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Almir Colan

AUSCIF / Olive Investments

Almir Colan is a prominent figure in Islamic finance, serving as the Director of the Australian Centre for Islamic Finance (AUSCIF) and previously as the CEO at Olive Investments.

With a strong educational background in both Islamic Banking and Finance from La Trobe University and Business Administration (MBA) from Deakin University, Almir has established himself as an expert in the field.

His contributions extend beyond his roles at AUSCIF and Olive Investments. Almir Colan has been an adviser to numerous institutions specializing in Islamic finance and is a valued member of a working group at AAOIFI.

Prior to his current positions, Almir was a consultant lecturer and board member for the Master of Islamic Banking and Finance Course at La Trobe University, showcasing his commitment to education and knowledge sharing.

Furthermore, Almir Colan hosts the Islamic Finance Podcast, where he continues to engage with a wider audience on pertinent topics within the Islamic finance industry.

For more information about Almir Colan and his work, visit his website at https://www.almircolan.com.

Highlights

Jun 17 · linkedin

Imam Al-Ghazali, (d. 505 AH) interesting philosophical perspective on money:

Allah Almighty has created dirhams and dinars (money) as judges and mediators between all commodities so that all objects of wealth are measured through them...

That is why Allah has created them, so that they may be circulated between hands and act as a fair judge between different commodities and work as a medium to acquire other things.... So, the one who owns them is as if he owns everything, unlike the one who owns a cloth, because he owns only a cloth, therefore, if he needs food, the owner of the food may not be interested in exchanging his food for cloth, because he may need an animal for example.

Therefore, there was needed a thing which in its appearance is nothing, but in its essence is everything.

And whoever effects the transactions of interest on money is, in fact, discarding the blessing of Allah, and is committing injustice, because money is created for some other things, not for itself.

So, the one who has started trading in money itself has made it an objective, contrary to the original wisdom behind its creation…

Almir Colan
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Location

Melbourne, Victoria, Australia