Majlis & Markets
Majlis & Markets is a podcast about the global Islamic economy, told through storytelling and conversations with industry leaders, founders and investors. It looks at Islamic finance, exploring the ethics, products and strategies driving the sector, as well as global market and macroeconomic trends across the Middle East. It also covers venture capital, focusing on Shariah-compliant start-ups and the future of funding and innovation. The show aims to make complex topics in culture, capital and commerce more accessible to a broader audience.
Episodes
Ep. 96. The Problem With Sustainable Sukuk | Maya Marissa Malek
Why are major financial institutions struggling to scale sustainable Islamic finance?In this episode of Majlis & Markets, we sit down with Maya Marissa Malek, CEO of Sābiq Advisory, to unpack the critical operational gaps, compliance tensions, and commercial realities shaping modern Shariah-compliant finance.We dive deep into the hard corporate finance mechanics that the industry often avoids,
Ep 95. Halal Investing in the AI Age | Mujtaba Khalid
The $6 trillion Islamic finance market faces an existential tension: it was built to champion equitable risk-sharing, yet it remains heavily dominated by rigid, rule-based legal screening. Can artificial intelligence resolve this bottleneck? Can advanced machine learning models move beyond basic compliance checklists to automate substantive, purpose-driven ethical screening?In this episode of Majl
Ep 94. MENA VC: Cashed Up but Cautious? | Hasan Haider
While global headlines fixate on macro volatility and regional tensions, the underlying data tells a completely different story for Gulf technology.In this episode of Majlis & Markets, we sit down with Forbes Top Venture Capitalist Hasan Haider, Founder and Managing Partner at PlusVC, to unpack his contrarian investment thesis. Hasan lays out exactly how the GCC startup ecosystem, spearheaded
Ep 93. Private Credit: Bubble or GCC Boom? | Sharif Eid
Is the multi-billion dollar private credit market a global financial crisis in the making, or is the GCC region building a bulletproof alternative capital haven? In this episode of Majlis & Markets, we sit down with Sharif Eid, Portfolio Manager at Amwal Capital Partners, for a comprehensive look at the realities of alternative lending, macro liquidity risks, and the massive capital migration
Ep 92. Iran War: Egypt’s Breaking Point? | Angus Blair
As the 2026 Iran War escalates, the Middle East faces a defining moment of economic reckoning. While the world watches the missiles, the markets are watching the financial lifelines of Cairo, Beirut, and the Gulf. Expert Angus Blair (Signet Institute) returns to Majlis & Markets to discuss whether the regional economy has finally reached its breaking point.The instability of 2026 has created a
Ep 91. Istanbul: The New Safe Haven? | Serhat Süha Çubukçuoğlu
As regional volatility grows, is Turkey emerging as the ultimate refuge for global capital? In this episode of Majlis & Markets, we are joined by Serhat Süha Çubukçuoğlu to explore Turkey’s strategic positioning amidst the Iran conflict and shifting global market dynamics. We discuss how Ankara is blending "geonomics" and active diplomacy to secure its role as a resilient regional hu
Ep. 90 | Building the "Bloomberg of Iraq" with Jameel Amir
Is the "Bloomberg of Baghdad" finally a reality? 🇮🇶☕️In Episode 90 of Majlis & Markets, we sit down with Jameel Amir, the co-founder and host of the Tajarib podcast. Jameel is doing more than just creating content; he is architecting the "knowledge infrastructure" Iraq desperately needs. His mission? To build a high-trust, digital-first powerhouse that provides the institut
Can Islamic Finance Rebuild Syria's Economy ?| Ep 89 ft. Najib Al Aswad
Is Syria the $215 billion "clean slate" the global financial system needs? 🇸🇾🏗️In Episode 89 of Majlis & Markets, Hassan Jivraj is joined by Shariah governance expert Najib Al Aswad (CEO of IFCAB) to deconstruct the roadmap for Syria’s economic rebirth. Following years of conflict and a 98% currency devaluation, we explore if Islamic finance can move beyond "halal stickers"
