Pakistan is moving towards an interest-free Islamic financial system, but can Islamic finance really fix economic challenges or are public expectations misplaced? In Episode 81 of Majlis & Markets, Farrukh Raza from IFAAS explains why Islamic finance is not designed to create jobs overnight, how liquidity surpluses and sovereign debt complicate reform, and why this transition is ultimately about aligning Pakistan’s financial system with its Constitution, the Qur’an, and the Sunnah. We exp...

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...

Sequoia Capital, Islamophobia, and the limits of Muslim capital in global markets. In this episode of Majlis & Markets, we examine the controversy surrounding Sequoia Capital following public comments by Shaun Maguire, the firm’s response, and what this episode reveals about power, free speech, and discrimination in venture capital. FT article from October 2025 [https://www.ft.com/content/8e6de299-3eb6-4ba9-8037-266c55c02170] But this conversation goes well beyond one firm or one incident...

Is Iraq’s economy truly progressing or is new pressure starting to build? In this episode, economist and strategist Ahmed Maan Tabaqchali breaks down the real state of Iraq’s economy, covering stability since 2019, the Iraqi dinar, de-dollarisation, banking sector challenges, fintech adoption, digital payments, tokenisation, the Iraq Stock Exchange and Iraq’s post-election outlook following the 11 November 2025 parliamentary vote. As Chief Strategist of Asia Frontier Capital’s Iraq Fund, Ahme...

In this episode, we sit down with Dr Lisa Gulesserian and John Gollifer from the GCC Board Directors Institute (GCC BDI) to discuss how governance, board effectiveness and investor relations are developing across the GCC. We explore key regional differences in board maturity, the role of IR as Gulf markets deepen, and the challenges boards face around composition, diversity, succession and disclosure. This discussion offers a clear, research-based view of the issues shaping boardrooms a...

Why is Dubai still booming while global real estate slows? And is Saudi Arabia’s transformation—from home ownership to hospitality—actually sustainable? In this episode, we speak once again with Faisal Durrani, Partner & Head of Research at Knight Frank Middle East, to unpack what’s really driving the Gulf’s property cycle. We discuss affordability, foreign ownership, migration trends, rental pressures, hospitality demand, and the rise of Abu Dhabi and Ras Al Khaimah. Reports mentio...

In our 75th episode, we’re joined once again by Abdul Kadir Hussain, Head of Fixed Income Asset Management at Arqaam Capital, to unpack the transformation reshaping GCC bonds and sukuk. From Saudi Arabia’s Vision 2030-driven borrowing and UAE corporate issuance, to Kuwait’s market comeback and the future of AAOIFI sukuk standards, we explore how the region’s fixed income landscape is evolving and what it means for investors, policymakers, and global markets. Revisit our last episode with Abdu...

In this episode, we welcome back Issam Altawari to unpack Kuwait’s political and economic crossroads. We explore Kuwait’s unique political dynamics, the challenges of reform and the country’s efforts to diversify beyond oil. From parliamentary deadlock to infrastructure and tourism projects, citizenship issues, and the role of the sovereign wealth fund, the conversation dives deep into what’s holding Kuwait back and what could unlock its potential. We also discuss Kuwait’s geopolitic...

In this episode, Hassan Jivraj speaks with George Huang, CEO of SenseTime MEA and a key player in Saudi Arabia’s AI ecosystem. They discuss George’s journey into AI, the role of SenseTime in the Middle East, and how AI fits into Saudi Arabia’s Vision 2030. The conversation explores the opportunities and challenges facing the Kingdom, the importance of cultural sensitivity and ethics, and why localisation and talent development are critical for long-term success. George also shares insig...

We’re joined once again by Beth Morrissey of Kleiman International Consultants to unpack Trump’s tariffs, dollar dominance, and the latest wave of EM debt restructurings. Why is EM unique, and what can history teach us about today’s turbulence? We also dive into her new book, Emerging Economies and Financial Markets-A Career-Tested Approach to Analyzing the Markets 🔗 Follow Beth’s work: 📰 Substack → Kleiman International 🐦 X (Twitter) → @KleimanIntCon 🎧 Related Episodes on Emerging Markets: P...

