Islamic finance is now a multi-trillion-dollar global industry. But has it drifted away from what it was originally designed to achieve?
In Episode 80 of Majlis & Markets, Hassan Jivraj is joined by Harris Irfan, CEO and Co-founder of Cordoba Capital Markets, to examine why Islamic finance struggles to reform and why meaningful change remains so difficult. The conversation questions whether blind support for an established industry has created unhealthy, asymmetric financial relationships, and whether a more ethical, partnership-based alternative can realistically emerge.
We discuss the purpose and limits of Islamic finance standards, the role of regulation and enforceability, and why investors may increasingly seek alternative financial models that better align with ethical investment principles. The episode also explores Bitcoin, crypto, digital currencies, and whether the future of finance will move towards healthier economic relationships for borrowers, lenders, and society more broadly.
This is a conversation about markets, incentives, and systems, not outrage. It asks whether Islamic finance can still deliver on its promise, or whether new models will ultimately replace it.
Topics covered
- The current state of Islamic financeWhy reform has stalledPartnership-based finance vs asymmetric relationshipsEthical investment and economic healthAAOIFI standards and enforceabilityBitcoin, crypto, and alternative financeThe future of Islamic finance in the UK
Guest
Harris Irfan
CEO and Co-Founder, Cordoba Capital Markets
🌐 https://ccmkts.com/
🐦 https://x.com/harris_irfan
Related episodes
🎙️ Halal or Hype? Demystifying Islamic Finance (Episode 7)
https://majlisandmarkets.buzzsprout.com/1907033/episodes/14625977-episode-7-halal-or-hype-demystifying-islamic-finance
🎙️ Setting the Standard: AAOIFI’s Impact on Islamic Finance (Episode 49)
https://majlisandmarkets.buzzsprout.com/1907033/episodes/16355515-episode-49-setting-the-standard-aaoifi-s-impact-on-islamic-finance
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