstanding for us muslims, we have to be mindful and self aware about these principles when faced with lifes trials and tribulations.
This is a stupendous introductory video to the subject. In the days and times we are living where governments are taxing and printing the wealth of their nations into the hands of the rich and wealthy, this is an incredibly interesting and relevant topic to be discussing. I would hope you brothers do more videos shining a light on this alternative and enlighten Muslims and non Muslims who can see the flaws in the current system alike. Bring on more guests who may be more specialized in the fields of economics, and economics according to Islamic values. A 2 hour round table discussion with 4 or 5 qualified experts jn their fields would be amazing. Something I've given a great deal of thought to in my life, and am happy to see we've reached many of the same fundamental initial conclusions. Barek Allahu feekom
Alhamdulillah interesting discussion and finally a fresh topic that most fail to mention. I think however that there are a number of points which could have been mentioned, which would have added depth into the chat: 1) Islamic economics isn't necessarily a "model" whereby certain policies can be applied into any given state. It is a "System" which must be institutionally implemented as part of the Islamic State (as M.H alludes to at 21:53) 2) Zakat is not the sole taxation policy in Islam. The Islamic Economic system also includes 'Ushri and Kharaji tax which would add huge revenues into the state. 3) The Islamic Economic system is absolutely distinct from the Capitalist and Communist Economic systems. Not only due to some fiqhi aspects (like the prohibition of Riba, Zakat percentages as mentioned) but from the basis of the Economic system itself. For example Islam allows private ownership (within limits) whereas Communism completely banned private ownership. However Islam generally prohibits the private ownership of natural resources (as mentioned in the hadith about water, green pastures and fire) whereas in Capitalism any corporation can take charge of oil fields, coal mines, gas deposits etc, monopolise them and then sell them to the rest of the world (shout out to the Saud family). These are but a few examples of the differences between the economic systems of Islam, Capitalism and Communism from a fundamental level. Overall the discussion was interesting and look forward on hearing further detail in future inshaAllah. More information regarding the above mentioned with evidences can be found in a free pdf version book titled: "The Economic System of Islam by Sheikh Taqiuddeen an-Nabhani". Jzkk.
To shed some more light on an important point made in 12:30-14:13 in this lovely discussion. It is essentially technological disruption which begets job destruction, but also job creation somewhere else. Innovation is important in modern day economics since it generates significant value to be added in the GDP which explains why governments incentivizes subsidies to large conglomerates to continue further innovation to promote more growth and newly added jobs. A regulatory board and policymakers are definitely essential to protect the general public since the pace of innovation surpasses the rate of change in social structures. I sincerely believe Muslim civilization should be at the forefront of emerging technology and pioneering in new fields to become a major force in the global market.
Unfortunately, that is all a pipe dream as the standard of education in the majority of Muslim world is pathetic where average people are more concerned about what a woman can wear rather than thinking about Science and Technology and this sorry state of affairs has been going on over the past 700 years at least! To be at the forefront of technology requires mass government spending in education and R&D, population control, increased female involvement in the workforce, rapid industrialization and having an export based economy that later climbs up the supply chain (Look up the East Asian model). Some Muslim countries (Malaysia, Indonesia, and Bangladesh) have been applying that model for development and it seems to be working well.
@@ammarkhalid874 I cannot agree more! I find it quite disappointing that a significant part of the Muslim population are behind in academics. Hopefully, we will see progress in the coming generations.
@@shujakhan4252 I do applaud your optimism but unfortunately it’ll be a painful road before better times are in sight and both me and you will be long gone from this world before it happens. However, for muslims to excel in science and technology, it will require a reformation of the entire thought process of the majority of the Muslims where they will have to reconcile their belief systems with the 21st century and looking beyond to the future instead of looking back in history and hoping for that time/way of life to revive again.
@@ammarkhalid874 The love of the worldly life is the reason behind most of the problems in Islamic countries today. This is also the same thing our Prophet Muhammed (PBUH) said. Many Muslim countries are very liberal and fairly advanced, yet the living conditions for good portions of their populations are very poor (because of greed, widespread corruption and no morals). Also you can't just change the teachings of Islam at will. If you follow values that are against the teachings of Qur'an and authentic Sunnah, you are deviating from the path of Islam.
@@infinitybay77 I will have to disagree with you. The Islamic world (apart from Indonesia, Malaysia, and Turkey) has not gone through industrialization and the standard of living is pretty pathetic compared to the Far East and the Western World. In fact, as the world moves away from oil and gas it is very much likely that India and many parts of sub Saharan Africa will also economically surpass much of the Islamic world. You have to first define what do you mean by love for “worldly” life? Does that include improvements in education, increased women participation in the labor force, lowering birth rates, and investments in scientific and technological development? If that is so, then the way you interpret Islam is very nihilistic and this medieval age mentality is bound to only cause more social and economic unrest as the rest of the world keeps exploiting your resources.