Hormuz Blockade: The Gulf Reset? | Ep 88 ft. Issam Al-Tawari
Is the GCC facing a structural point of no return? With the Hormuz Blockade effectively "locking in" the region's economy, the old rules of Gulf growth are being rewritten. In Episode 88 of Majlis & Markets, Issam Al-Tawari re-joins us for a high-stakes briefing on the Gulf economic reset.We move beyond the headlines to analyse why the 2026 conflict is more than just a volatilit
Iran War 2026: Who Rules the Economy? | Bijan Khajehpour (Ep 87)
Is the Iranian state effectively in receivership? As the 2026 conflict intensifies and the IRGC maintains its "toll booth" blockade on the Strait of Hormuz, the question of who actually holds the economic lever has never been more critical. Is President Pezeshkian’s administration a mere figurehead for the economy?In this episode, renowned strategist Bijan Khajehpour joins Majlis & M
Iran War & The Global Market Reset (ft. Hasnain Malik) Ep 86
The old world order is dead. As the Iran-Israel conflict reaches a point of no return, we aren’t just looking at a news cycle—we are witnessing a permanent Global Reset of the financial and geopolitical map.In this briefing, Hasnain Malik (Head of Geopolitical Risk and EM Equity Strategy Research at Tellimer) joins us to navigate the high-stakes intersection of war and wealth. With oil prices vola
Ep 85: Is Saudi Arabia Taking Over World Football? 🇸🇦 (ft. Kristian Ulrichsen)
Saudi Arabia is no longer just a spectator in global sports—it’s becoming the epicenter. From the "Ronaldo effect" to the 2034 World Cup, is the Public Investment Fund (PIF)’s $trillion strategy actually working?In this episode of Majlis & Markets, recorded on 24 February 2026, we sit down with Dr. Kristian Ulrichsen to dismantle the strategy behind Saudi Arabia's massive sports
Ep 84: The Secret to Building Muslim Wealth - Ibrahim Khan (IFG)
Why is there still a massive gap between the wealth in the Muslim community and the financial products available?In Episode 84 of Majlis & Markets, Hassan Jivraj is joined by Ibrahim Khan, co-founder of Islamic Finance Guru (IFG) and Cur8 Capital. Together, they explore the evolution of Islamic finance, the mission to help the community "level up" financially, and the real reasons be
Tunisia: Africa’s Hidden VC Gem 🇹🇳 ft. Oussama Messaoud | Ep. 83
Is Tunisia the most undervalued tech hub in Africa? While the global spotlight often falls on the "Big Four" (Nigeria, Egypt, Kenya, and South Africa), Tunisia is quietly building a powerhouse ecosystem rooted in a unique culture of resilience.In this episode of Majlis & Markets, we sit down with Oussama Messaoud to uncover the reality of the "Tunisia Advantage." We discuss
$62 Trillion in One Room: Insights from ADFW 2025
Is the global financial axis permanently shifting? At Abu Dhabi Finance Week (ADFW) 2025, decision-makers representing $62 trillion in assets—equivalent to over 50% of global GDP—gathered to answer that question.Hosted within the high-growth ecosystem of ADGM, this exclusive series of interviews moves past the headlines to analyse how Abu Dhabi is officially "Engineering the Capital of Capita
Is Islamic Finance Broken? (ft. Khalid Howladar) | Ep. 82
Can a $6 trillion industry survive its own stagnation? In Episode 82 of Majlis & Markets, we confront the "elephant in the room": why Islamic finance is standing still despite massive global asset growth. We are joined by industry veteran Khalid Howladar to unpack why the sector remains stuck in "business as usual" and why technology, (specifically AI and digital assets) is
🎙️ Episode 81: 🇵🇰 Can Islamic Finance Fix Pakistan’s Economy?
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 abou
🎙️ Episode 80: Why Islamic Finance Is Losing Its Purpose
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 bli
🎙️ Ep. 79 | Sequoia Takes Muslim Money. So Why the Silence?
