Oke Taofeek Deji

in nigeria, the moment you clock 30, your chance at making it career-wise drops to 5%. you're excluded from virtually all graduate trainee programs, so no more entry roles.

One common problem in this part of the world is how easily we undervalue professional expertise when it involves Islamic knowledge. You will comfortably pay a lawyer to review your agreement, an accountant to examine your records, and a consultant to advise your business. But when you approach an Islamic finance professional, it suddenly becomes “Shaykh, please I want to ask one question.” Meanwhile, that one question may require reviewing your contracts, analysing your business model, identifying Shariah risks, and recommending alternative structures. Why should the Shariah expert be the only professional expected to work for free? There's a difference between educating people about Islamic finance and providing personalised professional consultation. When someone regularly produces educational content, explains financial transactions, and answers general questions online, that's already a valuable contribution to society. But when you approach that person to structure your investment, review your business, or develop a Shariah-compliant financial product, you're requesting a professional service. They have invested years and substantial resources in acquiring knowledge, certifications, training, and practical experience. Their expertise deserves compensation just like that of other professionals. Of course, there's nothing wrong with offering free consultations, especially to those who genuinely cannot afford them. But generosity should never become an entitlement. We cannot keep complaining about the underdevelopment of Islamic finance in Nigeria while refusing to value the professionals needed to build the industry. If you can afford to pay your lawyer, accountant, and business consultant, you should also budget for Shariah advisory services. Islam encourages generosity, but it also recognises the value of people's time, labour, and expertise. PS: Please before you slide into my DM, I charge 50k for consultation and that's to listen to you and guide you or answer questions relating to your investment or business. Then if you want me to do it for you or come up with solution, that's another discussion. Thank you.

Who actually owns the money contributed to a Takaful scheme, and how does the operator make money? 🤔 The answers lie in the contractual relationships between the shareholders/operators, contributors, and the Takaful pool. In this snippet, we highlighted four models through which Takaful operators and contributors relate, and what makes each model different. Watch, learn, and share!

Every now and then, I receive messages from people seeking guidance on how to become professionals in Islamic finance. Unfortunately, I don't always find the time to type lengthy responses, and many messages end up unanswered. I sincerely apologise for this. So, I thought it would be helpful to put together this brief guide for everyone interested in building a career in the industry. qistal.com/learn/how-to-buil…

The difference between Life and General takaful, and their capital requirements

The Wait Is Over. Qistal Is Now in Your Hands! 🤗 Your journey towards ethical wealth-building just got easier! At Qistal, we believe that growing your wealth should never come at the expense of your values. Whether you're just starting your investment journey or looking to make more informed, Shariah-conscious financial decisions, Qistal is here for you. Download Qistal today and take the next step towards a more ethical financial future. Playstore: play.google.com/store/apps/d… Applestore: apps.apple.com/app/qistal/id… Your Wealth. Your Values. One App.

Seven pension fund categories but only one is Shariah-compliant! 🤔 In this snippet, we explain briefly what each account is all about, how to switch to the ethical fund and why Muslims no longer have the excuse of leaving their funds in prohibited accounts. Your retirement savings shouldn't compromise your faith! Watch, learn and share 🙏

On Sunday, I was honoured to be in the company of many respected brothers and sisters, scholars, and students of knowledge at the Business The Way Allaah Wants It Initiative. Initiatives like #BTWAWI deserve our collective support and encouragement. At a time when Muslims are navigating increasingly complex business and financial transactions in a Riba-driven economy, we need more platforms that bridge the gap between Islamic knowledge and everyday commercial realities. May Allaah bless this initiative, grant it continuity, expand its reach, and make it a lasting means of spreading beneficial knowledge and promoting ethical, Shariah-compliant business practices.

Use Qistal (qistal.com) to Screen your stocks for Shariah compliance. You no longer have the excuse of holding or investing in non-permissible stocks. Remember you'll be asked how you make your money and what you spend it on.

🎙️ EPISODE 3 IS HERE! Did you know that Islamic finance goes far beyond Islamic banking, and that Islamic banks go beyond financing? In this Episode, we explored 4 of the 10 major sectors under Islamic finance: ✅ Cooperatives ✅ Microfinance ✅ Islamic Banking Services ✅ Islamic Capital Market But we didn't stop at just introducing these sectors! We also discussed: 👉🏼 Why Islamic cooperatives are essential for financial inclusion in our communities. 👉🏼 Banking services beyond financing, including currency exchange, safe deposits, remittances, payroll services, and more. 👉🏼 The regulators overseeing these sectors, their capital requirements, and other important industry insights. There's so much to learn about the opportunities Islamic finance offers, especially here in Nigeria! Link: youtu.be/OWHE65VZykM?si=RscF… Watch, share with others, and subscribe to our channel. By that, you help in making Islamic financial knowledge accessible to our community. We appreciate your continued support! 🙏

Àjọ and cooperatives exist till today because they address a critical need which is financial inclusion. For many low-income earners living on meagre salaries, these schemes are financial lifelines. Rather than dissuade people from participating in a system that serves and fulfill their genuine need, we should educate and encourage them on how to operate it in a Shariah-compliant manner. Episode 3 of Islamic Finance in Yorùbá drops tomorrow! Stay tuned. There's a lot to learn!