I love the conversation and its one I would care to see more off. In terms of a machine taking over a persons job I don't see this to be entirely a problem as machines also require a human element for operation and support. The job function is made efficient by a machine however employment gets created for supporting such machines. For the person that no longer has the original job requires support to grow in order to shift to an alternate opportunity. (I do understand there are allot of variables during this process)
Strangely ebough, I didn't bothered visiting brother Subboor's channel, yet I was interested in how Islamic economic model would work for years. Great discussion, may Allah grant you more barakah
Assalamualikum. Mashallah fruitful discussion. Could you guys use mics in your sessions because there's a little bit of trouble in hearing. Jazakallah.
The part on replacing humans with machines, if it is even right to do, yes it is when the machines do a better job, more efficiently. Don't look at it as people losing their jobs, those people go somewhere else OR learn to operate, build, maintain those machines. Jobs lost, other jobs created. Machines can't work themselves. You guys are from England, the street lights you see used to be oil based. There used to be someone who used to go to each one, light them up at night. With the invention of the lightbulb, those people lost their job, but, we got something more efficient and reliable. There are many other examples but, Inshallah you get the point.
could you brothers speak louder or increase the volume of the video, Im not sure if its just me but im having to put the volume quite high in order to hear
Thank you so much for talking about this very important topic that for some reason we (muslims and non-muslims) don't hear enough information about. Is it because the Arab governments don't want us to know that taxes are not allowed in Islam? I don't know... ! but this topic is extremely important! And I would love to hear more details about to educate the people world wide! 👍🏼 Thank you so much Sheik Hijab for your hard work! 💐
@@srnp0007 The more you raise taxes the less people buy and therefor the more small businesses go out of business and employees lose their jobs and the more poverty and economical problems occur. This is a FACT! Now if all people would follow their religious guidance and pay their 2.5% Zakat annually most likely their economies will be much better in those countries. Unfortunately that's not the case and that's why we see a lot of poverties and unjust living situations.
@@srnp0007 yes I am sure if they do it correctly. Of course governments need to also fully implement Islamic laws and not spend the countries wealth on things that are not priorities. They need to be smart, wise and start manufacturing stuff rather than buying from western countries.
Brilliant chat, it would be great to explore this economic system design further, given the blockchain technology we now have available. One point I would make is that Gold is most likely haram these days because if you peg the underlying currency on gold you give favour to the people who own the majority of the Gold, which are the ruling elite insane misers.
Interesting point, unless you own the physical gold you are pegging the crypto to, in which case it would have to be represented as a gram value and never as a dollar or any other fiat currency value. Also, you would need to have incentivize people into staying in a closed loop economy as much as possible, at first, until it gains enough economic strength and volume in trade(that is, people being able to buy into your token but not able to sell with ease or without paying a tariff to trade outside of it)
@@Bruh-jw2ze lol, bruh. I think you got us twisted, not a sleeper cell, an awake cell trying to break out the matrix. Think about liberating yourself and your community from the slavery of consumerism. You think you're free when your time and energy is depreciating by the minute? BTW, I am not talking about Islam here, just not about the mainstream lies being fed to you.
Mohammed Hijab reminds me of Umar ibn Al Khattab (RA). Both have similar physique, ancestry ,oratory skill and the all-important quality of wisdom and knowledge. If I had to give my Bay'ah to a person, it would be Mohammad Hijab.
A salaam aleikum wa rahmatulillahi wa barakatuhu. Brothers I think this is out of the above topic but I have no other way of contacting brother MH to ask him if he has come across the assertions being made by Dr Hany on his marvellous Quran series on You Tube and to please address Dr Hany's claims. Please brother MH look seriously into this as it's leaving a lot of musims confused as Dr Hany does have some valid points but on others preposterous claims and interpretations!!!!
that money itself must have a value in it not just paper the money itself must be gold or silver search ( Goldback money topic ) also another solution is debit card linked with your bank account of gold and silver deposit or both approaches
MH mentioned “Islam encourages against against slaves and it encourages against the emancipatory discourse”. Did he mean to say it encourages “against” emancipatory discourse? What is wrong with emancipatory discourse? Does it infer societal disruption? Or perhaps a mistake…
@@jammapcb someone gotta take care of the women whose husbands/fathers died in war....so better take them as companions and muslims can take care of them
You didn't incorporate how money itself is different in Islam vs today westernized system. Islamic money was in gold, silver etc. so its tangible ..meaning it can be converted and used in different ways. Today, its fiat paper money. Can't really be used in any other way. The price of all todays money is interest rate which controls the money supply
You need to have Peter Schiff on. Economics and the correlation it had with Islamic doctrine is what really solidified my faith in God. My proof of God is really in economics.
@Ibtisaam Benzoin yes. The concept of individualism, the free market, the invisible hand, limited government, voluntary transactions, supply and demand, limited resources, gold standard, the properties of gold, debt, etc.
@@nolhman123 Yes, its sad to see many of my Muslim friends get attracted to socialist ideas, even more so in Europe than here in the states. Many Muslims used to be fiscally conservative but now many have been led astray to collectivist ideas and ideas of big government providing for them and nurturing them, too bad they cannot see the true dangers in that.
7:59 technically there could be that there wont be any resession, bcause often recession is bcause of some sort of injustice done by business people or not paying zakat and such, i mean if u uphold 100% Islamic values, then i think there has been few societies that are so rich that can't accept zakat at all. thus it can be done that there is no recession what so ever.
