Mohamad Sawwaf's guest appearances

Mohamad Sawwaf

Fintech Impact

Beyond the Degree

Financial Planning For Canadian Business Owners

Sheldon Brow

Jason Pereira

Gil Petersil

Chad Davis

Melissa Best

Jennifer Couldrey

Tom Deans

Cato Pastoll

Guy Anderson

Kevin Kliman

Preet Banerjee

Steve Sanduski

Henry Zhu

Ethan Buchman

Dan Doney

OwlTail

Jason talks to Mohamad Sawwaf, Co-founder and CEO of Manzil. Manzil is a Canadian-based Islamic banking and finance platform. In today’s episode, he is going to talk about Islamic finance and how he is using Fintech as a platform for distributing Islamic finance in schools. Episode Highlights:1.15: Manzil was created to fill the gap of the 1.6 million Muslims here in Canada to get into homeownership and wealth management solutions and start to build their wealth for the first time.5.05: No one is talking about any desire to circumvent the tax code. It is to recognize that the tax code is designed to allow certain things like home purchases to happen in a way that is not going to be punitive from a tax perspective, says Jason. 8.27: Murabaha is a cost-plus situation. Therefore, this is the number one stipulation for entering into these transactions or focusing on asset-backed or asset-based transactions.11.00: There is a massive misconception about recourse on the asset. If you have an asset that hasn’t fully paid off, you have full recourse on that asset. Sell it off, make yourself whole again, and give it back to the client whatever is left. There’s nothing wrong with that, says Sawwaf.17.54: Jason asks, what else is lacking in the current ecosystem that needs to be brought to the table for people who need to borrow or operate in a whole all manner? 19.35: Funding and capital attraction into programs is a genuine big concern that we’re still solving. We do have access to retail-based capital, but at the institutional level, we need to get that good cost in place and launch this at scale, says Sawwaf.22.40: The endowment fund is the largest globally, and one of my friend who went to Harvard was getting a loan from the endowment fund. But the rules around him paying back are super egregious. So you cannot pay this back early even if you want to.3 Key PointsWhen you think about Islamic financial solutions, there is a religious component to how these structures are derived and executed in the marketplace. We can go over the theory, and in theory, everything sounds fine, says Sawwaf.16.01: We are a 100% digital platform. This is the only way to penetrate our community across the country without establishing bricks and mortar, retail branches, or offices that the typical financial institution would do, explains Sawwaf.There are so many advisors down there who specialize in dealing with student debt because every program in a word for forgiveness has all kinds of complexities. Tweetable Quotes“You can’t take money from me because money lending in Islam is not a commodity. You can’t earn money from money, and it’s not allowed.” - Mohamad Sawwaf“Christianity got around the usury laws within the Bible, which was to discount bonds originally.” – Jason“Talk to me about the risk mitigation for the non-primary party in diminishing Musharakah or declining balance type of transaction.” – JasonResources Mentioned:Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInWoodgate.com – SponsorMohamad Sawwaf: Website  Hosted on Acast. See acast.com/privacy for more information.