On Tuesday, the Federal Government launched a halal Rent to Own alternative to the interest-based mortgage. Alhamdulillaah...

A snippet on Capital Makerts and some terminologies

Can Islamic financial institutions charge for guaranteeing someone else's financial obligation? 🤔 This question has sparked an interesting debate among Shariah scholars, with differing views on contractual characterization & whether charging fees for guarantees can be justified. Explore with us this fascinating debate and its implications in this clip. Watch, learn, and share to benefit others...

How do Islamic banks facilitate international trade without charging interest? 🤔 Imagine importing goods worth millions from another country, but the seller wants assurance of payment before shipping. How can an Islamic bank help you complete this transaction without violating Shariah principles? In this snippet, we explore how Letter of Credit works in Islamic banking and the Shariah considerations involved. Watch, learn, share and follow for more!

This snippet from Episode 3 provides answers to some frequently-asked questions👇 What is the legal characterization of current and savings account in Non-Interest banks? Why do we get profit on savings and not current? What does it mean to sign an account opening form in these banks?

What every Muslim should understand about Islamic banks

The Danger of Giving Imaginary Faces to Prophets, Companions & Revered Personalities Few days ago, a lady reportedly married a man who resembles the popular artistic image of Jesus Christ, and since then, the social media has since been flooded with comments like, “You married my Lord and Saviour.” To start with, how did people come to recognise someone as resembling Jesus when no authentic portrait of him was ever preserved? This is one of the greatest dangers of portraying Prophets, Companions and other revered personalities in images and movies. The human brain develops strong associations between faces and identities. Once you repeatedly see an actor portraying a historical personality, your brain may automatically associate that actor's face with the person being portrayed. I remember some years ago when a movie about the Companions was released in which an actor portrays ʿUmar. Years later, whenever you hear stories about ʿUmar, that actor's face would immediately come to mind. Even though you know certainly that the actor is not ʿUmar, you cannot simply command your brain to erase the image. Once deeply established, such mental associations can be extremely difficult to undo. Worse still, the actor may subsequently appear in immoral scenes, become involved in scandals or portray characters whose conduct contradicts everything the Companion stood for. Yet, his face remains associated with that revered personality in the memory. Beyond facial appearances, movies can also create imaginary voices, gestures, conversations and personalities that viewers may gradually mistake for historical reality. This is one of the important concerns underlying scholarly objections to portraying Prophets and Companions in movies or artistic images, aside the real danger of worshipping them which is outright kufr. We do not need to invent their faces to appreciate their greatness. We know Abū Bakr through his truthfulness, ʿUmar through his justice, ʿUthmān through his generosity and ʿAlī through his knowledge and courage, and so on. Their legacies were preserved through their character, sacrifices and contributions, not through imaginary portraits. The danger of portraying revered personalities is that fiction can gradually become the face of history, and once that fictional face becomes deeply registered in people's minds, removing the association becomes very difficult.

Some modern contractual structures are often criticised by citing classical juristic discussions without adequately examining the context in which those discussions occurred. While classical juristic opinions remain fundamental to Islamic jurisprudence, understanding the circumstances, commercial practices, underlying assumptions, and effective legal causes (ʿilal) behind those opinions is equally important. A ruling developed in response to a particular contractual arrangement centuries ago may not automatically apply to a modern structure merely because both share similar terminology or certain features. For instance, two contracts may appear similar in form but differ significantly in their legal substance, allocation of risks, ownership arrangements, contractual obligations, and economic consequences. This is why contemporary Islamic finance requires more than simply identifying a classical opinion and applying it to a modern product. It requires a careful Tasawwur (accurately understanding the transaction), Takyīf Fiqhī (juristic characterisation), and Tahqīq al-Manāt (ascertaining whether the relevant legal cause or conditions exist in the particular case). Importantly, this does not mean disregarding classical scholarship or relaxing established Shariah prohibitions. Rather, it means applying classical juristic principles with the precision and contextual understanding they deserve. The objective should not merely be to find a classical ruling that resembles a modern transaction, but to establish whether the juristic reasoning underlying that ruling genuinely applies to the transaction under consideration. This is essential for ensuring that contemporary Islamic finance remains faithful to the Shariah while responding appropriately to evolving commercial realities.