30
Oct
2017
7:28 AM

CRYPTOCURRENCY FROM SHARIAH PERSPECTIVE

Recently, one of my fintech students (Nadiyah Syahira Nordin) wrote a really nice article about Cryptocurrency From Shariah Perspective. I thought I will share it with you. You can find the paper in the IIiBF website and the paper .

Abstract

Cryptocurrency is seen to create a new phenomenon to the landscape of financial services industry. It has gained attention in attracting all relevant players in the industry to delve deeper into the issue. Preceding bitcoin as the inaugural prevalent product, cryptocurrency has been utilized as the medium of payment in various sectors. Owing to that factor, it is conceivable why it is taken as a new phenomenon. Islamic finance, being an integral part of financial industry, also concerned about this new emergence. The usage of cryptocurrency penetrated Islamic finance through the introduction of Mudharabah-based offering for small enterprises by Blossom Finance. Owing to this observance, this calls for an academic approach of cryptocurrency analysis from Shariah perspective. This is due to the reason that practices in Islamic finance without proper Shariah deliberation may run the risk of noncompliance. This research sought to identify the concept of cryptocurrency from its features and process. The technical features comprising of validating mechanism, mathematical algorithm and coins supply are analysed in the context of the fulfilment of currency prerequisites from Shariah perspective.

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20
Oct
2017
7:28 AM

Shariah Fintech Forum 2017

There will be a big forum coming soon organized by Association of Shariah Advisors in Islamic Finance (ASAS), Association of Islamic Banking Institution Malaysia (AIBIM), Malaysian Takaful Association, International Shariah Research Academy for Islamic Finance (ISRA), and IIUM International Islamic Banking and Finance (IIiBF). The event is called the Shariah Fintech Forum 2017 and will be a 2 day event on 7th and 8th November, 2017. We have all the big names sharing their experience, new regulations, market trends and research findings in fintech and shariah. Some are famous speakers who are experts in their area and some are new names in the area sharing research findings. So don't wait any longer, register this event. Download the form and reserve your seats before its sold out.

Below is a list of speakers in the 2 day forum :

Industry
  1. Azleena Idris (General Counsel and Head of Legal) of Kuwait Finance House (Malaysia) Berhad on (Overview of Fintech)
  2. Dato Arif Siddiqui, CIO of Standard Chartered
  3. Fazul Izwan, CTO of Sedania
  4. Mohammad Ridzuan Abdul Aziz CEO, Sedania As Salam Capital
  5. Raja Teh Maimunah of AmInvestment Bank & Managing Director of Wholesale Banking
  6. Dato Adissadikin Ali, CEO of RHB Islamic Bank Berhad
  7. Nizam Ismail, Partner, RHTLaw Taylor Wessing, Singapore
  8. Assoc. Prof. Dr. Aznan Hasan, President of ASAS
  9. Datuk Azrin Mohd Noor, Founder/Managing Director, Sedania Innovators Berhad
Research
  1. Dr. Marjan Muhammad, Head of Research Quality Assurance Office of ISRA on Shariah Analysis of Cryptocurrency
  2. Dr. Farrukh, Researcher of ISRA on Smart Contracts
  3. Dr. Rizal Mohd Nor, Researcher of IIUM on Islamic Fintech for Finance and Capital Markets
Technology
  1. Yousof Sultan, Shariah Tech Consultant of Ethis Ventures
  2. Lokesh Gupta Founder/CTO of RM Applications
  3. Dr. Muhammad Reza Zaaba, Staff Researcher of Mimos Berhad on Evolution of Money
  4. Rene Bernard, CEO of LuxTag and President of Access Blockchain Association Malaysia
  5. **Adam Dahlan Head of Compliance, PayHalal
  6. Joann Enriquez @Maryam Chief Operating Officer, Ethis Ventures
Regulators
  1. Marzunisham bin Omar Assistant Governor Central Bank of Malaysia (Bank Negara Malaysia)
  2. Wan Malawati Wan Mansor of BNM FTEG group on REGULATORY AND LEGAL FRAMEWORK FOR FINTECH STARTUPS
  3. Dr. Solahuddin Shamsuddin, Chief Technology Officer, CyberSecurity Malaysia
  4. Cybercrime Unit of PDRM
  5. Malaysian Communications and Multimedia Commission (MCMC)

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10
Oct
2017
7:28 AM

The scalability and traceability of bitcoin and blockchain based cryptocurrency

They are many concerns about bitcoin and most cryptocurrencies. On one hand there are a lot of criminals who like it because it is anonymous. Illegal trades can be easily conducted and we have seen this before where the mode of payments for WannaCry Ransomware used bitcoin as a mode of Ransom payment1. But there are a lot of other criminals out there as well. The types that take advantage of other people's greed and gullibility. Creating getting rich schemes such masquerading as a investment fund manager. Often times, people lose a whole lot of money in this scams and unregulated investment firms.2. However, that does not mean it is totally anonymous3. While there is a way to find these perpetrators, the authorities should now be smart and start monitoring illegal activities better.

On the other hand, the distributed nature of bitcoin makes it desirable for it to be used as a backend system that is both reliable and fault tolerant. However, there is also doubts about it to be totally scalable4. This articles shares some links about arguments made on these two issues.

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26
Jul
2017
11:25 AM

Quirks With Android Studio Emulator

Just installed Android Studio 2.3.3 on my debian box. Unfortunately, I can't get my emulator to start. If you have the same problem, this might be one of the ways to fix it.

This is instructions on how to get android studio 2.3.3 emulator to run with KVM. KVM is the default emulator to run androi...

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