Ruggiero Lomonaco | From Agnostic Italian to Leading Islamic Finance: AMAZING Revert Story
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- Опубліковано 20 кві 2023
- In this interview, we sit with a behemoth in the Islamic Finance industry Ruggiero Lomonaco. He goes through his story; from humble beginnings as an average Italian guy to coming to Islam to witnessing what would become the boom of global Islamic banking. We definitely need a part two.
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TIMESTAMPS
00:38 - Introduction to Ruggiero
01:24 - Coming to Islam
06:24 - Dreams led me to Islam
07:36 - Seeking explanations from Christians
09:16 - 3 years later, no answer
12:04 - First engagement with Islam
15:27 - Islam in Italy
17:25 - Starting of in Islamic Finance
24:40 - Islamic Finance in the early days
28:37 - How to start a bank
30:52 - HSBC launching Amanah
31:37 - Non-Muslims created Islamic Banking
35:27 - Next turning point for Islamic Banking industry
42:45 - Issues in Islamic Finance and how to fix them
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#islamicfinance #islamicpodcast #islamiceconomics #shariacompliant #halalinvesting #halalinvestment #revert #revertstory #revert #reverttoislam #converttoislam #ifg - Розваги
My cousins husband is a Sicilian revert Muslim after him his sister accepted Islam now in full niqab and then his mother and father also took shahada! May Allah grant all Italians guidance, most of them are very kind people.
What he is describing is like the verses in the Quran where Allah says those with knowledge or wise can see our signs everywhere. Subhanallah
That is exactly what I was thinking as I listened to the brorher.
lol bro stop this bs thinkning to grab a ruling to put here and there you cant do that lmao
Very true. Interseting guy
so true not that i know myself as someone with knowledge or wise, but everywhere i look at i see so many think that i admire, ask how, and say how beautiful or this is impossible by its own while bewildered, even many things that i notice while my body functions i get fasinated as i ponder on many functional things.
@@AA-nb2ky read the book of Allah it is uncreated
"Don't deny my existence. I'm more powerful than you."
These are the words every atheist should hear.
when he said these and burning tree on top of the mountain instantly reminds me about prophet Musa alaihis salam..subhanallah
Once you are a Muslim your appearance and personality totally change with happiness just like brother Ruggiero. Alhamdulillah 🤲 from Malaysia 🇲🇾
facts
👍 spot on observation
I’ve been to Rome recently, and the brother’s accent is bringing me back. Never did I ever expect to hear this accent talking about Islam 😂♥️ Alhamdulillah ma sha Allah
Allah guides whom He wills. May He bring all of the Italians to Islam, including the Pope and make him the Mufti.
Same hhhh
The Italiano accent is so so sexxy ... upps.. sorry ... Astagfirullah 🤭
Same. And all of a sudden Islam seems even more interesting to me. With this accent I'd like to listen to him about Islam all day long. 😅
Subhanallah for others mashallah for yourself 😊
I am extremely delighted to learn the insight of our brother Ruggiero. He is the real Hero. May Allah SWT guide him through rest of his life and us as well. From: Pakistan
A very strong person. You can imagin what he, as an Italian, had to overcome or battle in order to "come out" for his faith. Deep respect.
MashAllah Azwajal. As a revert and someone who works in finance I've really enjoyed this talk.
Fantastic content on this channel
What a fascinating revert story, mashallah!
Indeed
Guidance from Allah
الحمد لله .
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not strongly reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
I wish this was 4 hours longer! Please have him back again very soon inshaAllah
MashaAllah.. i listen to him like a kindergarten kid to my story telling teacher. I am 43yo man.. 😊😊😊
Same here, what remarkable journey!
I'm 57😂 same😂😂😂
You're right.. alhamdulillah
Me too😂
Me 3 😂
17:50min...
"What is riba? Explain...
Oh dear.." 😲
(May Allah save us all from engaging in riba)
Mr Ruggiero should start a podcast advising or teaching muslims how to deal in finance islamically. Majority of us are unaware and don't know where and who to go to.
This guy is blessed Subhanallah
Wow. Doesn’t that Italian brother still look younger than the host himself?! Although being 21 years older.
