11/10/2026
A conversation in an Alumni group.
Q: In a fully Islamic environment, how would the stock market realise itself against the various market dynamics and parameters as they are prevalent on Wall Street today?
What adjustments will there have to be in order to be in line with Islamic conditions and requirements for an Islamic functioning of the stock market?
A: First is there going to be a stockmarket like we understand today?
Many current transactions common today will be thrown out of the window.
Firstly you can't sell something you dont own.
No sale without full payment.
No 3+1 nonsense that allows suffering to people.
No short selling.
It is truly an investment mechanism for the long haul.
If you own a few shares you want to exit, fine.
Full cash payment to you before transfer of ownership.
So nobody can push up the price of a share rapidly for speculative profits.
The trouble is we are bending over backwards to approve illegal transactions Islamically.
We will receive many surprises in Mahsyar.
Prophet s.a.w. says mafhum things are judged based on intentions alone.
Many of today's approved transactions will fail the test.
And the Prophet s.a.w. also says mafhum, if something is syubahah and unclear leave it, and move on to something clear.
We need to understand, what our Western world viewed education, have done to us.
We throw away demands of Quran and Sunnah to be like the West.
We even think like them!
Many dont even realise this unless we do a full honest instropection of ourselves, kenal diri.
For example - the question the West is used to asking, and we often mimic, has this been done anywhere, we say to a rule demanded by the Quran?
Like the West, we pursue nothing in our view is impossible, even if demanded to by the Quran.
There are rules of Istihsan but it is never meant to be forever, but we are ok with forever.
We have Economists that quote jahil western economics solution to implement in Malaysia.
We have a central bank who seems to uphold riba as their additional rukun iman.
We do not have people that matters who have the intellectual capacity to fight for the truth.
We have Islamic leaders who wants to rule the country but understand zero about Monetary system, and too arrogant to learn.
That arrogance actually covers all current leaders whichever party.
And we have to Islamise the system thoroughly.
Zero riba.
Not just the stockmarket but the whole monetary and banking system.
And we do it without touching the USD as international currency.
Let Russia and China fight that, we support.
We double and treble our economy with fair income to the ummat.
US will not send jets to Malaysia because we do not touch USD as international currency.
International trade we Islamise with fellow Muslim countries that agrees.
We adapt with non Muslims.
Istihsan allows us to deal with them in the way they are used to unless they agree to our way.
Zimbabwe, US jetplanes and Zero international trades are just bisikan syaitan.
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