It's so easy to counter dumb nonsense like "gods-believing". Especially if it tries to shoehorn itself into real world aspects, like making money to survive...
also discussing taxing part takes will not have that much of importance//necessity if all Muslim nation /countries are united there is no border in first place to be limited with certain economy or natural resources you can simply migrate to another Muslim land which can benefits you better
Allama Iqbal wrote in one of his poems, "The fact concealed in words so far, 'Kulil Afwu', May come to light in modern age and make the meanings clear and bare". 'Kulil Afwu' is in the Quran (2:219) which points to spending the excess [beyond needs]. Towards the end of your discussion you were pointing out to the over-burden of taxes being levied after zakat being taken by the state. But in light of this verse, and the modern increase in what we classify as excess [beyond needs], don't you think that in some way this verse can be applied by the state in some way?
Slavery exists today but in a different format - its now exhibited in the massive wage disparity between the nations. In the poorer nations (many of which have been economically and militarily suppressed) billions of workers earn a few dollars per day making things that the rich countries need. With that few dollars, they are expected to feed and clothe their families, pay for housing, pay for transportation, pay for medical bills etc etc. Slave owners used to pay these costs for their slaves and if slavery were around today, it would cost a lot more than a few dollars per day to look after them. Slavery still exists with the illusion of freedom. Why is the daily Labour of someone in pakistan or Kenya or any poor nation worth less than a third of the hourly wage of someone in a developed world?
This is partially incorrect, boom and busts can happen outside of general riba, it is because of currency manipulation and interference in the market place. In real boom and busts obsolete sectors are wiped out and capital (money) is diverted to productive sectors developing them out. A productive society should always bring prices down (deflation), therefore the value of your money keeps increasing without riba. And the zakat will ensure hoarding won't take place.
Modern tax system is progressive taxation which means by growing income, state will tax more. This system is implemented in most capitalist system even USA. So your narrations that modern capitalist system, rich people pay less tax is blatantly false. Islam do not favor taxing rich people, since they are wealth generator. Zekat in Islam is simple, low and not progressive, which is totally opposite of modern tax system.
And speaking about technology replacing man power, how can you put a fatwa against that? Why is self service machines replacing 8 men the line, I’m sure back in the day, an Ox ploughing the field took the job of 8 people
I agree, such a short sighted idea to ban technology to save jobs. Misguided ideas like that left Islamic countries (once the leaders of scientific innovation) way behind the West in terms of progress and technology 😩, there are other solutions to structural unemployment.
@@ok00001 yeah i agree with you. A steady transition will move employment towards sectors that need it. With the correct plan and investment you can smoothly transition but a blanket fatwa against technology isnt the way.
You confused interest rate with rebah. They are different. You can not reach zero interest rate unless by printing money, which is most horrible economic phenomenon and more worse than rebah. Actually zero interest rate is ideal of current capitalist system, and in some time , the real interest rate is negative. Spending economy is Keynesian economy not Islamic which is viable by intrusion of property right. interest rate is price of time and its role is coordination of time transactions. Read about market and interest rate from Hayek and Mises.
They're blinded by their faith. Won't listen to what you say. They have to protray their belief system as something that solves all the problems. Listen to Mr. Hijab say " we will use a huge portion of zakat to free slaves/modern slaves". Pretty much what modern government does with police and tax money.
Considering the current interest-based financial system being the core of our economy. It is extremely difficult to introduce new models compliant with Sharia. Does anyone else think that decentralised digital finance can be a platform to introduce a completely interest-free financial system? Blockchain-based lending and borrowing protocols like Aave, Compound, Cream finance are few examples and their adoption is growing exponentially. I'm not an expert in the field, but I think it's something worth looking at. please share your opinion.
salaam please explain to me chp5v 117-118 why did isa ibn maryam (as) say that he had no knowledge of the condition of Christianity if he will return again jzk.
Fiat currency is absolutely haram for so many reasons that I can’t go through in a TH-cam comment, so I’ll give a couple, increasing the money supply devalues the currency which is haram because it’s practically a tax, and taxing people beyond the zakat is a major sin in Islam, also devaluing people’s property is the sin that the people of Median got destroyed for, as Allah says in the Quran “don’t devalue the property of people”, it also gives an unfair economic advantage of a group of people over others like we see today our enemies have over us, it also gives them a monopoly which is also forbidden in Islam, value is also only created by Allah and is placed in items like gold and silver, giving someone else that power is shirk, and it eventually leads to disaster, as we know all fiat currencies eventually go to their real value which is zero.
I love this topic. Islamic money is gold and silver. This is real money and it has been money for thousands of years. Booms and busts are caused by interest. It screws up natural supply and demand in the market. Allah has cursed interest for a reason. Currently we have a mixed economy. Pure capitalism is based on voluntary exchange while pure communism is the collective ownership of everything. Islam is closer to pure capitalism out of the two. It is a mixed economy based on Islamic law. Technology taking away jobs is called the Luddite fallacy in economics. You see the jobs taken away but not created by the technology. If this was true then we would be better off digging with our hands.
