Islamic-Entrepreneurship-by-Rushdi-Siddiqui

1. “Islamic Faith & Business/Entrepreneurship” • Rushdi Siddiqui • Co-Founder/CEO, EMStartups.ai • (A Dash for Startups)

2. Presentation History Rules of Engagement Ethics: Avoid malicious behavior & Show gratitude Golden Age, 7th to 13th Century: Disruption, Innovation & Inventions Islamic Fintechs AI Due Diligence Conclusion

3. ‘Read! In the Name of your Lord Who has created (all that exists)...Who has taught (the writing) by the pen…He has taught human that which they knew not.’ al-‘Alaq 96:1-5 ‘But Allah has permitted trade and has forbidden interest. .’ Quran 2:275-279

4. A. Fiqh Muamalat (Rules of Engagement) Divine Consumer Protection Code Faith, Conduct & Legal Injunctions Address invariable ‘imbalances’ in Society Promotion of Equity & Alleviation of Poverty No One Left Behind??? Concentration of Wealth Monopolistic Practices (Trade) C. School of Islamic Law (Sunni) B. Source of Islamic Law 2. Sunnah (Deeds & Sayings of Prophet (PBUH) 1. Koran (350 Verses out 6200 ‘legally oriented’) Hanafi (Earliest School Iraqi jurist, Turkey Fertile crescent..) Maliki (2nd School, Medina… North African Countries) Hanbali (4th, conservative… Wahhabism, Saudi Arabia) Shafi’i (3rd, Sunnah focus India, Indonesia..) 3. Qiyas (legal Analogy) 4. Ijma (Consensus of Scholars) D. Permissible unless Prohibited Condition Permissible Activity (includes usufruct) Misr (Speculation/Gambling Excessive Risk) Gharar (Uncertainty, Excessive Risk) Interest/Usury (Increase W/O Effort) E. Law of Transactions (Fiq-ul Maumalat): Sampling of Modes of Contract Non-Banking -Sukuk (Bond) -Takaful (insurance) -Mutual funds -Micro-finance Profit & Loss Sharing: -Mudarabha (capital provider & labor provider) -Musharaka (multiple capital providers & project) Asset Backed/Debt Like Financing -Murahbaha (cost plus financing 🡪 Mortgages) -Ijara (lease 🡪 Vehicles/White good -Salam (cash advance for Agriculture products) -Istisna (cash advance for manufacturing of asset)

5. Biz/Wealth Wealth belongs to Creator For mankind & entrusted (Concentration of Wealth) Motivation Islamic Economics Human Nature Guidelines Ways & means to Achieve success iBanking, Islamic fintech Insurance (Takaful Tech) iCapital Markets (Prohibition against Interest) ‘Khalifah,’ duty or Steward to dev prosperity & biz is Ibadah (worship/good Deed…Knowledge Hubs) Permissible business Buying/Selling Zakat Principles Based: Islamic Biz/Entre Integration Ethics Avoid -malicious behavior Show -Gratitude No Separation: Business & Religion

6. Fulfill your covenants Be Honest All Times Overlook fault of Others Wasteful/Extravagant Treat People with Kindness Do not cheat in business

7. https://www.intechopen.com/books/entrepreneurship-contemporary-issues/halal-entrepreneurship-concept-and-business-opportunitieshttps://www.intechopen.com/books/entrepreneurship-contemporary-issues/halal-entrepreneurship-concept-and-business-opportunities

8. Golden Age 7th to 13 Century Disruption, Invention, Innovation (Stewards For Community: Knowledge Hubs) https://www.1001inventions.com/feature/house-of-wisdom/

9. Baghdad: House of Wisdom California: Apple Headquarters

10. Disruptions Camera Technology Imaging, Biometrics (facial recog) https://www.1001inventions.com/feature/house-of-wisdom/ http://www.cnn.com/2010/WORLD/meast/01/29/muslim.inventions/index.html

11. Disruptions Data Data Analysis AI? Health-Tech https://www.1001inventions.com/feature/house-of-wisdom/

12. Disruptions Agric-Tech Smart Farming Off-line platform of Trade: Alibaba Fin-Tech

15. https://www.crunchbase.com/organization/wahed-invest-inc

17. Conclusion https://www.weforum.org/agenda/2021/02/resilient-recovery-cities-pandemic-climate-adaptation-response?utm_source=twitter&utm_medium=social_scheduler&utm_term= COVID-19&utm_content=03/02/2021+18:30