Muslims born and raised in Britain have gone on to commit the mass murder of their fellow citizens. Parents are primarily responsible for preventing children becoming terrorists. Achieving this requires not teaching them some damaging beliefs, while teaching some positive beliefs. Governments also have a role to play.
Like many cities around the world, Manchester has now suffered terrorist mass murder. The bomber's background indicates that he was motivated by his understanding of Islam. Muslim parents are responsible for their children's upbringing. If your child grows up to be a terrorist, you as a parent have failed. Defeating ISIS requires Muslims and non-Muslims to remain united, celebrating their shared humanity.
Banking regulations require banks to maintain large amounts of high quality, preferably risk free, assets which can be accessed almost immediately. Conventional banks maintain deposits with the central bank, which in the UK is the Bank of England. Islamic banks cannot do so, as such deposits are not Shariah compliant. The Bank of England is consulting about it offering a Shariah compliant deposit facility, and in my view it is nearly there.
Discussions have been held with the Government since 2011 regarding the possible introduction of Shariah compliant student finance. Progress has been made steadily over the years, albeit very slowly. The Government now has the statutory power to offer such finance. However the Government has not set any deadline for the introduction of the scheme. I remain hopeful that it will happen by September 2018.
Passover reminds all believers in God of His power and His concern for all who worship Him. The Quran give the Passover story in detail. The precise way anyone chooses to remember Passover is up to them.
Security measures, and reporting suspected terrorists, are necessary. However, by themselves they will not end terrorism. We need to avoid bringing up children with attitudes that leave them vulnerable to the appeal of terrorist recruiters. The specific messages required are different for Muslim children and non-Muslim children. Sadly, all too often, both Muslims and non-Muslims fail to accept responsibility for bringing up their children in ways that that will reduce the risk of their being radicalised.
In the UK Islamic mortgages are more expensive than conventional mortgages. There are good reasons for this discrepancy. Islamic banks lack the economies of scale achieved by conventional banks. Islamic mortgages also involve more, and more complex, legal transactions. As Islamic finance grows, the difference should narrow.
To leave the EU, the UK needs to give notice under Article 50 of the EU Treaty. The text of Article 50 contains no provision for unilateral revocation of the notice. Many experts on international law consider that under general international law principles an Article 50 notice can be revoked unilaterally but this cannot be relied upon. Given the significance of the issues, the Government should ask the ECJ as ultimate interpreter of the EU Treaty about revocability. Otherwise the UK faces serious risks. In my view this should take priority over the desire to serve an early notice.
Bright Blue is a Conservative leaning think tank which is looking in detail at Conservatism and Human Rights. The Commissioners have been holding evidence sessions on a range of subject areas. I gave evidence on the race and religion aspects of human rights. This can be seen on video.
Referendums have often been abused by dictators and demagogues. That may be why the USA constitution has no provision for them, and the UK never held one until 1975. Referendums often ask voters to vote for "a pig in a poke." Even when the alternatives are properly specified, people often cast their ballots for reasons nothing to do with the referendum question.
Most people have too little life insurance. This applies even more strongly in the case of Muslims. Some Muslims have religious concerns about life insurance. However there is an Islamic finance version approved by Shariah scholars, known as life takaful. While life takaful is now widely available in Malaysia and the Gulf Cooperation Council countries, I am not aware of it being available in the UK.
People prefer money now to money later. This is known as the time value of money. Some early writers on Islamic finance appeared to believe that it required there be no time value of money. More recent academic writers generally recognise the time value of money, but then struggle to distinguish its application in Islamic finance from that in conventional finance.
A recording of my 20 minute talk to the Oxford University Conservative Association. I explain the demographics of Britain's Muslims, and how it differs from the demographic profile of non-Muslims. The talk then covers voting patterns and how they are changing. Finally, I show the differences in how the Conservative and Labour Parties select candidates for safe seats, and what this reveals about their philosophies.
I recently used Excel's =IRR() function to calculate my internal rate of return on an investment. The result I received was completely incorrect. This was not user error. After some effort and discussion with one of my sons, I discovered that Excel's IRR function treats blank cells differently from cells containing zero cash flow. Blank cells are treated as if that row did not exist, causing Excel to assume the actual cash flows occur on different dates than when they actually arise. If using IRR, it is essential that cells where there is no cash flow contain the number "0" (zero).
Survey evidence shows that richer white Americans are far more likely to practice a religion than are poorer white Americans. Does being richer make you more religious, or does being religious make you more successful? I explain why I think religion helps you to succeed in life.
Governments are responsible for making their countries fairer, and for countering discrimination. However, regardless of the performance of governments, individuals need to make the best of their lives. My six decades of experience of living in the UK have taught me much about what it takes to succeed without compromising one's personal integrity. This page is aimed at both French and British readers.
