Takatalks

Faithful Entrepreneurship: Islamic Business between Challenges and Opportunities (Episode 25)

January 23, 2024 Takadao Season 1 Episode 25

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In this conversation, Omar DaCosta-Shahid discusses the importance of infusing Islamic ethics into business and the challenges faced by Muslims in non-Muslim majority countries. He emphasizes the need for Muslims to fully embrace their faith in all aspects of their work. Omar also highlights the increasing interest in targeting the Muslim consumer and the opportunities for businesses with Islamic principles. He addresses the challenges of innovating in Islamic finance and shares his services, including the spirituality of business course. In this conversation, Omar DaCosta-Shahid discusses his various business ventures, including real estate investing and marketing agencies. He also shares his thoughts on social media and time management. Finally, the conversation concludes with a discussion on the universal nature of entrepreneurship and the importance of teaching young adults about mixing spirituality and business.

Takeaways

-Muslims should strive to infuse Islamic ethics into their business practices and not compartmentalize their faith from their work.

-Muslims face challenges in non-Muslim majority countries, including discrimination and a lack of understanding about Islam.

-There is an increasing interest in targeting the Muslim consumer, and businesses can benefit from understanding and catering to the needs of this demographic.

-Opportunities exist for businesses with Islamic principles in various industries, including Islamic finance and sustainable fashion.

-Innovating in Islamic finance can be challenging due to the existing infrastructure tied to conventional banking and interest-based systems.

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