Financial planning is all about knowing where your money is going, and what does it do for you. First, you need to draw a budget. How to draw a simple budget? List down all the places/things/people on which you spend your money. Such as mortgage, rent, education (for yourself, spouse, children, or community welfare), food, … Continue reading Have you ever wondered where is my money gone? Part One
Insurance is all about minimizing the financial consequence of a risk that materializes. Insurance transfer the financial consequence of a loss one suffers to an Insurance company for a relatively small amount of money known as premiums which are paid to the Insurance company. The Insurance company maintains a fund from all the people who … Continue reading Why do we need Insurance?
Dealing in equity shares can be acceptable in Shariah subject to the following conditions: The principal business activity of the company does not violate Shariah principles and Islamic Moral values. Therefore, it is not permissible to acquire the shares of the companies providing financial services on Riba (interest, usury), like conventional banks, insurance companies, or … Continue reading Islamic Sharia Compliant Investment Funds – Blog Series No. 2 Islamic Sharia Compliant Investment in Shares and Equity Funds
The term “Islamic Sharia Compliant Investment Fund” in this blogmeans a joint pool of collective investments funds, wherein the investors contributes money for the purpose of its investment to earn halal profits in strict conformity with the precepts of Islamic Shariah and Fiqh (Jurisprudence), and managed by a professional fund/money manager. The subscribers of the … Continue reading Islamic Sharia Compliant Investment Funds – Blog Series No. 1 Introduction to Islamic Sharia Compliant Investment Funds
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