In this keynote at the Muslim Bitcoin Summit London 2026, Harris Irfan reflects on the failures of the modern Islamic finance industry and advocates for a shift toward sound money principles, specifically using Bitcoin.

Irfan argues that finance is not neutral; it shapes society through the way money is created and allocated. He highlights that most modern banking relies on riba debt creation, which he identifies as a systemic moral problem.

Despite his role in reinventing Islamic finance at Deutsche Bank, Irfan concludes that the islamic banking industry has often merely changed the legal contracts to replicate conventional debt based models, failing to challenge the status quo or provide a truly alternative moral economy.

He suggests that Bitcoin resonates with Islamic economic thought due to its scarcity, decentralization, and resistance to manipulation. He positions sound money as a technology for patience (sabr), contrasting it with the short termism and leverage encouraged by the current fiat system.

Irfan emphasizes that sound money is only half the solution. He advocates for finance to return to genuine partnership and risk sharing, where investors share the actual risks and rewards of an enterprise rather than protecting themselves through debt claims.

He also expresses skepticism toward riba leveraged plays on Bitcoin, viewing them as “fiat degeneracy” rather than the pure, sound money concept Bitcoin represents.