That's Italians for you, they age very gracefully thanks to a great diet and dedication to exercise. The host is an Indo-Pak and they have a diet that is the complete opposite of Italian and a disdain for exercise and physical activity. With the exception of the Pashtuns, Kashmiris and some other mountain dwellers, they age horribly
Olive oil bro
Please do invite Ruggiero back again.
This is the most fascinating and captivating interview till date.
Inspiring on so many levels! SubhanAllah.
May Allah bless Br Ruggiero and all of us with his Aafiyah in this duniya and akhirah, Aameen Ya Rabb!
Italians can be really good for daawa, they are very expressive. Thank you so much Ruggiero for sharing your story
That Malaysian lady who gave a Quran to Ruggiero in that bas....she would have been elated to the news of Ruggiero accepting Islam ❤
I had a dream about the day of judgment.. In my 20s, I will never forget, human beings were standing like ants /moths under the light, everywhere darkness except this light, this was focused on humanity.
Everyone was facing same direction some people were under the shades others were not, it was peaceful, you can hear a pin drop, it's like everyone stopped breathing, The light coming from one direction, it's different kinds of light. It's a light like no other light. Since then it took long time for me to find peace. Just to live on earth.
Shell I gift you a Quran?
@@storyteller6204 Thank you, I bought few copies. I am Muslim.
What a dream… I def left an imprint on your mind.
May we all pass the day of judgement with ease solely by the Mercy of Allah and the intercession of our prophet Muhammad- peace be unto him
@@napez4126 Not just my mind, it changed my perspective on life and everything else, life really is a temporary gift, I just wish people would not start wars but to good.
THE Prophet Muhammad (p.b.u.h.) said: “There are seven whom Allah will shade in His Shade on the Day when there is no shade except His Shade: a just ruler; a youth who grew up in the worship of Allah, the Mighty and Majestic; a man whose heart is attached to the mosques; two men who love each other for Allah’s sake, meeting for that and parting upon that; a man who is called by a woman of beauty and position (for illegal intercourse), but be says: ‘I fear Allah’, a man who gives in charity and hides it, such that his left hand does not know what his right hand gives in charity; and a man who remembered Allah in private and so his eyes shed tears.’”
Blessed are the eyes that see signs of Allah in everything
Most amazing story.... As a revert Voice spoke twice to me.... After all these years I still can hear it!!! May brother Ruggiero go from strength to strength Inshallah
Did you also revert because of a dream? That’s amazing
Can you describe that voice?
Subaghana-Allah
All the subtle things unfolding a non believer would say it was a coincidence. But it was The All Subtle Al Lateef getting him ready for embracing Islam. Welcome to the truth brother Ruggiero
What a statement: Sometimes I should listen to my advice 😂, Maa shaa Allah, very symphatic! I enjoyed the video!
May Allah protect us from all evil and harm!
What an intelligent, well spoken charismatic man this is. MashAllah .
Im from Malaysia and this is amazing.. amazing story
malaysia, off course
😏😃
Dear brother Omer Lomonaco, Allah has chosen you for a reason. After listening to your fascinating story, it's the riba free Islamic banking system Allah has chosen you for. One day in sha Allah, you will contribute to this great cause. May Allah guide you. Aameen
True🎉
Hidayah is a very precious gift, Masya Allah!
May Allah give me and my family hidaya. Ameen. And everyone else also. Ameen.
One of the most beautiful reversion stories I’ve heard in my life. Subhan-Allah allahu-akbar !
Pure lending- i.e Islamic banking, should not be a commercial activity . Well said bro Rogerio
Why?
Yep that light. I saw it twice too before reverting and in the past I saw it multiple times
Salam. Please describe your experience
Italians are friendly and funny people. May Allah reward him for sharing his journey with us.
These spiritual experiences the brother had are described by the scholars of tasawwuf. He is very fortunate to have been given these.
which scholars of tawasuf
@@GilesHartop Sunni tasawuf scholars like Al-Ghazali, Imam Suyuthi, Al-Junayd, Ahmad Faruqi al-Hindi etc.
@@gmail645 there is no such thing as tsawwuf in islaam these concepts are shia based.
