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Ethis Podcast

Ethis Podcast

By Ethis Podcasts

We discuss a range of topics from the Halal economy, Islamic finance, fintech, start-ups to tourism, education, and the future of Islamic Finance among other topics. Today, things are constantly changing so listen in to our episodes that feature industry thought-leaders, business leaders, and other experts worldwide to get insights about current and upcoming trends. This podcast is produced and run by Ethis, a pioneer in Islamic Crowdfunding with platforms and offices in Dubai, Malaysia, and Indonesia. Visit ethis.co and blog.ethis.co to learn more!
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Currently playing episode

Waqf & Islamic Finance: A candid talk with Dr Shamsiah

Ethis PodcastSep 17, 2020

00:00
35:15
Exclusive Insights into the Indonesian Hajj Fund

Exclusive Insights into the Indonesian Hajj Fund

Hajj is a religious pilgrimage and is obligatory upon all adult Muslims who are physically, mentally and financially capable to do so once in their lives. In 2019 alone, there were nearly 2.5 million pilgrims that performed Hajj. Every year, there are many Muslims around the world who would like to perform Hajj however, there is a limit on the number of pilgrims per country who are able to do so. 

Indonesia is the country with the largest Muslim population and has a queue of 4.5 million people who would like to go for Hajj with the waiting time being as long as 38 years in certain parts of the country! Hence, due to this reason and to ensure that only those with the financial means to do so go, payment is required to secure a seat in the queue. This has resulted in a fund worth $139.5 trillion rupiah that is managed by the Haj Fund Management Agency or Badan Pengelola Keuangan Haji abbreviated as BPKH. But what exactly is the fund's purpose?

According to Dr Hurriyah El Islamy, a member of the executive board in the said fund, it is meant to generate good, Shariah-compliant income for the Hujjaj (pilgrims) so as to ensure that there is enough profit each year to subsidize Hajj for the pilgrims, to have better facilities for them and generate income for those who are awaiting their turn in the queue. How is this done though? Did COVID-19 and the cancellation of Hajj affect plans? What will happen next?

In this episode, Umar Munshi, Co-Founder and Group Managing Director of Ethis Global interviews Dr Hurriyah El Islamy, a member of the executive board in the Hajj fund for the Republic of Indonesia. She was appointed by the President of Indonesia, Joko Widodo. Previously, she was a consultant for the President of the Central Informatics Organisation in Bahrain. She has also served as an IFN Advisory Board member, Shariah Board Member and Strategic Advisor of Islamic Fintech Alliance and also as the Head of Professional Development in AAOIFI prior to which she served as AAOIFI Shariah Central Board Working Group member. In addition, she was an IMF expert in Islamic Finance and a member of the Islamic Finance Advisory Council of the AIFC. Join us as they discuss fintech, investing in Indonesia, Dr Hurriyah’s background and her current work.

You can also find and share this article at https://blog.ethis.co/podcast-dr-hurriyah/

Oct 20, 202037:32
The impact on the role of Islamic Finance in a pandemic world: Expert’s Opinion
Sep 30, 202032:30
Women in business: it is never too late to start your own business

Women in business: it is never too late to start your own business

It is often said that women in business face a different playing field than their male counterparts. What are the challenges that they face and how do we level the playing field? According to Madam Fadilah, the Chairman of DEWI@SMCCI (the Women’s Wing of the Singapore Malay Chamber of Commerce), some of the solutions include changing the expectations on women and having men take a more active role in household/child-rearing activities.


Aside from empowering women to be entrepreneurs, Madam Fadilah is also one herself after having made a drastic change in her career. Switching from a stable career to entrepreneurship is not a path that many would choose to take but our guest is one of the few who did. After 27 years in her successful writing career, she decided to set up Bizmedia Publishing and also became owner of SpaJelita, the only Arabian spa in Singapore. Utilizing the knowledge gained from her experience as a journalist and business editor as well as the advice received from the numerous successful business owners, she is now successfully running her own businesses.


In this episode, Umar Munshi, Co-Founder and Group Managing Director of Ethis Global interviews Madam Fadilah A. Majid who is currently the Managing Director of SpaJelita Pte Ltd. In addition, she is also the Vice-President of the Singapore Malay Chamber of Commerce (SMCCI), the Chairman of DEWI@SMCCI (the Women’s Wing of the SMCCI), and the Director of Business Development for Bizmedia Publishing. Madam Fadilah also leads SMCCI’s Wellness Cluster. The interview will touch on the challenges that women in business face, how the playing field can be evened out, how COVID-19 has affected the wellness/beauty industry, the change in the way that people work and lastly, her advice to business owners.