I would appreciate if you two look into Richard Wolff's interpretation of Marxist ideology, where democracy WITHIN work place/ production is something that is encouraged. Which is something that seems can work with Islam. And also please react or respond to his lectures on Marxism, which addresses the dark history etc.
Islamic economy model protects people’s dignity ... (273) [Charity is] for the poor who have been restricted for the cause of Allāh, unable to move about in the land. An ignorant [person] would think them self-sufficient because of their restraint, but you will know them by their [characteristic] sign. They do not ask people persistently [or at all]. And whatever you spend of good - indeed, Allāh is Knowing of it.
Some very good remarks but economics does not seem your strong point. If you stop innovation in the long run you will not be able to compete. Also innovation brings other different jobs. The question is how to manage the transition. Also if you only have zakat as “tax”. How wil you pay all other expenses, like for building infrastructure, education etc.?
Why did your "prophet" have to bargain from 50 times talking to yourself a day to 5 times a day? Is your "supreme being" not "economically inclined"? Did it forget about keeping yourself alive TO talk to yourself?.... Weird...
“If you remove by necessity the forces of volatility then you have possibility” - MH
Very nice!
I dont get it
Then you have Stability*
This talk is missing Abdullah Andalusi. Great discussion 👍
That dude is a jaahil when it comes to anything about deep islamic knowledge. He should study first before going on news platforms and make an embarrassment of not just himself but all Muslims in the uk
@@CR7Update be careful when you backbite them muslims. Allah will take your deeds and place it on his back and take his bad deeds and place it on your back. May Allah humble us
@@factsdontcare4feelings24 im not backbiting im speaking the truth, just go and look at his videos on bbc and others where he is very good at debunking and refuting western philosophies like liberalism but when it comes to defending islamic beliefs he goes blank or doesn't do a sufficient job at properly quoting from the quran and sunnah. literally just look up his videos on bbc youll see
@@CR7Update dont eat the flesh of your brother.
@@swalihmm speaking the truth is not eating anyone's flesh. I admitted he's very well spoken when refuting western philosophies but he clearly needs to study islam more AND AS DO I if we want to go on live television to give dawah
Salam from Russia ! Thanks for video
Hijab expose more the likes of wion in India
What???
@@MICKROCKS-lo7yp Wion, a news organization, created a video about sharia law that was filled with lies that got 1.9 million views, to which Hijab responded here: th-cam.com/video/nvIoWunqmZ4/w-d-xo.html
What ? This video is about economics
The gold standard must be re-established. Without it the rich will be getting richer and the poor get poorer and everyone will be a slave to the dollar. I'd recommend watching a documentary called "How money became worthless" which explains how the world economy is running basically on interest.
@Palestine Forever His son was an imam at a mosque I used to attend
@Palestine Forever in Cape Town
@Palestine Forever I did not have that honour but I have many friends who met him, he passed away last month, May Allah Grant him a janah firdous.
@Palestine Forever Brother, is there an soft copy of the book?
@@jibrilmohamed9422 are you not a Muslim my friend?
YEEESSSSSSS! Late night with Subboor and Hijab, been waiting for this!!! Allahu akbar
Salamu alaikum to all Muslims, from Ethiopia
Wa alaykum Salaam Brother Omar.
Wa aleykum selam, from Germany
finally..as an economics student this was really important for me...
but the sound is soo loww
Are you in university brother?
@@jibrilmohamed9422 yeah
@@EnigMagnum how does one learn about economics without a background in gcse or a level economics
@@jibrilmohamed9422 well if it's just to learn.. then there's enough materials on youtube..
but academically if you want a degree or certificate.. i don't know how without gcse or a level... sorry..
@@jibrilmohamed9422 Read economics from mankiw, parkin, and case and fair, those are the books I used in undergrad and they are not so difficult to read even though they are textbooks
You have highlighted questions in this video I've been asking myself for quite some time now. Please do delve into the economics of Islam especially to do with money markets and value/currency in future videos like this. Unfortunately, discussions such as this are few and far between - overall very refreshing to see this.
EDIT: typo
Jizakallah kher for the very informative video. As a student of economics it is indeed important to look at islamic economics perpective. Salam and dua from Pakistan.
Thought provoking ❤
24:08 "it doesn't allow people to exercise agency over their goodness" pure wisdom from mo.hijab. This statement clears up so much doubt and misunderstanding for us muslims, we have to be mindful and self aware about these principles when faced with lifes trials and tribulations.
Great argument Subhoor regarding related to the impact of the means of production on the distribution of wealth.
Mohammad and Subboor are my favorite duo! Please do more late night discussions!!
Salam brother from Chicago
mashallah both brothers looking amazing, handsome and strong!
This is a stupendous introductory video to the subject. In the days and times we are living where governments are taxing and printing the wealth of their nations into the hands of the rich and wealthy, this is an incredibly interesting and relevant topic to be discussing.