@@GilesHartop Prove it!
@@gmail645 i gave you imama dhahabi siyar nubala did u even read the text lol fool
You can certainly tell that he is very passionate about Islam and his job
Amazing guy, Amazing story! He's so humble, and filled with light humour! He's Adorable 😍 Love him ❤️ 💕 💖
Thanks for bringing us such lovely souls!💖
Alhamdulillah... i am happy that a soul from Malaysia did some how contribute to your conversion.
I would very much like to see more episodes with Mr. Lomonaco on the history and conteporary issues of IF. The experience that he can share with us is priceless. I found myself listening attentivly to him the entire episode, Allah really blessed our brother with an eloquent speech. May Allah reward you all for your effords and grand you even more knowlwdge.
Wow, what a story! Incredible. Sorry but I just had to say how is 22 years older than the interviewer. They look the same age.
Allahumma barik he looks great for his age for sure
The insights of a revert reflecting on experiencing the Quran for the first time are mind blowing.
Verses I’ve read my whole life hit different after this video
SubhanAllah, what a story, the thing about the sister that he talked in the bus gave me goosebumps, only Allah put here there with a reason.
I was blessed to visit Rome Mosque. Yes it is biggest mosque in Europe. Beautiful.
Definitely, his final remarks on what's wrong with Islamic banking hits the nail. Islamic banks acts with the mind of a conventional one, in terms of maximising returns and profits, Adab or ethics is neglected. We need a real transformation in that regard.
Of course, this is in relation to Islamic economics and departing from the capitalistic view of hoarding capital.
Prof. Asad Zaman wrote extensively on that topic.
Have they not then observed the sky above them, how We have constructed it and beautified it, and how there are no rifts therein?
I trust him. He looked around and reflected better than us. Allah guided him.
Mashallah my Italian brother god choosing you as Muslim ☝️💕💕🥰🥰💐💐❤️❤️
This is one of the most amazing revert stories I have ever heard. Subhan Allah. Allah showed Him signs and gave him succes to see, hear, and accept them. That is the Favour of Allah which He bestowes on whom He wills. Allahu Akbar.
What an amazing story this young man has shared with us regarding his journey to Islam...”Allah guides whom he Wills” and HE has no partner to discuss that with.
Allahu Akbar
Italians are the most honest people in Europe, but this guy is a thinker with a very powerrful imagination... Interesting guy.
It really eeman boosting to hear about how Allah chose him, may Allah bless us with eeman till we enter jannah.
Also the pleasure of listening to a thorough professional knowing his trade well.
That "Ha Ha" every time there is a realization 😂 11:43
Amazing story of this person!
Thank you for sharing.
Absolutely amazing! I suck at maths, don't understand finances but I was so hooked and mesmerized by all the details that I actually tried to understand how Islamic Banking should work. I think he is a Sufi, chosen by Allah Kareem to clean the world from interest/ riba/sood. May Allah Kareem help him.... Aameen summa Aameen
Someone please tell this Italian brother of us that we all love him. May Allah bless him in this life and after. 🤲🏻🤍
2 billions Muslims plus ar vry happy to hear ur story.....!
You can clearly see God blessed him with insight and wisdom - he can just see the subtle signs around him. Love his Italian accent :) he looks like a fashion designer or works for Ferrari va va voom. Allah bless him. V interesting interview and glad to see him on the Islamic finance team divising and introducing new Islamic finance products. Like anything in life the start of Islamic banking and finance was a process (cant be done overnight) and like he says had to start from somewhere..
The early 90 s were also the years I was struggling with my career. Now I know The Almighty Allah was busy helping you in Italy. Just kidding 😅
I'm so jealous of you Ruggiero.
May Allah protect you and keep you amongst us happy and healthy for a long long time.
Waiting for the second part for financial advice ❤
Aameen
There needs to be more parts to this. Theres so much more to hear. Especially this brother's spiritual experienceces, which I wish the interviewer let him finish and did not interrupt him half way. I was reveted. I want to hear more. And more of his beginning convert story
Interviewer was born in 1991. He's not mature. His question
"you mean 50 million Muslims" in Italy showed his lack of knowledge.