I have added "murabaha" to my "Glossary of Islamic finance terms." A murabaha transaction enables a bank to finance the purchase of an asset by a customer without making an interest bearing loan. This page explains how it works.
There are clear reasons why some countries are richer than others. Some countries are rich because they have extensive natural resources, and a small population to share the sale proceeds amongst. Others are impoverished by war damage. However the effects of such damage are temporary. The main reasons some countries are richer than others relate to their internal governance and the legal and business environment. A comparison of Finland and Iran demonstrates dramatic differences, with the aid of comparative data from countries such as South Korea and Pakistan.
This conflict has endured for over 60 years. It matters because of the status of Jerusalem and because many see the conflict as a religious one. Achieving peace requires difficult concessions from both parties but a two state agreement is the only realistically acceptable solution. It is essential for Israel to avoid policies that would make a two state solution impossible.
Blasphemy features prominently in the news from time to time. Many believe that blasphemy should be a criminal offence everywhere, as it already is in some countries. In the UK the blasphemy law only ever applied to Christianity, and has been abolished. I believe it should remain abolished. In my view Islam does not prescribe any penalty in this world for blasphemy.
Like many other Muslims, I am fed up with hearing the refrain "Why do Muslims not speak up and condemn the terrible things that are done in the name of Islam?" The reality is that Muslims have condemned terrorism time and again. However quite often the media gives very little coverage to the condemnations. They may get a slight mention, and then they are forgotten. Accordingly I have created this page and will add to it from time to time condemnations that I regard as particularly significant.
There are many Islamic finance glossaries available on the internet. I have create another due to some specific objectives about spelling and to give more detailed explanations than the typical glossary. The glossary will grow slowly as I add words to it. If there is a word you would like me to include, please let me know.
Being overweight has health risks and also makes career success harder. After receiving unwelcome news in my annual medical, over the year to July 2014 I reduced my weight simply by counting calories. It was much easier than I expected. You can read how to do it, or watch my 28 minute PowerPoint presentation with audio.
Many Muslims use the word "Islamophobia" as if it meant "hatred of Muslims." However it does not; the word Islamophobia has a distinct established meaning. Accordingly, when Muslims complain about Islamophobia when they intend to complain about anti-Muslim hatred, they are making a mistake. Complaining about Islamophobia makes it easy for people who really do hate Muslims to claim the moral high ground of defending freedom of speech. Instead, Muslims need to be focused and complain about what matters, which is anti-Muslim violence and anti-Muslim hatred.
Having a successful marriage requires taking it seriously, and making the right decisions, both before and after the wedding. While my wife and I have been happily married for many years, I have also observed many other people in unhappy marriages. Hence I have written 10 specific pieces of advice aimed at Muslim women. 8 of those are also relevant to Muslim men.
In this 22 minute acceptance speech I explained why I regard my life as so blessed, and why I do what I do in retirement. I also gave the students five pieces of advice, and encouraged them to give to the College.
Marrying your first cousin increases the risk of your children having a serious genetic disorder. As well as discussing the risks, I link a number of scientific papers, so that readers are not left in any doubt regarding the facts.
I am the principal author of this report published by the Qatar Financial Centre Authority and the International Tax and Investment Center. It looks at the taxation of four common Islamic finance structures: commodity murabaha, sukuk, salaam and istisna in eight MENA region countries: Egypt, Jordan, Kuwait, Libya, Oman, Qatar, Saudi Arabia, Turkey and also in the Qatar Financial Centre. The report recommends how these countries should adapt their tax systems to facilitate Islamic finance.
Why does capitalism work in the West, but fail in so many other countries? In the 1990s Hernando de Soto and his colleagues went fact-finding. They went into the streets of developing and former communist nations to learn what real people are achieving inside and outside the formal economy. They found that even poor people in such countries have assets and savings which could be used for successful capitalism, but nevertheless these countries are underdeveloped. In this book they summarise their findings and explain the key changes underdeveloped countries need to make to transform their economies.
An explanation of my view that the euro was created to increase the cross-border integration of european business and an analysis of what has gone wrong and what needs to be done. I forecast that all current members, even Greece, will remain within the eurozone.
Most people see only their own CV. I have seen many, most of them written in ways that would get them rejected by a recruiter. I have illustrated the failings with a real life "before" and "after" example.
Curriculum for Cohesion is an inter-disciplinary research project that is developing a method for understanding the nature of religion in a multi-faith world, with a focus on Islam, to inform the practice of teachers, lecturers, prison officers and the judiciary.
I am a patron. It is probably the most important charitable activity of my life.