Learning to say no to free money | Adel Bereksi & Ahmad Ayoubi | Enough episode 6

And maybe before we sort of dive into some of the things I wanted to pick out with you, one of the things that we're really interested in at Prosper is just improving people's understanding of the world of investing and what it means And I think in your guys' particular case, you've got a mission that is around halal investing.

Now, we talked before we started, I consider myself an investor.

I wouldn't know whether I'm a halal investor or not.

What does it actually mean? Help us understand it.

If we just take it from a really simple high level.

First things first is you are an investor.

You know what? I actually think a lot of people don't know what investor even means.

But we've maybe parked that for now.

Let's assume that people know what investing means.

Halal investing basically means where you're putting your money, you're a little bit more conscious.

So you're not going to fund anything that you don't personally align with.

So when we invest into the stock market, for example, we try and avoid companies that are in the defense sector.

We try and avoid banks.

We try and avoid any businesses that really deal with alcohol or gambling, things that generally are impermissible in our religion.

Okay.

And I'd really say, first level, that's the simple as it is.

Yeah, the other big part of halal investing or sharia-compliant investing, however you want to approach it, is the idea of not taking on any interest.

So a lot of companies in the world, they deal in interest, even if it's a company like Apple.

They're a bone maker, they make a system, they make all sorts of stuff, but They incidentally also earn interest.

They also pay interest in terms of the loans that they take on.

So there is an initial layer of making sure that the company is not in a sector which is impermissible Islamically, or one which is morally wrong, but also looking at how much they pay in interest and how much they earn from interest.

Okay.

And are you saying that

from the point of view that there's a beyond a certain... level that becomes exploitative is that the

the angle or is it there's difference of opinions in terms of what so the prohibition in islam is all about usury so usury is primitive and it's called riba