I would hope you brothers do more videos shining a light on this alternative and enlighten Muslims and non Muslims who can see the flaws in the current system alike. Bring on more guests who may be more specialized in the fields of economics, and economics according to Islamic values. A 2 hour round table discussion with 4 or 5 qualified experts jn their fields would be amazing.
Something I've given a great deal of thought to in my life, and am happy to see we've reached many of the same fundamental initial conclusions.
Barek Allahu feekom
Guys improve on the audio please, It’s very poor quality when playing in the car or through headphones. JazakumAllah
Alhamdulillah interesting discussion and finally a fresh topic that most fail to mention.
I think however that there are a number of points which could have been mentioned, which would have added depth into the chat:
1) Islamic economics isn't necessarily a "model" whereby certain policies can be applied into any given state. It is a "System" which must be institutionally implemented as part of the Islamic State (as M.H alludes to at 21:53)
2) Zakat is not the sole taxation policy in Islam. The Islamic Economic system also includes 'Ushri and Kharaji tax which would add huge revenues into the state.
3) The Islamic Economic system is absolutely distinct from the Capitalist and Communist Economic systems. Not only due to some fiqhi aspects (like the prohibition of Riba, Zakat percentages as mentioned) but from the basis of the Economic system itself. For example Islam allows private ownership (within limits) whereas Communism completely banned private ownership. However Islam generally prohibits the private ownership of natural resources (as mentioned in the hadith about water, green pastures and fire) whereas in Capitalism any corporation can take charge of oil fields, coal mines, gas deposits etc, monopolise them and then sell them to the rest of the world (shout out to the Saud family). These are but a few examples of the differences between the economic systems of Islam, Capitalism and Communism from a fundamental level.
Overall the discussion was interesting and look forward on hearing further detail in future inshaAllah.
More information regarding the above mentioned with evidences can be found in a free pdf version book titled: "The Economic System of Islam by Sheikh Taqiuddeen an-Nabhani". Jzkk.
To shed some more light on an important point made in 12:30-14:13 in this lovely discussion. It is essentially technological disruption which begets job destruction, but also job creation somewhere else. Innovation is important in modern day economics since it generates significant value to be added in the GDP which explains why governments incentivizes subsidies to large conglomerates to continue further innovation to promote more growth and newly added jobs. A regulatory board and policymakers are definitely essential to protect the general public since the pace of innovation surpasses the rate of change in social structures.
I sincerely believe Muslim civilization should be at the forefront of emerging technology and pioneering in new fields to become a major force in the global market.
Unfortunately, that is all a pipe dream as the standard of education in the majority of Muslim world is pathetic where average people are more concerned about what a woman can wear rather than thinking about Science and Technology and this sorry state of affairs has been going on over the past 700 years at least!
To be at the forefront of technology requires mass government spending in education and R&D, population control, increased female involvement in the workforce, rapid industrialization and having an export based economy that later climbs up the supply chain (Look up the East Asian model). Some Muslim countries (Malaysia, Indonesia, and Bangladesh) have been applying that model for development and it seems to be working well.
@@ammarkhalid874 I cannot agree more! I find it quite disappointing that a significant part of the Muslim population are behind in academics. Hopefully, we will see progress in the coming generations.
@@shujakhan4252 I do applaud your optimism but unfortunately it’ll be a painful road before better times are in sight and both me and you will be long gone from this world before it happens. However, for muslims to excel in science and technology, it will require a reformation of the entire thought process of the majority of the Muslims where they will have to reconcile their belief systems with the 21st century and looking beyond to the future instead of looking back in history and hoping for that time/way of life to revive again.
@@ammarkhalid874 The love of the worldly life is the reason behind most of the problems in Islamic countries today. This is also the same thing our Prophet Muhammed (PBUH) said. Many Muslim countries are very liberal and fairly advanced, yet the living conditions for good portions of their populations are very poor (because of greed, widespread corruption and no morals).
Also you can't just change the teachings of Islam at will. If you follow values that are against the teachings of Qur'an and authentic Sunnah, you are deviating from the path of Islam.
@@infinitybay77 I will have to disagree with you. The Islamic world (apart from Indonesia, Malaysia, and Turkey) has not gone through industrialization and the standard of living is pretty pathetic compared to the Far East and the Western World. In fact, as the world moves away from oil and gas it is very much likely that India and many parts of sub Saharan Africa will also economically surpass much of the Islamic world.
You have to first define what do you mean by love for “worldly” life? Does that include improvements in education, increased women participation in the labor force, lowering birth rates, and investments in scientific and technological development? If that is so, then the way you interpret Islam is very nihilistic and this medieval age mentality is bound to only cause more social and economic unrest as the rest of the world keeps exploiting your resources.
The voice is low
JazakAllahu Khair
I love the conversation and its one I would care to see more off.
In terms of a machine taking over a persons job I don't see this to be entirely a problem as machines also require a human element for operation and support. The job function is made efficient by a machine however employment gets created for supporting such machines. For the person that no longer has the original job requires support to grow in order to shift to an alternate opportunity. (I do understand there are allot of variables during this process)
This is toooo good please do more talks like this
MORE ON THIS SUBJECT BROTHER, WE'RE EXTREMELY INTERESTED!