Jason talks to Mohamad Sawwaf, Co-founder and CEO of Manzil. Manzil is a Canadian-based Islamic banking and finance platform. In today’s episode, he is going to talk about Islamic finance and how he is using Fintech as a platform for distributing Islamic finance in schools. Episode Highlights:<ul><li>1.15: Manzil was created to fill the gap of the 1.6 million Muslims here in Canada to get into homeownership and wealth management solutions and start to build their wealth for the first time.</li><li>5.05: No one is talking about any desire to circumvent the tax code. It is to recognize that the tax code is designed to allow certain things like home purchases to happen in a way that is not going to be punitive from a tax perspective, says Jason. </li><li>8.27: Murabaha is a cost-plus situation. Therefore, this is the number one stipulation for entering into these transactions or focusing on asset-backed or asset-based transactions.</li><li>11.00: There is a massive misconception about recourse on the asset. If you have an asset that hasn’t fully paid off, you have full recourse on that asset. Sell it off, make yourself whole again, and give it back to the client whatever is left. There’s nothing wrong with that, says Sawwaf.</li><li>17.54: Jason asks, what else is lacking in the current ecosystem that needs to be brought to the table for people who need to borrow or operate in a whole all manner? </li><li>19.35: Funding and capital attraction into programs is a genuine big concern that we’re still solving. We do have access to retail-based capital, but at the institutional level, we need to get that good cost in place and launch this at scale, says Sawwaf.</li><li>22.40: The endowment fund is the largest globally, and one of my friend who went to Harvard was getting a loan from the endowment fund. But the rules around him paying back are super egregious. So you cannot pay this back early even if you want to.</li></ul> 3 Key Points<ol><li>When you think about Islamic financial solutions, there is a religious component to how these structures are derived and executed in the marketplace. We can go over the theory, and in theory, everything sounds fine, says Sawwaf.</li><li>16.01: We are a 100% digital platform. This is the only way to penetrate our community across the country without establishing bricks and mortar, retail branches, or offices that the typical financial institution would do, explains Sawwaf.</li><li>There are so many advisors down there who specialize in dealing with student debt because every program in a word for forgiveness has all kinds of complexities. </li></ol> Tweetable Quotes<ul><li>“You can’t take money from me because money lending in Islam is not a commodity. You can’t earn money from money, and it’s not allowed.” - Mohamad Sawwaf</li><li>“Christianity got around the usury laws within the Bible, which was to discount bonds originally.” – Jason</li><li>“Talk to me about the risk mitigation for the non-primary party in diminishing Musharakah or declining balance type of transaction.” – Jason</li></ul> Resources Mentioned:<ul><li><a href="https://www.facebook.com/jason.pereira" rel="noopener noreferrer nofollow" target="_blank">Facebook</a> – Jason Pereira’s Facebook</li><li><a href="https://www.linkedin.com/in/pereirajm?trk=org-employees_mini-profile_title" rel="noopener noreferrer nofollow" target="_blank">LinkedIn</a> – Jason Pereira’s LinkedIn</li><li><a href="https://www.woodgate.com/#plan-prosper-preserve-financial-planning-toronto" rel="noopener noreferrer nofollow" target="_blank">Woodgate.com</a> – Sponsor</li><li>Mohamad Sawwaf: <a href="https://mohamadsawwaf.com/" rel="noopener noreferrer nofollow" target="_blank">Website</a> </li></ul> Hosted on Acast. See <a href="https://acast.com/privacy" rel="noopener noreferrer nofollow" target="_blank">acast.com/privacy</a> for more information.

Manzil with Mohamad Sawwaf | E213

Today, Islamic finance and the challenges it brings to people who follow that faith, particularly business owners, and how those restrictions around Islamic finances can be adapted to many of our current financial structures that are not supportive of it. But there are options, and to discuss that, we have Mohamad Sawwaf, co-founder of a company called Manzil. Episode Highlights:02.00: Islamic finance is finance before interest, and that is the difference in terms of what we see today. Islamic finance’s main principle is that money has no value, says Sawwaf.04.25: Jason says that as a Muslim, you can’t borrow, and that is incredibly restrictive from a business owner’s standpoint. He asks, about the other means for accessing capital to buy homes or even start your own business?12.21: Mohammad says that they are starting to see a real growth spurt in the Islamic Fintech space regarding innovative solutions, especially in the digital area that allows financial transactions to be much more simplified and accessible.13.32: When you consider diversifying your investments as a Muslim investor, especially when it comes to the fixed income market, Islamic bonds are available, and they are called Sukuk, says Sawwaf.15.37: Jason asks what does that look like if any Muslim in Canada, looking for a new business or building a manufacturing plant and wants to do things in a Halala method?22.51: Today’s people are renting and avoiding homeownership because they want to sleep at night peacefully, knowing that their financial affairs are in order from an Islamic perspective, says Sawwaf26.24: Federally, all meat out of New Zealand and Australia are halal because they export more than they consume and export to neighboring countries like Malaysia, Indonesia, and Singapore that require, says Sawwaf.29.08: When you are trying to diversify an economy, and if you want to stick with primary industries, you have to create some specialties, says Sawwaf.31.24: As per Sawwaf, nothing stops us from creating product industries except the capital required to bring it out into the open. There is no shortage of demand for anything.3 Key Points:Sawwaf says that for inventory financing, as long as there is the element of shared risk in a moment and the asset-backed or asset-based transaction principle is fulfilled, we are good to go.The bigger issue is the infrastructure. It just hasn’t gained mass adoption around the world the way it needs to supplant or replace the needs of the Islamic community, and traditional banking would otherwise provide if they could do it, says Jason.When you look at Census Canada, you see that Muslims have the lowest participation rates of homeownership and capital markets. It is not because of our balance sheet. It is because of a lack of power and rights, says Sawwaf.Tweetable Quotes“Multiple mechanisms allow you to do larger types of transactions, like buying a car or home, all happening under the pretense of Islamic finance.” - Mohamad“The halal meat industry is a $2 billion industry in Canada that the FDA of Canada entirely regulates.” - MohamadResourcesFacebook – Jason Pereira’s FacebookMohamad Sawwaf: Website LinkedIn – Jason Pereira’s LinkedInTranscript Hosted on Acast. See acast.com/privacy for more information.