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/8e6de2
🎙️ EP.78 – Iraq’s Economy: Progress or Pressure? 🇮🇶
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
🎙️ EP. 77 —Inside GCC Boards: Governance & Investor Relations
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 disclosu
🎙️ EP. 76—Inside the Gulf Property Boom
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 p
🎙️ EP. 75—What’s Next for GCC Bonds & Sukuk?
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 w
🎙️ EP. 74 — Is Kuwait Falling Behind the Gulf?
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 holdi
🎙️ EP. 73 — How Saudi Arabia Is Betting on AI
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 locali
🎙️ EP. 72 —Trump Cards: EM Debt, Tariffs & the Dollar
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 →
🎙️ EP. 71 — What Nobody Tells You About Halal Investing
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: http
🎙️ EP. 70 — Inside the Gulf’s Political Economy and Diversification
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 t
🎙️ EP. 69 — After Reform: Can Uzbekistan Keep Momentum?
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
Episode 68-What Sovereign Wealth Funds Are Really Doing in 2025?
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 t
Episode 67-The Islamic Economy: How to Build Global Muslim Brands
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 mark
Episode 66-Trade War 2.0? BRICS on the Brink in 2H25
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.
Episode 65 – What’s Really Holding Islamic Finance Back?
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 mi
Episode 64-Boom, Bubble or Hedge? Making Sense of Alts
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 a
Episode 63-Is MENA the Next Silicon Valley?
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 f
Episode 62-Why Islamic Finance Isn’t Driving Impact
🎙 Episode 62 – Why Islamic Finance Isn’t Driving Impact We welcome back Reza Zain Jaufeerally 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 globa
Episode 61-What Do Shariah Scholars Do?
In our 61st episode, we spoke to Datuk Prof. Dr Mohamad Akram Laldin.He is a Professor at INCEIF University and a globally respected Shariah scholar. He was formerly Executive Director of ISRA and has advised central banks and financial institutions across Malaysia, the GCC, and Central Asia.He currently serves on the Shariah Advisory Council of Bank Negara Malaysia, chairs the Shariah Boards of E
Episode 60-Has Islamic Finance Lost Its Way?
In our 60th episode, we spoke to Ryan Calder.Ryan is an assistant professor of sociology and director of the Program in Islamic Studies at Johns Hopkins University. He studies fast-changing global markets where money and morality intersect. His first book, The Paradox of Islamic Finance (Princeton University Press 2024), draws on over 280 interviews across Saudi Arabia, Pakistan, the UAE, the UK,
Ep 59-Is Journalism Broken? Moniify, Media Shifts and the Road Ahead
In our 59th episode, we spoke to Paromita Dey.She is a wealth management journalist with over 14 years of experience covering private banking, asset management, and investment trends across the Middle East and India. Her work has appeared in top publications including Citywire, AsianInvestor, and Business Today. Known for turning complex finance into clear, engaging stories, she brings sharp insig
Episode 58-Fund Focus: The GCC Investment Boom
In this episode, we’re joined by Dounia Mansour, a Dubai-based partner at King & Spalding.She advises on setting up a wide range of investment funds—from private equity and real estate to Shariah-compliant structures.We covered several topics includingThe funds landscape in the Middle EastThe rise of Shariah-compliant fundsWhy the UAE—is becoming a major hub for capital and fundsEmail us: hass
Episode 57-Counting the cost: Inside Syria's economy
December 8 2024 will forever be a turning point in Syria’s modern history. The fall of Bashar Al-Assad’s regime brings new risks, challenges, and opportunities. But how did we get here?In this episode, we break down Syria’s economy under Assad, from pre-2011 through the 14-year civil war, and explore the economic challenges ahead.Joining us is Jihad Yazigi, founder & editor-in-chief of The Sy
Episode 56-Gulf Currents: Bahrain in a Changing Gulf