JazakAllah khair brothers
Strangely ebough, I didn't bothered visiting brother Subboor's channel, yet I was interested in how Islamic economic model would work for years.
Great discussion, may Allah grant you more barakah
JazakAllah for enlightening us
Very interesting discussion. The issue of If the government can tax more than zakat is thought provoking.
Muslim economic model doesn't print money, with limited amount of gold and silver the economy would deflate which is even much worst than inflation.
Can you please explain this?
Assalamualikum. Mashallah fruitful discussion. Could you guys use mics in your sessions because there's a little bit of trouble in hearing. Jazakallah.
Please make more on economics
This topic is beyond my comprehension.😵😵
The part on replacing humans with machines, if it is even right to do, yes it is when the machines do a better job, more efficiently.
Don't look at it as people losing their jobs, those people go somewhere else OR learn to operate, build, maintain those machines. Jobs lost, other jobs created. Machines can't work themselves.
You guys are from England, the street lights you see used to be oil based. There used to be someone who used to go to each one, light them up at night.
With the invention of the lightbulb, those people lost their job, but, we got something more efficient and reliable.
There are many other examples but, Inshallah you get the point.
Agree with you 100%
Not at all. There is difference between Ai and other past technology
@@mahidymahidyhas7071 Ai still needs a programer/developer.
Universal basic income will eventually arrive by then, we’re only 10 - 15 years away i think.
Automation will be everywhere soon
@@mahidymahidyhas7071 A.I is still pretty stupid if its not properly guided by humans.
Masha ALLAH good stream!
there is zakat of gold and silver of what you own not only your profitable money you have/earn
could you brothers speak louder or increase the volume of the video, Im not sure if its just me but im having to put the volume quite high in order to hear
And Islamic economic model is growing rapidly
Thank you so much....
I really have been wanting to know!!!
Brother Subhoor is actually very knowledgeable in economics and finance.
Great video Alhamdulillah
Thank you so much for talking about this very important topic that for some reason we (muslims and non-muslims) don't hear enough information about. Is it because the Arab governments don't want us to know that taxes are not allowed in Islam? I don't know... ! but this topic is extremely important! And I would love to hear more details about to educate the people world wide! 👍🏼
Thank you so much Sheik Hijab for your hard work! 💐
Arab governments don't want us to know that taxes are not allowed in Islam......"
So How Would You Expect Govt. to Work in Such Conditions?
@@srnp0007 The more you raise taxes the less people buy and therefor the more small businesses go out of business and employees lose their jobs and the more poverty and economical problems occur. This is a FACT! Now if all people would follow their religious guidance and pay their 2.5% Zakat annually most likely their economies will be much better in those countries. Unfortunately that's not the case and that's why we see a lot of poverties and unjust living situations.
@@Omar-jy1gr :-
and pay their 2.5% Zakat annually ....."
So This 2.5% Zakat is Sufficient To Meet The Requirement of A Nation?
Are You Sure ?
@@srnp0007 yes I am sure if they do it correctly. Of course governments need to also fully implement Islamic laws and not spend the countries wealth on things that are not priorities. They need to be smart, wise and start manufacturing stuff rather than buying from western countries.
@@Omar-jy1gr :-
yes I am sure if they do it correctl......"
How ?
What Do You Mean By Priorities ?
Jazakallahu khairan
Brilliant chat, it would be great to explore this economic system design further, given the blockchain technology we now have available. One point I would make is that Gold is most likely haram these days because if you peg the underlying currency on gold you give favour to the people who own the majority of the Gold, which are the ruling elite insane misers.
Interesting point, unless you own the physical gold you are pegging the crypto to, in which case it would have to be represented as a gram value and never as a dollar or any other fiat currency value. Also, you would need to have incentivize people into staying in a closed loop economy as much as possible, at first, until it gains enough economic strength and volume in trade(that is, people being able to buy into your token but not able to sell with ease or without paying a tariff to trade outside of it)
Sleeper cell spotted
@@Bruh-jw2ze lol, bruh. I think you got us twisted, not a sleeper cell, an awake cell trying to break out the matrix. Think about liberating yourself and your community from the slavery of consumerism. You think you're free when your time and energy is depreciating by the minute?
BTW, I am not talking about Islam here, just not about the mainstream lies being fed to you.
@Ibtisaam Benzoin interesting. Can you cite sources?
Great discussion
Mohammed Hijab reminds me of Umar ibn Al Khattab (RA). Both have similar physique, ancestry ,oratory skill and the all-important quality of wisdom and knowledge. If I had to give my Bay'ah to a person, it would be Mohammad Hijab.
Your disrespecting Umar RA
Subboor u should do a video with almir colan
A salaam aleikum wa rahmatulillahi wa barakatuhu. Brothers I think this is out of the above topic but I have no other way of contacting brother MH to ask him if he has come across the assertions being made by Dr Hany on his marvellous Quran series on You Tube and to please address Dr Hany's claims. Please brother MH look seriously into this as it's leaving a lot of musims confused as Dr Hany does have some valid points but on others preposterous claims and interpretations!!!!