Same! I also wanted him to talk more about his journey to Islam.
Unsurprising that the guy really UNDERSTANDS that Islamic banking SHOULD NOT be a commercial entity, but a lending institution. But the way it is going now Islamic Finance has soo much thing to do to rectify itself. I hope Malaysian Islamic finance can lead the way but who knows when. Watching from east coast peninsular Malaysia.
Meaning government supported company that is more charity then actual enterprise for investors? Why?
What a dedicated man.
Mashallag brother
I became excited upon listening him mentioned “Malaysia” several times. Alhamdulillah, you truly are one of those chosen by Allah. Thank you for sharing your revert story. Love from Malaysia 🇲🇾
Selamat hari merdeka
May Allah swt invite all Italians to Islam.
Subhanallah. Brother Ruggiero's story is testiment that Allah creates avenues for his plan.
Maa shaa Allah may Allah SWT bless you and be pleased with you both. I did pray in that largest masjid in Europe on Eid day when it was new alhamdulillah.
Love our revert brothers and sisters. Amazing stories. The laughter and giggles from our bros is so contagious. TabarrakkaAllahu ❤❤❤
Bravo Ruggiero
Grazie
Meeting Malaysian lady on the bus... and she gave you an Italian translation of the Qur'an..
سبحان الله.. ماشاء اللّٰه
I LOVE italians man!! 😂😂 BLESS THIS BROTHER'S HEART!!❤❤❤❤
I’m from Saudi Arabia and I think it’s enlightening
Suban'Allah
Whoever Allah wants to guide, no one can misguide
Amazing conversion!!
Allah keep you steadfast upon The Truth
Subhanallah
May the guider guide us all to janat Al naaeem
The lucky one....who got revealed by phenomena that we see every day n just ignore without pondering...
Allah has chosen this brother for a greater mission in islamic banking.
BarakAllahu feekum. MashaaAllah what a fascinating revert story, and so proud that a fellow Malaysian had some part in nudging you into being a Muslim. A huge contribution by both of you to the ummah!
Wow, I don't know a thing about finance but I want to hear more. Probably the best reversion story I've heard on UA-cam for a long time but the way it interweaves with work and money is compelling and also really inspiring. I want my young children to grow up learning about alternatives.
SubhanAllah! How can anyone deny Allah swt and His signs?
The way to make big money is Pray... and wait for your risq to reach you! Love it!
Salam. There was a third advice which was cut. Work hard
Subhanallah you played a main role in the Islamic Banking!
Great to hear Ruggiero Lomonaco talk about his own past, as well as the trajectory of how Islamic finance has progressed. His mention of the Institute of Islamic Banking and Insurance brings back memories of when I used to subscribe to their magazine in the mid to late 90s, and when the Kuwait Finance House started offering Islamic mortgages. I also used to read books by Umar Chopra (alluded to by Ruggiero Lomonaco), and Khurshid Ahmed amongst others who theorised about Islamic finance. Those individuals need to be recognised for what they did. The fact that HSBC took the initiative with Amanah Finance, I would suggest should be seen as Allah's way of using them as a way to bring good, and inspire. Allah is All Wise. I am not so sure I would be too quick to judge Muslim majority countries as being failures or an embarrassment for not being first. In reality, a space is required to be innovative, and to make bold decisions. Perhaps that space did not exist. Excellent point by Ruggerio to come full circle, and challenge the concept of what a loan really means, and of course the issue of ethics.
I hear you, but I believe Ruggiero said that the leaders of Muslim majority countries didn't even think Sharia compliant banking was even a possibility, so they never even bothered to try. This to me, is so revealing as it shows that even if scholars and the layman wanted it, leadership never initiated it. Again, they didn't even try.
On a much deeper level, it shows either a lack of vision for a healthy Islamic economic model to be avaliable for your people or simply that it (Islamic financing) was not even of high priority/importance.
Maybe I'm just too idealistic, but Allah says in the Quran that we (Muslims) are the best of nations. Meaning, we are the ambassadors of good. We set the standard.