Bahrain’s economy is often overshadowed by its larger Gulf neighbours, but it plays a crucial role in the region’s financial landscapeIn episode 56, we spoke to Duncan Mayall, Chief Economist at Consulum. He has over 15 years experience advising sovereign wealth funds and investment bodies across the Gulf, North Africa, and China.In this episode, we covered several topics, including:An overview of
Episode 55-Decrypting MENA’s Crypto Surge
In episode 55, we’re joined by Alex Chehade, a finance and crypto veteran with over two decades of experience. His experience includes market-making in traditional finance to leading Binance FZE in Dubai. As the Middle East cements its status as a global crypto hub, Alex is focused on bridging the gap between traditional finance and DeFi—making digital assets more accessible, compliant, and user-f
Episode 54-The Gold Standard: Power, Policy & Markets
In our 54th episode, we’re joined by Andrew Naylor, Head of Middle East and Public Policy at the World Gold Council. We discuss gold’s role in global markets, its significance in Islamic finance, and what the future holds for this precious metal.We covered several topics including:The drivers behind the recent gold price rallyGold's role in Islamic economies and financeWhether gold is a bette
Episode 53-Saudi Unscripted: Content, Change & Growth
In our 53rd episode, we're joined by Yasmin AlKhowaiter, host of The Majlis, a podcast where she talks to global thought leaders about Saudi Arabia’s economic transformation.With a background in consulting, Yasmin has worked with both private and public sector clients—giving her a unique perspective on the region’s rapid evolution.In this episode, we covered several topics including:The rise
Episode 52-Profit with Purpose: Halal Investing
Monem Salam, Director and Portfolio Manager at Saturna Capital. With years of experience in Islamic investing, he’s been is a leading voice in the industry. In this episode, we explore:The evolution of Islamic financeThe latest investment trendsWhere the industry is headed nextPlease note that this discussion is for informational purposes only and does not constitute financial advice. Please consu
Episode 51-The Venture Shift: MENA’s Next Big Moves
In our 51st episode, we’re joined by Philip Bahoshy, founder and CEO of MAGNiTT, the leading start-up data platform for emerging venture markets. In our conversation, we covered several topics including:The region’s VC ecosystem—its challenges, opportunitiesHow MAGNiTT is bridging gaps with data and insightsPhilip's outlook for 2025MAGNiTT's five predictions for 2025-https://magnitt.com/
Episode 50: Tackling Liquidity in Islamic Finance
In our 50th episode, we spoke to Mohamad Safri, CEO of the International Islamic Liquidity Management Corporation (IILM).With nearly 30 years in banking and over 20 as a leader in Islamic finance, Safri has been instrumental in shaping the global Islamic capital market.In our conversation, we covered topics including:The liquidity challenges Islamic financial institutions faceHow the IILM is tackl
Episode 49-Setting the Standard: AAOIFI's Impact on Islamic Finance
In this exclusive episode, we’re joined by Omar Ansari, Secretary General of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)—the global standard-setter for Islamic finance.In this depth conversation, we covered several topics including:AAOIFI’s role in shaping the industryWhy standardisation and implementation are importantDeep dive into Sharia standards 59 and 62
Episode 48-The Alt Shift: The Rise of Alternative Assets
Alternative assets like gold, cryptocurrency, and private credit have gained momentum in recent years, driven by the COVID-19 pandemic, the Ukraine war, and uncertainty around interest rates. These investments have become key as investors seek stability and higher returns.With President Trump 2.0 preparing to take office and new uncertainties on the horizon, what’s next for these assets and global
Episode 47-Islamic Finance Decoded: Growth and Gaps
This year, Islamic finance has made significant strides, with sukuk issuances reaching record highs and the market expanding into green and sustainable finance. With the industry on track to hit $6 trillion by 2027, its growth is undeniable.However, challenges persist. Rising compliance costs, the push for harmonisation, and the introduction of AAOIFI’s Sharia Standard 62 are poised to reshape the
Episode 46-Building Markets: The GCC IPO Surge