You can also find and share this article at blog.ethis.co/fadhilah-majid-podcast/

Sep 17, 202037:46
Islamic Finance: Investing in Schools

Islamic Finance: Investing in Schools

When it comes to education, it can only go so far and putting the things that one has learnt into practice is what makes it effective. Education especially in business should follow this thought. According to Almir Colan, a Director of the Australian Centre for Islamic Finance (AUSCIF), a setup like Silicon Valley should be established for Islamic finance so that people can learn from established entrepreneurs and under their guidance be encouraged to start a business. In addition, Almir argues that Islamic finance goes hand in hand with the Islamic economy and that if we want to see something out of Islamic finance, we should start to invest in our schools. Furthermore, we should orient ourselves, the business sector and education sector in such a way that everyone is taught how to start a business regardless of their job or career. When a number of people in each profession start their own businesses and employ the rest, production happens and employment can be provided for all.


In this episode, Umar Munshi, co-founder and Group Managing Director of Ethis Global interviews Almir Colan, a Director of Australian Centre for Islamic Finance (AUSCIF). Almir is a prominent figure in the Islamic finance industry and serves as an advisor to community finance and investment institutions. Furthermore, he is also the CEO of Olive Investments, an investment firm committed to an ethical portfolio in the Australian healthcare sector. He was previously a consultant lecturer at La Trobe University Australia and is a member of a working group of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). Join us as Almir shares his experience with AUSCIF, the role Islamic finance can play in the current crisis and some advice for new businesses looking to adopt Shariah principles.


You can also find and share this article at blog.ethis.co/almir-colan-podcast/

Sep 17, 202033:00
A Growing Opportunity: The Halal Economy
Sep 17, 202025:30
The Future of Tourism Post-COVID-19
Sep 17, 202027:33
Waqf & Islamic Finance: A candid talk with Dr Shamsiah

Waqf & Islamic Finance: A candid talk with Dr Shamsiah

Waqf (voluntary charitable endowment), zakat (obligatory charity) and sadaqah (voluntary charity) are some of the cornerstones of Islamic social finance. Their impact and benefits are far-reaching and can be seen globally. In Singapore, the Yemenis — the Alsagoff, the Aljuneid and so on — were the ones who created the waqf and the income generated from that waqf or its capital is being disbursed globally. Embracing technology has definitely helped with the implementation of these cornerstones but are there some potential drawbacks of these actions especially when it comes to the older generation? What about those who are unable to embrace technology?


In this episode, Umar Munshi, Co-Founder and Group Managing Director of Ethis Global interviews Dr Shamsiah Abdul Karim who is the CEO of PERGAS Investment Holdings, an affiliate of PERGAS, the Religious Teachers and Ulama Association Singapore. In addition, Cambridge IFA named her as one of the top 20 most influential women in Islamic Finance. Previously, she was the Senior Vice-President at Bank Muamalat, the CEO of Albukhary Foundation and Deputy Director of Asset Development at MUIS, the Islamic Religious Authority Singapore. While at MUIS, she was instrumental in setting up and operationalising their subsidiary Warees, which developed the majority of waqf land in Singapore with an asset value of more than SGD700m today. The discussion will touch on the potential and challenges of waqf as well as zakat, what she is currently working on, embracing technology and closing the gap with the older generation, how COVID-19 has affected our society as well as her advice to young people today.


You can also find and share this article at blog.ethis.co/waqf-islamic-finance-dr-shamsiah/

Sep 17, 202035:15
Moving on to a new normal: the new solutions and discussions that challenge the status quo

Moving on to a new normal: the new solutions and discussions that challenge the status quo

COVID-19 has disrupted the lives of millions of people and the scale of its impact is unlike anything anyone has ever seen before. Discussions have been taking place all around the world on what steps should be taken next but there seems to be a general consensus that things will not revert back to normal and there will instead be a new normal or modus operandi. While there is no denying that there are devastating consequences to this crisis, some might argue that there are silver linings in the midst of all this as the pandemic has forced us to relook at the way things are being done and challenge the status quo to change things for the better. For example, people are questioning whether the creation of debt is something that we should continue to do. Additionally, concepts and solutions that were previously disregarded because they had the term ‘Islamic’ in them are now being re-examined and people are willing to listen.

In this episode, Umar Munshi, Co-Founder and Group Managing Director of Ethis Global interviews Daud Vicary, the Managing Director of DVA Consulting Sdn. Bhd and partner for Gateway Global, a leading Shariah-compliant professional advisory firm. Daud is the former President and Chief Executive Officer of INCEIF, the Global University of Islamic Finance. He is active in advisory around financial services, Islamic Finance, entrepreneurship, social impact finance, and education. A frequent speaker and commentator on matters relating to Islamic finance, he has co-authored a book on Islamic finance entitled “Islamic Finance: Why it makes sense”. They will discuss the impact that COVID-19 has had on our society and norms, ‘new’ solutions that people are now re-examining, changes in Islamic social finance, how we should look at the future and Daud’s advice to young people.


You can also find and share this article at https://blog.ethis.co/daud-vicary-podcast/


Jul 26, 202030:13