JAJAK ALLAH HU KHAIRAN
Assalaam o alaikum
WA ALEYKOUM ASSALAM
Brother please consider increasing the audio volume of your videos. Jazak Allah
that money itself must have a value in it not just paper the money itself must be gold or silver
search ( Goldback money topic )
also another solution is debit card linked with your bank account of gold and silver deposit
or both approaches
MH mentioned “Islam encourages against against slaves and it encourages against the emancipatory discourse”. Did he mean to say it encourages “against” emancipatory discourse? What is wrong with emancipatory discourse? Does it infer societal disruption? Or perhaps a mistake…
islam encourages freeing slaves...nowadays there are invisible shackes of debtt
@@persianprince2012 except wars? its full of enslaving people and women!
@@jammapcb someone gotta take care of the women whose husbands/fathers died in war....so better take them as companions and muslims can take care of them
@@persianprince2012 meanwhile in reality, that does not happen regardless of religion lol
You didn't incorporate how money itself is different in Islam vs today westernized system. Islamic money was in gold, silver etc. so its tangible ..meaning it can be converted and used in different ways. Today, its fiat paper money. Can't really be used in any other way. The price of all todays money is interest rate which controls the money supply
@Palestine Forever looks interesting. Will take a look at it. jazakAllah khayr
What about Islamic system of governance ? Isn't it our duty to establish it ?
Love you brother like always
الحمد لله
Hijab humiliated that Hindu woman.
Salam brothers, just a quick question Ustadh. Subboor, are you pro crypto?
Theres too much gharar (ambiguity and uncertainty) in crypto. Its best to avoid it as Muslim.
You need to have Peter Schiff on. Economics and the correlation it had with Islamic doctrine is what really solidified my faith in God. My proof of God is really in economics.
@Ibtisaam Benzoin yes. The concept of individualism, the free market, the invisible hand, limited government, voluntary transactions, supply and demand, limited resources, gold standard, the properties of gold, debt, etc.
Otman Zayer these all fall within the scope of Islam.
@@nolhman123 Yes, its sad to see many of my Muslim friends get attracted to socialist ideas, even more so in Europe than here in the states. Many Muslims used to be fiscally conservative but now many have been led astray to collectivist ideas and ideas of big government providing for them and nurturing them, too bad they cannot see the true dangers in that.
These videos are a treasure that little people know of.
7:59 technically there could be that there wont be any resession, bcause often recession is bcause of some sort of injustice done by business people or not paying zakat and such, i mean if u uphold 100% Islamic values, then i think there has been few societies that are so rich that can't accept zakat at all. thus it can be done that there is no recession what so ever.
It's so easy to counter dumb nonsense like "gods-believing". Especially if it tries to shoehorn itself into real world aspects, like making money to survive...
giving charity every now and then is also important
also discussing taxing part takes will not have that much of importance//necessity if all Muslim nation /countries are united there is no border in first place to be limited with certain economy or natural resources you can simply migrate to another Muslim land which can benefits you better
Audio needs to improve
Audio is good
Allama Iqbal wrote in one of his poems, "The fact concealed in words so far, 'Kulil Afwu',
May come to light in modern age and make the meanings clear and bare".
'Kulil Afwu' is in the Quran (2:219) which points to spending the excess [beyond needs]. Towards the end of your discussion you were pointing out to the over-burden of taxes being levied after zakat being taken by the state. But in light of this verse, and the modern increase in what we classify as excess [beyond needs], don't you think that in some way this verse can be applied by the state in some way?
Thank you 🎉🎉🎉
As Salaam Alaykum. Research Islamic Muamulat.. And lectures by Shaykh Umar Vadillo. He is an expert on the Islamic economic model.
Thank you so much
Slavery exists today but in a different format - its now exhibited in the massive wage disparity between the nations. In the poorer nations (many of which have been economically and militarily suppressed) billions of workers earn a few dollars per day making things that the rich countries need. With that few dollars, they are expected to feed and clothe their families, pay for housing, pay for transportation, pay for medical bills etc etc. Slave owners used to pay these costs for their slaves and if slavery were around today, it would cost a lot more than a few dollars per day to look after them. Slavery still exists with the illusion of freedom. Why is the daily Labour of someone in pakistan or Kenya or any poor nation worth less than a third of the hourly wage of someone in a developed world?
Thank you
In an Islamic model how can the government gather money to pay for infrastructure?
pakistani and egyptian economies are thriving lol.
This is partially incorrect, boom and busts can happen outside of general riba, it is because of currency manipulation and interference in the market place. In real boom and busts obsolete sectors are wiped out and capital (money) is diverted to productive sectors developing them out.
A productive society should always bring prices down (deflation), therefore the value of your money keeps increasing without riba. And the zakat will ensure hoarding won't take place.
I saw you this morning on bus in Oxbridge.
Modern tax system is progressive taxation which means by growing income, state will tax more. This system is implemented in most capitalist system even USA. So your narrations that modern capitalist system, rich people pay less tax is blatantly false. Islam do not favor taxing rich people, since they are wealth generator. Zekat in Islam is simple, low and not progressive, which is totally opposite of modern tax system.