In recent years, the IPO market in the GCC has been on fire. Driven by government initiatives and a push to expand regional equity markets, the region has seen a surge in IPO activity. Saudi Arabia is expecting over 50 IPOs in 2024, while the UAE has led the way in IPO proceeds, especially in 2023.But what’s behind this rise? What challenges do companies face as they list, and what opportunities
Episode 45-Faith and Friction: The UK’s Islamic Banking Story
The UK is the leading hub for Islamic finance in the West. The London Stock Exchange holds 35% of the US dollar sukuk market, and English law governs most sukuk worldwide.But domestically, the industry is small. By the end of 2023, Islamic banks made up just 0.1% of UK banking assets, according to Fitch.In our 45th episode, we spoke to Mohammed Paracha. A key figure in the early 2000s, he helped s
Episode 44-Bonding Over Green: The GCC’s ESG Shift
Sustainability and ESG are now key priorities in the GCC, with green bonds, sustainable loans, and major projects like Masdar City and NEOM driving change. But, are banks and institutions doing enough? And how does the GCC compare globally?In our 44th episode, we spoke to Daniel Gribbin, Deloitte Middle East’s Sustainability and ESG Lead. With over a decade of experience and recognition as a top E
Episode 43-Banking on Belief: Islamic Finance in Canada
With Muslims now making up nearly 5% of the population, demand for Shariah-compliant financial services is growing in Canada. Yet, the sector remains small and underdeveloped.To unpack the challenges and opportunities, we spoke with Mohamad Sawwaf, Founder and CEO of Manzil, Canada’s leading Islamic FinTech firm. With a Doctorate in Islamic Finance and a mission to reshape the industry, Mohamad sh
Episode 42-Emirates of Influence: The UAE’s Rise in Global Markets
The United Arab Emirates (or UAE), once known mainly for its oil, now drives growth across finance, trade, and technology.Dubai stands out as a global hub for finance and tourism, while Abu Dhabi channels its wealth into high-tech industries and global investments. Meanwhile, other emirates, like Sharjah and Ras Al Khaimah, are developing their own unique sectors.To learn more about these trends,
Episode 41-Malaysia’s Future: Balancing Growth and Giants
In the last decade, Malaysia has experienced dramatic shifts— from the 1MDB scandal that shook the nation, to its rise as an economic player, all while balancing relationships with global powers like the US and China. To help us unpack these complex dynamics, we’re joined by Nick Khaw, economist and Head of Research at Khazanah Nasional, Malaysia’s sovereign wealth fund. With years of experience s
Episode 40-Kingdom Capital: Shaping Saudi’s Economic Future
Since Crown Prince Mohammed bin Salman launched Vision 2030 in 2016, Saudi Arabia has undergone major changes. The kingdom is opening up its society and reshaping its economy by investing in industries like mining and tourism. In particular, the financial sector, is driving much of this progress and attracting global attention.In our 40th episode, we spoke to Abdulaziz Alnaim, founder and Managing
Episode 39-Fuelling the Future: The Middle East’s Energy Shift
Natural resources are central to Middle Eastern economies. While climate change and green financing are on the rise, oil and gas still dominate, shaping economies and global markets. At the same time, Gulf nations are exploring new energy options to meet their climate goals.In our 39th episode, we’re joined by Carole Nakhle, founder and CEO of Crystol Energy. With deep expertise in energy, econom
Episode 38-Venture Into Iraq: Start-Ups on the Rise
After years of instability, Iraq’s political and security situation is improving, opening up new opportunities for economic growth. With a young, tech-savvy population, many are starting businesses in areas like fintech and e-commerce. The potential is there, but challenges like funding, infrastructure, and regulations still slow things down.Our guest today is Zahra Shah. Her experience spans role
Episode 37-Banking on Faith: Australia’s First Islamic Bank
Islamic finance is gaining traction in Australia. With over 813,000 Muslims—about 3.2% of the population—there's an increasing demand for financial services that align with their faith. However, Islamic finance still makes up a small part of the banking sector, with limited options from major banks and a few non-bank providers.Change is on the horizon. Australia has signed a significant free
