Can Mortgages be Islamic? | Harris Irfan | Islamic Finance Podcast Ep 1

In this first episode of the Islamic Finance Podcast series, on the sofa, I am joined by Harris Irfan, CEO and Founder of Cordoba Capital Markets Ltd.

Often the perception is you need a large amount of money to get into property, although that can be the case it doesn't necessarily have to be that way, there are many different ways to make money from property.

The biggest challenge is that many of them can't be done in a Shariah-compliant way. There are however some strategies and techniques that can be used to make significant profits from property.

I have put together a short training course that explains how to make money from property in a Halal and Shariah-compliant way.

0:00 - Introduction - Harris Irfan's opinion is Islamic Banking has failed Muslims in the UK
3:18 - Taking a step back with a history lesson in Islamic Banking
5:43 - Limited choices for Muslim Investors or Shariah compliant products
8:38 - At the other end of the spectrum of Islamic institutions
9:58 - How to make money from property in a halal way with training
13:45 - The British Islamic Banking scene
15:28 - Banking is creating money from nothing
17:07 - One definition of Riba
20:00 - Islamic Fintech products out in the market
23:00 - What or Who do Islamic Banks finance or service
26:57 - How governments and countries manage gold reserves
30:51 - Can you really trust your local currency
33:43 - Is Bitcoin the solution
38:36 - How the Muslim community as a whole is treated
43:23 - How Investment in Property can be funded in a halal way
49:54 - The message behind the book: Heaven's Bankers: Inside the Hidden World of Islamic Finance

To learn more about creating profit from property in a Halal way from Saj:

Learn more at our next property meet

You can reach out to Harris Irfan by clicking here:

𝗛𝗼𝘄 𝗰𝗮𝗻 𝗜 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂?
There are three ways that I can help.
• Show you how
• Do it with you
• Do it for you

𝗦𝗵𝗼𝘄 𝘆𝗼𝘂 𝗵𝗼𝘄
Our most popular programme is the Deal Finder Intensive, an 8-week programme with guaranteed results. It’s currently sold out and you can join the waiting list for the next intake.

𝗗𝗼 𝗶𝘁 𝘄𝗶𝘁𝗵 𝘆𝗼𝘂 - 𝗚𝗲𝘁 𝗠𝗲𝗻𝘁𝗼𝗿𝗲𝗱 𝗕𝘆 𝗦𝗮𝗷:
If you want to achieve your property goals with the support of an experienced property mentor, then my Inner Circle Mentoring programme is probably just what you need. Find out more here:

𝗗𝗼 𝗶𝘁 𝗳𝗼𝗿 𝘆𝗼𝘂 - 𝗜𝗻𝘃𝗲𝘀𝘁 𝘄𝗶𝘁𝗵 𝗦𝗮𝗷:
To learn more about property investing with me click

𝗠𝗲𝗲𝘁 𝗦𝗮𝗷 𝗮𝘁 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗠𝗲𝗲𝘁
Come to one of our property networking events, you can find out more and book your tickets here

𝗦𝗼𝗰𝗶𝗮𝗹 𝗟𝗶𝗻𝗸𝘀:

[AI_MI_guy]

Brilliant thought-provoking pod. To "replicate the return from any investment product" - Nuclear!

[astroflyinsights]

12:41 elephant in the room: sukuk turned out to be "asset based" rather than asset backed. This echoes the slow creep of the West to "beneficial ownership" rather than outright ownership.

[ORIGINALdodi]

Very interesting podcast, so many great points discussed which many of us aren’t familiar with.
Thanks for sharing! ❤

[MudassarMahmood-vc]

Decided to step away from property development after my first 2 projects, I really enjoyed it but unfortunately there was a nagging feeling inside that it wasn’t right, waiting to see if we can get decent halal finance in the near future, may Allah guide us all

[sumom]

Wow amazing value of knowledge thanks ❤

[KhalidKarim]

Been waiting for this series for a long time, great insights to the beginning of Islamic Finance in the UK.

[structureone]

Thanks Saj bhae for bringing out this episode, very insightful

[iramshah]

So informative and really encouraging for us newbies to see established Muslim guests that have grown their wealth in a halal way, so we can do the same!

[allykhan]

Fractional Reserves! Can't be halaal. And islamic banking can't tear it away from being part of fractional reserves.

[khadeemrumjaun]

Love this. Need more podcast like these.

[ctrldelete]

The problem with Riba is it causes worldwide reverberations: the cost of living to rise, starvation, oppression, ripping off, poor remain permanently poor the list goes on and on.

There is a disturbing hadith to what a small piece of riba is compared to.

God wages war against those who consume the fat of riba.

It was better to live 100 years ago and before than to live today with this massive sin on mankind.

May Allah the lord of the worlds have mercy!

[anonymousmaster]

Separate banking, separate laws. Dodgy guys infiltrate the u.k. and turn your house into a hmo.

[mohmda]

I did advisor exam 20 years ago. Had real intentions of only doing islamic home purchase plan type of products. Within one year stopped trying. Not the right products or the right customers unfortunately, therefore i left the industry totally.

The products were and still are grey area in my opinion. Anyone looking into this area, simply read "rent to buy" and it'll make sense moneywise. Ethical banking and islamic finance still has a difference unfortunately -do your research before buying your only home via these plans.

[syedabadar]

Life will be lot more easier having islamic finances. Especially people who are reluctant to use interest based finances.

I really pray that one day insha'Allah will see that day that Muslims are enjoying Islamic finances.

[AM-uoyn]

All religions are man made. The INTEREST system is also man made. Therefore, one should follow common sense and do what is best for oneself.

[jod]

Oh wow, I never expect that- he will call BTC, the real money!!! I love BTC.

[syedmaricar]

Everything is changing due to expert's in the field of finance.

[abdillahiosman]

I want to start my first property company in order to get mortgages.

[krasavchik]

Islamic Banking can exist and even be profitable, but not in the current system. There has to be a truly limited source of money, for Islamic banking system to work. Gold is a great example. Otherwise there is a depreciation, and fixed pre agreed upon income for Islamic bank is not possible as there is no knowledge of how valuable money will be 10-20-30 years down the road.

[aziz]

as a normal user my question is still same, is it good and interest free to go for home finance with islamic banking such as, ADIB or Dubai Islamic Bank? or interest involved?