Are your stocks really halal? In this episode, we sit down with Saad Malik, co-founder of Zoya, to unpack the realities of halal investing. From stock screening and Shariah standards to Islamic ETFs, fintech, and the future of the Islamic economy, this conversation explores the opportunities — and challenges — facing Muslim investors today. 🌐 Zoya: zoya.finance | Download the app 🐦 Saad Malik: https://x.com/SaadMalik 🔗 Subscribe & Listen 🎧 YouTube: @MajlisMarketspod 🎙️ Listen on al...

In this episode, we sit down with Robert Mogielnicki, Senior Resident Scholar at the Arab Gulf States Institute in Washington (AGSIW), to unpack the political and economic forces shaping the Gulf. We discuss the region’s economic diversification journey, the influence of political dynamics on decision-making, and the role of international capital, as well as Gulf relations with China, Russia, and the U.S. From Kuwait’s investment landscape to currency pegs, and from energy dependence to fut...

In this episode, we reconnect with Odilbek Isakov, Managing Partner at Infrasia Capital and former Deputy Minister of Finance of Uzbekistan. Since launching market reforms in 2017, Uzbekistan has opened up to foreign investors, embraced privatisation and begun reshaping its banking and financial landscape. But can the momentum last? In this episode We unpack: The state of Uzbekistan’s reform agenda in 2025What global politics (including Trump tariffs and BRICS shifts) mean for Tas...

Sovereign Wealth Funds are quietly reshaping global finance, deploying trillions, navigating geopolitical tensions, and investing across everything from oil and AI to ESG and infrastructure. But what are they really doing in 2025? In this episode, Diego Lopez of Global SWF shares what’s happening behind the scenes, from the Gulf and Southeast Asia to emerging funds in the OIC and beyond. We cover transparency concerns, the impact of de-dollarisation, rising debt levels, and where sovereign ca...

In this episode, we interview Rafi-uddin Shikoh, CEO and founder of DinarStandard, about his journey in the Islamic economy sector. We discuss Rafi-uddin's background, the impact of 9/11 on his career, and the inception of DinarStandard. The conversation explores the current state of the Islamic economy, the challenges and opportunities within Islamic finance, and the future of the halal market. Rafi-uddin shares insights from the latest State of the Global Islamic Econom...

In this episode, we speak with geo-economics analyst Rachel Ziemba about trade policy shifts, BRICS fractures, China’s trade outlook, de-dollarization, and what investors should watch in the second half of 2025. 🔗 More from Rachel Ziemba: Website → https://ziembainsights.com Summer reading → https://rziemba.substack.com/p/summer-reading-weaponized-economy 🎧 Listen & Watch: YouTube → https://www.youtube.com/@MajlisMarketspod RSS → https://majlisandmarkets.buzzsprout.com 🕒 Tim...

Why does Islamic finance still struggle with standardisation, accessibility, and product credibility? In this episode, we speak with Ijlal Alvi, CEO of International Islamic Financial Market (IIFM) about what’s really holding the industry back. We talked on topics from the overuse of tawarruq and the lack of unified Shariah standards, to why retail sukuk remain out of reach. We also cover IIFM’s mission, milestones, and the future of Islamic capital markets. Latest IIFM sukuk report-htt...

In episode 64, we're joined by Dr. Ryan Lemand, Co-Founder & CEO of NeoVision Wealth Management and a prominent voice in global finance. They dive into the world of alternative assets, from gold and crypto to meme stocks, and unpack how regulation, social media, and investor psychology are reshaping markets. Ryan explains why Bitcoin behaves more like an asset than a currency, the renewed appeal of gold, and what rising volatility could mean for investors in the months ahead. 🎧 Available ...

In this episode, we spoke to Said Murad, a Dubai-based Senior Partner at Global Ventures. The conversation explores the growth of the MENA startup ecosystem, investment opportunities, challenges faced by founders, and the impact of global economic conditions on the region. The episode covered several topics including: The importance of talent acquisition, the evolving regulatory landscape, and the future of fintech in democratising financeThe outlook for MENA VC in 2H25📺 YouTu...

🎙 Episode 62 – Why Islamic Finance Isn’t Driving Impact We welcome back Reza Jafarally to explore why Islamic finance is falling short on climate action, development goals, and real-world impact—and what must change. This wide-ranging conversation touches on everything from AI and sustainability to grassroots initiatives, cultural challenges, and the persistent issue of Islamophobia in global finance. If you care about the future of faith-based finance and its role in solving urgent global c...