Tag Archives: behavioral economics

12 Financial Stories for Muslim Kids

It was then my daughter’s first summer vacation after graduation in elementary. Over lunch I was mentioning to her the articles I was planning to post at one of my blogs – www.MuslimandMoney.com – and also the book – ‘Muslim Couple and Money’ – I was currently writing then.

Curious enough, she asked, “Papa, do you have also plan to write ‘Muslim Kid and Money’ for us youngsters?”

Almost spontaneously, I replied, “Yes, I also want to… Can you help me in this project?” 

Forthcoming Publication: “Muslim and Debt”

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As a sequel to “MUSLIM COUPLE AND MONEY: 8 PRACTICAL FINANCIAL TIPS FOR NEWLYWED MUSLIM COUPLE,” the following book will soon be published, insha’ Allah:
 
“MUSLIM AND DEBT: 5 PRACTICAL STEPS TO FREEDOM FROM DEBT” (MuslimandMoney.com, 2016, US$2.99)
 

Debt Management and Supplication

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A modified transcript of 20-minute presentation of the paper “Debt Management in Behavioral Economics and Personal Finance as Reflected in Sahifah al-Sajjadiyyah” at the 3rd International Conference on Thoughts on Human Sciences in Islam, Jakarta, Indonesia, November 16, 2016.)

Respected elders, distinguished scholars, and brothers and sisters in Islam as well as in humanity! Let me greet you all with the greetings of peace: Salamun ‘alaykum wa rahmatullahi wa barakatuh!

(I’m making this presentation while assuming that all these many seats are filled with both the jinn and human beings – both the sleeping and the awake. In this unholy hour when everybody wants to sleep, I am uniquely fortunate enough to be surrounded by two esteemed Mesbahs (alluding to Dr. Ali Mesbah and Dr. Mohammad Mesbahi as fellow presenters in the same plenary session). As we all know, mesbah in Arabic, Persian and other languages means ‘lamp’. Since I believe I’m illuminated enough by two lamps, I’m optimistic that you will not mistakenly see me as a pillow or blanket.)

At the outset, let me take this opportunity to extend my heartfelt gratitude to the conference organizers, particularly the Director of the Sadra International Institute, and generally to all the members of the steering committee down to the drivers and guides. This is my first to come to Indonesia, although I may look like an Indonesian or even more ‘Indonesian’ compared to some Indonesians. I come from Mindanao, the land of promise and the bastion of centuries-old struggle for self-determination in this part of the world.

Before laying down my paper’s Statement of the Problem, let me first make some introductory remarks about behavioral economics and personal finance as well as about homo economicus vis-à-vis homo islamicus. I shall also clarify the kind of ‘debt’ which is the concern of this paper. After giving you the Statement of the Problem, I shall address the four secondary questions one by one and finally make a conclusion.