And speaking about technology replacing man power, how can you put a fatwa against that?
Why is self service machines replacing 8 men the line, I’m sure back in the day, an Ox ploughing the field took the job of 8 people
I agree, such a short sighted idea to ban technology to save jobs.
Misguided ideas like that left Islamic countries (once the leaders of scientific innovation) way behind the West in terms of progress and technology 😩, there are other solutions to structural unemployment.
@@ok00001 yeah i agree with you. A steady transition will move employment towards sectors that need it.
With the correct plan and investment you can smoothly transition but a blanket fatwa against technology isnt the way.
You confused interest rate with rebah. They are different. You can not reach zero interest rate unless by printing money, which is most horrible economic phenomenon and more worse than rebah. Actually zero interest rate is ideal of current capitalist system, and in some time , the real interest rate is negative. Spending economy is Keynesian economy not Islamic which is viable by intrusion of property right. interest rate is price of time and its role is coordination of time transactions. Read about market and interest rate from Hayek and Mises.
They're blinded by their faith. Won't listen to what you say. They have to protray their belief system as something that solves all the problems. Listen to Mr. Hijab say " we will use a huge portion of zakat to free slaves/modern slaves". Pretty much what modern government does with police and tax money.
How are they different?
Considering the current interest-based financial system being the core of our economy. It is extremely difficult to introduce new models compliant with Sharia.
Does anyone else think that decentralised digital finance can be a platform to introduce a completely interest-free financial system?
Blockchain-based lending and borrowing protocols like Aave, Compound, Cream finance are few examples and their adoption is growing exponentially.
I'm not an expert in the field, but I think it's something worth looking at.
please share your opinion.
❤️❤️❤️
maybe its my laptop but the audio in this video is not that loud
Buy a new Notebook but avoid Chinese ones
Best video ever
السلام عليكم
salaam please explain to me chp5v 117-118 why did isa ibn maryam (as) say that he had no knowledge of the condition of Christianity if he will return again jzk.
Brother Suboor does'nt look like Karl Marx, Karl Marx looks like Suboor.
ما شاء الله
Can't hear Mohammed Hijab. Please get better mic 🎤🎤🎤🎤🎤🎙️🎙️🎙️🎙️🎙️
Fiat currency is absolutely haram for so many reasons that I can’t go through in a TH-cam comment, so I’ll give a couple, increasing the money supply devalues the currency which is haram because it’s practically a tax, and taxing people beyond the zakat is a major sin in Islam, also devaluing people’s property is the sin that the people of Median got destroyed for, as Allah says in the Quran “don’t devalue the property of people”, it also gives an unfair economic advantage of a group of people over others like we see today our enemies have over us, it also gives them a monopoly which is also forbidden in Islam, value is also only created by Allah and is placed in items like gold and silver, giving someone else that power is shirk, and it eventually leads to disaster, as we know all fiat currencies eventually go to their real value which is zero.
da a video about jin with mohammed hijab that will bang
Salam bro please use a mic I can't hear anything lol
Can you recommend some books about it
I love this topic. Islamic money is gold and silver. This is real money and it has been money for thousands of years. Booms and busts are caused by interest. It screws up natural supply and demand in the market. Allah has cursed interest for a reason. Currently we have a mixed economy. Pure capitalism is based on voluntary exchange while pure communism is the collective ownership of everything. Islam is closer to pure capitalism out of the two. It is a mixed economy based on Islamic law. Technology taking away jobs is called the Luddite fallacy in economics. You see the jobs taken away but not created by the technology. If this was true then we would be better off digging with our hands.
I would appreciate if you two look into Richard Wolff's interpretation of Marxist ideology, where democracy WITHIN work place/ production is something that is encouraged. Which is something that seems can work with Islam. And also please react or respond to his lectures on Marxism, which addresses the dark history etc.
Marxism is the antithesis of Islam and a flawed ideology that has caused countless deaths.
What are you talking about "economic model"?
Shouldn't you be "humbly" talking to yourselves 50 times a day? Facing a certain geological location?
Why are you on this video in the first place, take your butthurt crying elsewhere
Islamic economy model protects people’s dignity ...
(273) [Charity is] for the poor who have been restricted for the cause of Allāh, unable to move about in the land. An ignorant [person] would think them self-sufficient because of their restraint, but you will know them by their [characteristic] sign. They do not ask people persistently [or at all]. And whatever you spend of good - indeed, Allāh is Knowing of it.
Is Muhammad Hijab and you are any way related to Hizb Ut Tahrir Britain?
Some very good remarks but economics does not seem your strong point. If you stop innovation in the long run you will not be able to compete. Also innovation brings other different jobs. The question is how to manage the transition.
Also if you only have zakat as “tax”. How wil you pay all other expenses, like for building infrastructure, education etc.?
@Subbor Ahmad any document to read?
Please work on Hijab's voice, it's very low. He is already hard to understand due his talking style and this low sound makes it worse!
Why did your "prophet" have to bargain from 50 times talking to yourself a day to 5 times a day?
Is your "supreme being" not "economically inclined"? Did it forget about keeping yourself alive TO talk to yourself?....
Weird...