When it comes to education, it can only go so far and putting the things that one has learnt into practice is what makes it effective. Education especially in business should follow this thought. According to Almir Colan, a Director of the Australian Centre for Islamic Finance (AUSCIF), a setup like Silicon Valley should be established for Islamic finance so that people can learn from established entrepreneurs and under their guidance be encouraged to start a business. In addition, Almir argues that Islamic finance goes hand in hand with the Islamic economy and that if we want to see something out of Islamic finance, we should start to invest in our schools. Furthermore, we should orient ourselves, the business sector and education sector in such a way that everyone is taught how to start a business regardless of their job or career. When a number of people in each profession start their own businesses and employ the rest, production happens and employment can be provided for all.

In this episode, Umar Munshi, co-founder and Group Managing Director of Ethis Global interviews Almir Colan, a Director of Australian Centre for Islamic Finance (AUSCIF). Almir is a prominent figure in the Islamic finance industry and serves as an advisor to community finance and investment institutions. Furthermore, he is also the CEO of Olive Investments, an investment firm committed to an ethical portfolio in the Australian healthcare sector. He was previously a consultant lecturer at La Trobe University Australia and is a member of a working group of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). Join us as Almir shares his experience with AUSCIF, the role Islamic finance can play in the current crisis and some advice for new businesses looking to adopt Shariah principles.

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