$𝗚𝗠𝗘: 𝗔 𝗚𝗔𝗠𝗘 𝗢𝗙 𝗧𝗛𝗥𝗢𝗡𝗘𝗦 & 𝗜𝗦𝗟𝗔𝗠𝗜𝗖 𝗙𝗜𝗡𝗔𝗡𝗖𝗘

Dubbed as the battleground between Wall Street & No Street, the $GME story captures several themes: CeFi vs DeFi, institutions vs individuals & the common sheep vs the wolves of Wall Street.

The rooks & pawns in this chess game are shorting & options. Shorting is not Shariah compliant. An Islamic Finance (IF) Fund cannot short any stock. Option trading is also non-compliant. This is the beauty of IF principles; it prevents chaos by banning such financial weapons.

IF sees the markets & society intertwined; markets are social markets. $GME exhibits this. An analyst commented, "Peculiar vigilante morality of the traders," and "it's a generational fight, all about robbing the rich to give to the millennial poor."

The markets were never meant to be vigilante battlegrounds; IF sees them as the centrepiece for civilisational and economic growth where everyone gets what they need in a fair & cordial way.

Profit can be made; there is no limit or cap in IF. However, this cannot be at the expense & loss of others. If we profit, we profit together. If we lose, we lose together.

Regardless of who does the checkmate in $GME, the game needs Islamic Finance.

#islamicfinance #markets