“O those who believe, fear Allah and give up what still remains of the riba if you are believers. But if you do not, then listen to the declaration of war from Allah and His Messenger. And if you repent, yours is your principal. Neither you wrong, nor be wronged.” (Al-Baqarah 2:278-279)
Financial transactions, in our Digital Age, are more complicated than ever. The line between halal financial matters and ones that are haram continues to blur on a daily basis. It is difficult to understand our current monetary system, which is often rife with riba. As a result, there are many myths that abound and make it increasingly difficult for Muslims to make halal financial decisions.
Did you know that all of your financial decisions are affected by our current monetary system? Or that banks use clever tactics to lure you in with loans that will tangle up your financial future in a web of riba?
To help make sense of the madness, Ilm Institute presents, “Money Myth” by Sr. Hamida Mubasshera to unravel the myths surrounding our current monetary system once and for all. This course will cover everything you need to achieve financial bliss. Insha’Allah
You Will Learn:
- How our current monetary system affects our daily financial decisions
- Reasons why the cost of living keeps going up and up
- How eliminating interest can help fight inflation
- Whether or not riba is an effect of inflation
- Why banks entice customers with loans
- How to manage debt
- & so much more!
Course Curriculum
| Module 1 | |||
| Introduction | 00:10:00 | ||
| Types of Money | 00:12:00 | ||
| Evolution of the Current Monetary System I | 00:18:00 | ||
| Evolution of the Current Monetary System II | 00:18:00 | ||
| Evolution of the Current Monetary System III | 00:10:00 | ||
| Evolution of the Current Monetary System IV | 00:11:00 | ||
| Evolution of the Current Monetary System V | 00:12:00 | ||
| Snapshot of the Evolution of the Current Monetary System | 00:08:00 | ||
| Module 2 | |||
| History of Current Monetary System | 00:13:00 | ||
| How Bank Creates Money in the Current System | 00:17:00 | ||
| How Much Money is Created | 00:20:00 | ||
| The Role of Central Bank | 00:14:00 | ||
| Quantitative Easing and Liquidity Trap | 00:15:00 | ||
| Module 3 | |||
| Characteristics of Current Money | 00:12:00 | ||
| Characteristics of Credit Money | 00:06:00 | ||
| Default in the Current System | 00:22:00 | ||
| Current Money-Misallocated at Source | 00:18:00 | ||
| Module 4 | |||
| Endemic Inflation-Our Regular Companion | 00:19:00 | ||
| Impact of Inflation on Our Daily Life | 00:14:00 | ||
| Impact of Systematic Default on Our Daily Life | 00:08:00 | ||
| Impact of Debt Culture on Our Daily Life | 00:14:00 | ||
| Impact of Growth Imperative of Our Daily Life | 00:09:00 | ||
| Behavioural Impact of the Current Monetary System I | 00:10:00 | ||
| Behavioural Impact of the Current Monetary System II | 00:16:00 | ||
| Concluding Remark | 00:04:00 | ||
| Final Exam | |||
| Final Exam | 00:30:00 | ||
Kudos!
I am very glad to have finished this course’ money myth’ the Sister that handled it was very good and moderate in-her explanation . Jazakumu Llahu khairan to the organizers of this empowerment course. Thank you.
Money Myth
It is amazing all the things one doesn’t know about money, because nobody is talking about it. After taking this free course, I dove right in and am taking Sister Hamida Mubashera’s Debt course. Worth its weight in gold.
Alhamdulillah
Alhamdulillah. Learned a very important thing about what was unknown to me.
Jazakallahu khairan