Gambian financial guru sees Islamic finance as the panacea to economic problems.
“While everyone searched for solutions for the global financial meltdown resulting from credit crunch in 2008, I had found salvation in Islamic Finance,” Kemo Barrow told a class of graduating students in Detroit. At the time of the crisis, Kemo was a financial representative at John Hancock, offering clients conventional financial products, which include insurance, retirement planning and investment opportunities.
“I have since become obsessed with the wisdom I discovered in Islamic finance. This forced me to pursue a certificate course with the Institute of Islamic Banking and Insurance in the United Kingdom.”
Armed with the certificate and prior knowledge and wealth of experience in financial matters, Kemo embarked on spreading Islamic finance knowledge. There was no better place for Mr. Barrow to pursue his goals than the Muslim Center of Detroit where he launched and completed a seven-month pilot program.
The monthly pilot Islamic financial seminar was a collaborative efforts of Dream of Detroit, a Detroit-based not-for-profit organisation and MA Global Investment Advisers, a Michigan based Investment firm where Mr. Barrow serves the Marketing Director.
The pilot program ran between February and July 2017. Graduating students covered the following modules:
-Introduction to Islamic Finance
– Principles of Islamic Finance
– Halal Investment
-Zakat and Resource Mobilization
– Basic Financial tips (budgeting, getting out of debt, staring your own business etc)
_ Your wealth (Aligning your wealth with Islamic financial principles.
The main objective of these program is to create awareness of the importance of Islamic finance, inform and empower participants with Islamic finance principles, products and Institutions, especially in the United States.
Imam Ceesay offered prayers for graduating students and commended Kemo Barrow for his steadfastness and willingness to empower people with wealth creation knowledge. “Islamic Islamic finance is very important,” Imam Ceesay said. “As Muslims, we need to reflect on the roles Othman and Abubakr Siddiq (Companions of Prophet Muhammad) had played during the early days of Islam. These people generated wealth and empowered Islamic with it,” Imam Ceesay said, exhorting graduating students to serve as Ambassadors of this Islamic Finance. “Invite your friends and family members to enroll in future Islamic finance seminars. Through this program, you will understand and appreciate the Islamic way of wealth creation or financing.”
Those who want to sponsor a lecture or seminar on Islamic financial classes can contact Kemo Barrow on (313) 784-5128 or Kairo Radio at email@example.com.
Thank you so much Uncle Kemo. I like this article.
Thank you A.B. Sarr. Your feedback is much appreciated. I think Musa Saidykhan deserves kudos for his exceptional news editing skills. Let’s all pray for him for sticking to his gun despite going through tortures. The guy is an inspirational for all of us. Prophets, they say, are never celebrated at home.
Unless we turn to Islamic Finance, we will always have the credit crunch similar to the 2008. Since the conventional way of banking has failed us, why not give Islamic Finance a shot? We need to study and understand this method and capitalise on its benefits.
Anta, thanks for that brilliant observation. Yes, you really hit the nail on the head. If the World Financial system was based on the Islamic Economic system, the 2008 financial meltdown could have been totally avoided or the impact would have been minimized.
Yes Islamic finance is the trend and you right, we need to embrace, study, practice and apply it in our daily financial, social and Islamic life.