Episode 36-Crypto Currents: Fintech and Digital Assets in the Gulf
The digitalisation of finance is reshaping the industry, with new asset classes like cryptocurrency gaining traction. Dubai and the UAE have become key hubs for fintech and crypto, driven by new frameworks and initiatives to attract firms and talent. Saudi Arabia and Qatar are also enhancing their regulatory systems.But what are the benefits and challenges of these shifts? In our 36 episode, we sp
Episode 35-Egypt’s Fintech Focus: Growth and Challenges
Egypt is quickly becoming a major tech and fintech hub in MENA and Africa. With over 100 million people, many of them young and tech-savvy, and a strategic location connecting continents, the country is set for impressive growth.But the path forward isn’t without its challenges. These include regulatory hurdles, market fragmentation, and infrastructure issues that could slow its progress.In our 35
Episode 34-Feeling the Heat: Gulf States and Climate Shifts
Across the MENA region, environmental challenges are rising, but the six Gulf Arab states—Saudi Arabia, the UAE, Kuwait, Oman, Qatar, and Bahrain—are feeling the impact the most. With economies built on oil and gas, they’re now on the frontlines of climate change.COP28 in Dubai last year called for urgent action, but what are Gulf countries actually doing? How are they tackling climate risks while
Episode 33-Islamic Finance: Kazakhstan's Next Frontier
Since 2009, Kazakhstan has been integrating Islamic finance into its economy to attract foreign investment and diversify its financial sector. Leading this effort is the Astana International Financial Centre, or AIFC, which aims to make Kazakhstan a financial bridge between East and West. With its strategic location and a growing Muslim population, Kazakhstan is keen to tap into the $4 trillion gl
Episode 32-Building Trends: UAE & Saudi Real Estate Insights
Dubai's real estate has surged in the past decade, driven by its strategic location and luxury demand. Abu Dhabi is advancing, and even smaller emirates like Ras Al Khaimah are attracting attention with new projects.Saudi Arabia is the major focus, with Vision 2030 transforming the real estate landscape through NEOM’s futuristic cities and ambitious homeownership goals.In our 32nd episode, we
Episode 31-Pyramids of Pressure: Egypt's Economic Balance
Egypt's economy is under intense pressure, with a currency crisis, soaring debt, rampant inflation, and a struggling private sector. But a major UAE investment in February 2024 and a recent IMF bailout offers hope. Plus, Egypt’s entry into BRICS in 2023 hints at a shift eastward.In our 31st episode, we spoke to Beth Morrissey, managing partner and co-founder of Kleiman International Consultan
Episode 30- Inside the Gulf bonds bonanza
According to Fitch, the GCC debt capital market has soared to nearly $1 trillion. In 1H24, GCC primary debt issuance reached $75.5bn compared to $54.8bn in the same period last year, representing a 38% increase, according to Markaz, a Kuwait-based financial institution. In the first five months of 2024, emerging market dollar debt issuance—excluding China—topped $200 billion, with Saudi Arabia lea
Episode 29-Exploring the GCC Private Credit Boom
According to the IMF, private credit assets grew to $2.1 trillion globally in 2023. With banks less willing to lend to riskier firms in the US and Europe, private credit has stepped in as a key lender.In the GCC, private credit activity has surged, with financial institutions setting up new funds and financing transactions. Examples include Mubadala and Goldman Sachs setting up a $1bn private cred
Episode 28-MENA VC Insights: Saudi surge and regional trends
The Middle East, Pakistan and Turkey secured $665 million in funding in the first half of 2024, equating to an 18% drop from last year, according to Magnitt, a Dubai-based VC data platform. Meanwhile, Saudi Arabia led the MENA region with $412 million in VC funding, despite a slight 7% decline. Investor numbers in the MENA increased by 33%, showing resilience in early-stage funding. In our 28th ep
Episode 27-Profit Over Principles? The Ethical Dilemma in Islamic Finance