I know there is a whole mess of geopolitics that goes on behind the scenes with nations, but we have Allah as our wali (guardian) so let's at least trust Allah and try. It sounds like they didn't even try, and they didn't try because they didn't believe. Maybe this speaks to iman??? I don't know.
But alhumdulilah Allah opened a door, and it is here. May Allah bless those Muslims who hold leadership roles or positions of authority with strong iman and surround them with people and advisors who encourage the good/halal in a balanced and healthy way, Ameen 🤲
@@ilm_seeker what I understood from the interview was that there was an existing Islamic finance institutions but it wasn't just called a 'bank' and wasn't connected to the traditional banks, in which the connection wasn't possible without compromising Islamic values. The connection and globalization of the Islamic financial system was possible because the traditional banks wanted to have a share of the pie i.e getting/dealing muslim money. Just like how I understand Halal food and certification industry boom happened across the world, bcos there were people with money and values that needed to be matched so they can also get a share. So essentially it was a business decision that accommodated the islamic values because there was mutual benefit.
I wouldn't go into saying lack of iman or so.
Mutual benefit, iman can be compromised in the race of getting more of this benefit!
Mashallah. Like the light bulb moments with "ah-ha" sound effect, love it. Seems like a really nice guy. Definitely need another part or 3. Very insightful but barely touched the surface.
When you see and understand the eternal noor you start see him everywhere.
Masha'Allah, I'm just amazed. May Allah reward you jannah brother.
Ameen
This was one of the best convert stories. Beautiful. Alhamdillah, may Allah bless our Italian brother and the interviewer.
Alhamdullilah this was a massive Imaan boost. Beautiful story beatififul soul clearly guided & favoured what a lucky man indeed. Allah SWT guides who Allah SWT wills & Allah SWT is the most high & to Allah SWT belongs all praise.
An amazing and facinating revert story.
May Allah make him a means to purify the islamic banking system and help pave the way for real intrinsic money to enter the islamic banking system Ameen..
What a wise and knowledgeable brother Masha’Allah my dear brother Ruggiero ❤
Masyallah glad a fellow country woman of mine contributed in some ways in your conversion to Deenul Haq brother..Happy to have you in the Ummah ..Much ❤ May Allah SWT keeps you steadfast in the Deen and Jannah will be your final abode
He met the Muslim lady and she’s from Malaysia! I’m impressed!
Allah guides whom HE wills. That's what I got out of his story. SubhanAllah.
May Allah guide me and my family too. Ameen.
A very humble Italian brother!!! MashaAllah a blessed person he is!! His story is very cohesive. However, I feel the host is a bit distracted.
I really enjoyed the Italian accent 😍
‘Oh dear’ about riba made me laugh 😂😂 but Alhamdullilah when you give something up for the sake of Allah he gives you so much better
Allah è grandissimo...Allohu akbar kabiro
Assalamualaikum wbt, it enlightened me to learn that you encountered a Malaysian lady and you turned to Malaysia for your internship , and the lady advised you to go London. May Allah bless and protect all of us unite us all under HIS guidance and mercy, ameen
The way he says the word fatwa in his italian accent is so beautiful
When Allah wills....nothing can stop it....❤
Mashallah this is a super brother. Jazakallah love and regards from India 🇮🇳
Amazing story told by a talented story teller in the long italian tradition 👍 over 47 min video shrinked to 5 min for me to tell u how good he is
I cried about his dreams 😢
May Allah guide us, he is a convert and he changed his career immediately when he was told about riba, from haram way to Islamic, when some born Muslims don’t care to work anywhere, they fear losing their haram job forgetting that Allah is Alrazzaq-L-Kareem
Wow.. Pray and wait for your Rizq.. 🤲 Alhamdulillah, SubhanAllah, AllahuAkbar
Welcome to Islam brother
Greetings from libya 👍👍👍
Knowledge is power
Allahumma barik lahu. What an amazing revert story. One thing is ethnic Muslims can observe is how to age gracefully from this Italian. No pot belly in sight.
Oh my brother Rogereio, so happy for you Maasha'Allah
MashaAllah.. Noor upon Noor..! Only Allah SWT can guide us to the highest spiritual station from a lowly dark recess you might be in.. 🤲