Do THIS with your bank account today to stay safe

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Since filming this video, the Federal Deposit Insurance Corporation (FDIC) has begun seizing the assets of Silicon Valley Bank, marking the largest bank failure since Washington Mutual the 2008 financial crisis.
This is a big deal and has huge implications for all of us and in this video I highlight why, as well as why this problem never would have happened under a truly Islamic economy.
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Remember, with investing, your capital is at risk. This is not financial advice. If in doubt, always talk to a financial advisor.
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TIMESTAMPS
00:00 - Intro
00:37 - Something BIG happened since we filmed this video
00:46 - What happened?
02:58 - Why Western banking needs Islamic banking
04:36 - How an Islamic banking system would work
08:26 - What should you do?
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Who are we:
We are two Oxford grads who have studied Islamic finance both at uni and classically for over 6 years. We quit our corporate law jobs to go full-time on IFG in 2020. We are on a mission to help 25% of the world's population with their personal finances.
Islamic Finance Guru (IFG) is an Islamic finance comparison and analysis site that helps people with their investment, personal finance and entrepreneurial journeys.
We do this for one reason: to make our community better-off. We want to take Muslims from being among the poorest in society to the richest. We think that this is the most effective way to deal with problems like discrimination, under-representation and poverty. For more about the team visit: www.islamicfinanceguru.com/ab...
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#siliconvalleybank #financialcollapse #recession2023 #islamiceconomics #halal #sbv #islamicfinance #ifg

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Опубликовано:

3 июл 2024

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Комментарии : 26

@mzosama Год назад

Great Video. I think we have to go to the core of today's economic system. And it is very simple. You already shared it in the last part of the video. I believe that the govts around the world need to back their currencies with tangible assets and stop the fractional banking system. The risk capital shall not be shown as assets by the banks. There shall be an index or basket of tangible assets which the govt shall hold at all times. Such index shall contain, mostly gold, silver, and other precious metals, followed by commodities. Jazak Allah.

@SohaibAshraf Год назад

Really helpful explanation 🙏

@khalid21630 Год назад

Phew! I'm glad you made that clarification at 6.10 mins as in reality there is no such thing as Islamic banking while operating in the Western system of Fractional Reserve Banking. They all function the same with subtle differences that some claim is 'halal'. In fact Islamic Banking is impossible as if a bank did perform 'Islamic Banking' as you defined it would no longer be regarded as a bank since the sole purpose of a (Retail) bank is to provide finance at interest and not invest, trade and profit share with its customers/account holders.

@khalid21630 Год назад

@Islam non-existent at the moment unfortunately. May Allaah rectify the affairs of the Ummah. Aameen.

@unknownus3r Год назад

Technically you're not wrong my brother, but while I don't insinuate this against you, people incorrectly use this as an argument to fulfill the desires of shaytaan and engage in riba

@musaabsi Год назад

I think the logic behind using the current islamic banks is the least harmful available option until something better comes around

@mkr2370 Год назад

Just to add, whilst spreading your money amongst various bank accounts, be mindful that these banks aren't part of the same group. In which case combined £85k is covered only.

@wag1513 Год назад

Correct me if I’m wrong but the uk gov will only guarantee £85k per individual regardless if you have several bank accounts spreaded out

@Le001M66 Год назад

So how does this play out with institutions such as Wahed? I used them to open my first Roth IRA around the time they first opened. I put a nice chunk of change into it, and now I'm wondering if I should eat the penalty charges and just park my money into physical assets considering all the events that have happened in the last several years. Things are looking grim

@IFGuru Год назад

I wouldn't anticipate any issues with this unless Wahed is caught up with the svb collapse which I don't believe they are.

@SL-nj2oi Год назад

Assalam alaykum dear brother, jazak'allah khyrain for the excellent content and advise. I have a home purchase plan with Al Rayaan bank UK. I am in need of some advice on acquisition payment, paying the amount earlier. I would be very grateful If I could get your advice on this. May Allah reward you greatly. Ameen

@aali87 Год назад

Deposits in a bank account aren't an investment though. It is a loan to the bank technically. If it was an investment you'd be in a different position in the creditor hierarchy. SVB major issue asset side was not building out a proper loan book; variable rate lending is a natural hedge in a shifting rates environment. Instead they bought heavily at the top of the market in the longer end of the curve. Combine this with a very risky funding strategy; operational deposits from start ups with little to no sticky deposits in a changing business cycle. Also they stuffed their bond holdings into HMT instead of AFS to avoid PnL losses and to hide balance sheet deficiencies. Very idiosyncratic issues. Atrocious balance sheet management

@user-dl8le5cs6t Год назад

So should i withdraw all my money from the bank in the us?

@IFGuru Год назад

No - just spread it across a few. Don't hold unnecessary cash convert to investments

@DrBilalHussain Год назад

How is USDC linked with Silicon Valley's Bank run?

@IFGuru Год назад

Don't think it is?

@tazam11 Год назад

They had about 3.3 billion in SVB

@nafisrahman5791 Год назад

Circle the company which manages USDC holds 25 percent of it's reserves in cash... the cash reserves are held in 6 banks... one of the 6 banks that circle held these reserves was silicon valley bank. So once that bank fell USDC DE pegged and dropped to around 90cents... they are currently awaiting clarity from on how the FDIC receivership of SVB will impact its depositors...which basically means they are awaiting to see if the us government will step in to make sure depositors don't lose their cash...