The modern Islamic finance industry has grown since the 1970s into a $5 trillion industry. Critics argue that despite its ethical roots, it often prioritizes shareholder returns over impact investing. Whilst Islamic finance shares principles with ethical finance, it usually focuses on profits rather than social and environmental outcomes. In our 27th episode, we spoke to Reza Jaufeerally, a specia
Episode 26-Central Asia's Fintech Revolution
Despite a young, tech-savvy, and predominantly Muslim population, Islamic finance in Central Asia remains small and underdeveloped. The region's financial services and fintech sectors also lag behind their global counterparts.In our 26th episode, we spoke to Abdullo Kurbanov, co-founder of Alif Bank, a leading challenger bank in Central Asia. Today, Alif serves 1.3 million customers in Tajiki
Episode 25-Qatar's Next Play: From the World Cup to Future Growth
Following the successful 2022 World Cup, Qatar is now focusing on diversifying its economy beyond hydrocarbons.In our 25th episode, we spoke to Akber Khan, Acting CEO of Al Rayan Investment, to discuss Qatar's post-World Cup strategy.In this episode, we covered several topics including:Qatar's economic landscape before the 2022 World CupThe challenges Qatar's economy faces in the co
Episode 24-Bricks and Bytes: Iraq's Real Estate Tech Boom
Real estate is becoming a major sector in Iraq's economy. According to Statista, a Germany-based market research and data company, it's the fourth largest among Arab countries and is expected to grow at a healthy rate of 6% over the next few years. In our 24th episode, we spoke to Mahdi Zewin, founder and managing director of Bayt Al Iraqi (BaytIraqi), a new Iraq-based proptech company.
Episode 23-Islamic Fintech: Navigating the Landscape and Challenges
Over the past decade, digitalisation and technology have transformed financial services, including payments and interactions between customers and businesses. Islamic fintech aims to do the same but in a Sharia-compliant way.So, what makes Islamic fintech different? What challenges does it face, and what does its future look like?In our 23rd episode we spoke to Abdul Haseeb Basit, a digital financ
Episode 22-Redefining Islamic Finance: The Tech Disruption
Emerging technologies like cryptocurrency and blockchain are rapidly growing in financial services, including Islamic finance. These technologies promise to democratize and improve services, but some argue that Islamic finance still mirrors conventional products.In our 22nd episode we spoke to Khalid Howladar, Founder and Managing Partner of Acreditus, an advisory firm specialising in credit, Isla
Episode 21-Gulf investment boom: Inside the rise of private capital
In recent years, private capital and institutional finance in the Gulf have surged, with investors venturing into infrastructure and emerging areas like private credit and equity. This has attracted attention from major players like BlackRock, especially focusing on key Gulf markets such as Saudi Arabia.In our 21st episode, we spoke to Richard Banks, a seasoned expert in financial communication an
Episode 20-Turkey’s Economic Shift: Crisis or Comeback?
Since the May 2023 Presidential elections, Turkey's economic policy has changed significantly. Mehmet Şimşek, now the finance minister, signals a return to orthodox economic policymaking. This includes raising interest rates and implementing key reforms.However, challenges persist with a weak currency, high inflation, and declining FDI. The March 2024 local elections marked a critical moment
Episode 19-Rising Down Under: Australia's Islamic Finance Landscape
In recent years, Islamic finance has gained traction in Australia. With Muslims comprising 3.2% of the population and a median age of 27, their financial needs align closely with their religious beliefs. Moreover, Australia's trade with Muslim nations like Indonesia and the UAE underscore the growing importance of Islamic finance.Yet despite these positive trends, the industry faces challenge
Episode 18-Libya Uncovered: Post-2011 Dive into Politics & Economics
Since the 2011 revolution ousted long-time leader Muammar al Gaddafi, Libya has been in turmoil, with rival factions fighting for control amidst vast oil reserves. However, conflicts intensified notably after 2014, worsening the nation's instability.Last year, the IMF highlighted Libya's economic paradox: despite high GDP per capita, challenges persist due to heavy reliance on hydrocarbo