Today, Islamic finance and the challenges it brings to people who follow that faith, particularly business owners, and how those restrictions around Islamic finances can be adapted to many of our current financial structures that are not supportive of it. But there are options, and to discuss that, we have Mohamad Sawwaf, co-founder of a company called Manzil. Episode Highlights:<ul><li>02.00: Islamic finance is finance before interest, and that is the difference in terms of what we see today. Islamic finance’s main principle is that money has no value, says Sawwaf.</li><li>04.25: Jason says that as a Muslim, you can’t borrow, and that is incredibly restrictive from a business owner’s standpoint. He asks, about the other means for accessing capital to buy homes or even start your own business?</li><li>12.21: Mohammad says that they are starting to see a real growth spurt in the Islamic Fintech space regarding innovative solutions, especially in the digital area that allows financial transactions to be much more simplified and accessible.</li><li>13.32: When you consider diversifying your investments as a Muslim investor, especially when it comes to the fixed income market, Islamic bonds are available, and they are called Sukuk, says Sawwaf.</li><li>15.37: Jason asks what does that look like if any Muslim in Canada, looking for a new business or building a manufacturing plant and wants to do things in a Halala method?</li><li>22.51: Today’s people are renting and avoiding homeownership because they want to sleep at night peacefully, knowing that their financial affairs are in order from an Islamic perspective, says Sawwaf</li><li>26.24: Federally, all meat out of New Zealand and Australia are halal because they export more than they consume and export to neighboring countries like Malaysia, Indonesia, and Singapore that require, says Sawwaf.</li><li>29.08: When you are trying to diversify an economy, and if you want to stick with primary industries, you have to create some specialties, says Sawwaf.</li><li>31.24: As per Sawwaf, nothing stops us from creating product industries except the capital required to bring it out into the open. There is no shortage of demand for anything.</li></ul> 3 Key Points:<ol><li>Sawwaf says that for inventory financing, as long as there is the element of shared risk in a moment and the asset-backed or asset-based transaction principle is fulfilled, we are good to go.</li><li>The bigger issue is the infrastructure. It just hasn’t gained mass adoption around the world the way it needs to supplant or replace the needs of the Islamic community, and traditional banking would otherwise provide if they could do it, says Jason.</li><li>When you look at Census Canada, you see that Muslims have the lowest participation rates of homeownership and capital markets. It is not because of our balance sheet. It is because of a lack of power and rights, says Sawwaf.</li></ol> Tweetable Quotes<ul><li>“Multiple mechanisms allow you to do larger types of transactions, like buying a car or home, all happening under the pretense of Islamic finance.” - Mohamad</li><li>“The halal meat industry is a $2 billion industry in Canada that the FDA of Canada entirely regulates.” - Mohamad</li></ul> Resources<ul><li><a href="https://www.facebook.com/jason.pereira" rel="noopener noreferrer nofollow" target="_blank">Facebook</a> – Jason Pereira’s Facebook</li><li>Mohamad Sawwaf: <a href="https://mohamadsawwaf.com/" rel="noopener noreferrer nofollow" target="_blank">Website</a> </li><li><a href="https://www.linkedin.com/in/pereirajm?trk=org-employees_mini-profile_title" rel="noopener noreferrer nofollow" target="_blank">LinkedIn</a> – Jason Pereira’s LinkedIn</li></ul> Transcript Hosted on Acast. See <a href="https://acast.com/privacy" rel="noopener noreferrer nofollow" target="_blank">acast.com/privacy</a> for more information.

Islamic Finance with Mohamad Sawwaf | E080

In this episode of Beyond the Degree, Talal and Angad speak to Mohamad Sawwaf, the Co-Founder and CEO of Manzil, an Islamic Financing and Investing company. Manzil helps Canadians actively participate in Halal investments. Talal and Angad also speak to Mohamad how he managed and still manages to stay sane throughout the demanding process of undergrad, post-grad, and now being the face of a startup.

Islamic Finance and Keeping A Cool Head in the Startup World | A Conversation with Mohamad Sawwaf