Part 1 of 2. Dr. Hussein Hamid Hassan discusses the Islamic Financial System, regarding Musharakah (Sharing).
If you are innovative, and have no money, the Islamic Financial System could make your dreams come true. Islamic Financial System is based on equity, and removes injustice.
Dr. Hussein Hamid Hassan is considered as the father of Islamic finance. He received his PhD from the faculty of Sharia at the Al Azhar University in Cairo in 1965 and holds two degrees in law from the International Institute of Comparative Law, University of New York. He chairs the Sharia Supervisory Committee of many Islamic banks in the Middle East, and has advised several governments.
An expert in Law, he had been the attorney general for the government of Egypt between 1969 and 1970. He has advised several governments in the Middle East and CIS countries on establishment of Islamic Finance Institutions. According to Mr Hassan, Islamic financing is the most equitable form of financing since it enables the creation of wealth without fuelling inflation or stoking a financial crisis.