Rising household incomes and life expectancy have made financial planning a global imperative. In economics, it turns out that a financial planning theory adopts an Islamic way of life.

Greget Kalla Buana, an Islamic Finance Expert, when presenting at a guest lecture session at the SBM ITB on Thursday, 24/11/2022, mentioned that many Islamic financial plans are taken from the Qur’an and hadith. Islamic finance seems to have universal values ​​that apply not only to Muslims.

In general, said Buana, Islamic financial planning is about managing human wealth as individuals to achieve success in the world and the hereafter through proper management of financial resources. Buana gave an example of how Islamic figures, such as Prophet Muhammad SAW, Umar Bin Khatab, Abdurrahman bin Auf, Khadijah bint Khuwalid, Syifa bint Abdullah and Zainab bint Mauwiyah did not only use wealth for personal consumption but also religious life. They also build charity projects, give people access to clean water, and donate lands.

According to Buana, individual financial management is influenced by four factors: values, events, lifestyle, and needs. Whether or not someone is wise in managing personal finances is related to self-control that encourages someone to have savings for the future.

Finally, Buana advises young people to start investing, saving, and protecting to improve a good and healthy relationship with money.

Written by Student Reporter (Sihabudin NurFajari, MBA CCE 2021)