Islamic Finance | Muslim Link

Islamic Finance

Halal investing, banking, and financial guidance.

Islamic FinanceJun 21, 2021
Yaqeen Institute for Islamic Research Has Published Two Papers on the Practice of Zakat in Canada
The Yaqeen Institute for Islamic Research has published two papers on the practice of Zakat in Canada:
Islamic FinanceMar 29, 2021
ShariaPortfolio Brings Halal ETFs and Halal Investment Services to Canadians
When he founded ShariaPortfolio in 2003, CEO Naushad Virji received many well-intentioned suggestions to choose a different name. Being in the United States, just a couple of years after 9/11, the wariness about the word "Sharia" was understandable. But Virji had no qualms about it. "Anyone who had…
Islamic FinanceNov 17, 2020
How to Reduce Risk and Generate Income with Halal REITs
One of the biggest challenges in halal investing is mitigating risk. In conventional (non Shariah-compliant investing), investors use bonds or GICs (Guaranteed Income Certificates) to lower their risk and exposure to the stock market. However, since these investments are interest-based, they can't…
Islamic FinanceJun 22, 2020
10 Principles of Successful Halal Investing in Volatile Markets
In this time of global economic uncertainty, being an investor is stressful. If you have a halal portfolio, you may even feel the ups and downs of the stock market even more than conventional investors. This is because a Shariah compliant portfolio would exclude interest-based investments like GICs…
Islamic FinanceAug 28, 2019
Building a Tool To Help Find Halal Stocks: Interview with the CEO of FINISPIA
FINISPIA is a stock screening tool designed for making Islamic investment easier by making it easier to find out which stock is halal and which one is not.
Islamic FinanceDec 21, 2018
Benefits of a Halal Interest-Free Employer Matched RRSP
When Mihami Shash started a new job, one of the benefits she was offered was the opportunity to participate in the company’s matched-RRSP (Registered Retirement Savings Plan) program. The company had set up a number of investment options that the employees could use to save for retirement and as an…
Islamic FinanceAug 15, 2018
Iana Financial Revives the Tradition of the Benevolent Loan
It's not often that God and financial services are mentioned together in one sentence but Iana Financial's mission statement is an exception: "Towards God-centred community financial services, for the common good." Since 2009, the Edmonton, Alberta based organization has provided interest-free…
Islamic FinanceJul 4, 2018
Ijara CDC's Halal Mortgage - How Does It Work?
Ijara Community Development Corporation (Ijara CDC) is a non-profit corporation which structures Shariah compliant transactions for home buyers in the US and Canada. Since it started operating in the US in 2005 and in Canada in 2008, it has helped thousands purchase homes through Shariah compliant…
Islamic FinanceJun 8, 2018
How to Pay Zakat on Financial Investments
Zakat is one of the five pillars of Islam, upon which the religion is built. Usually translated as almsgiving, zakat is a requirement on Muslims (both male and female) of sound mind who possess at least the minimum amount of net worth deemed to classify them as not in need.
Islamic FinanceJun 7, 2018
Beneficent: Empowerment Through Interest-Free Debt Relief
Despite the Islamic prohibition on interest or riba , many, if not most Muslims have credit cards. While it’s possible to use a credit card and never pay interest by paying off the full credit card balance each month, it doesn’t always work out this way. Any number of situations such as…
Islamic FinanceApr 15, 2018
What's wrong with interest?
Of all the things that observant Muslims try to avoid, interest is the most challenging. It seems impossible to get by in today's world without it. How do you finance your education, buy a home, start a business or get out of a jam when you can't borrow money with interest? What does Islam say…
Islamic FinanceFeb 12, 2018
Canadian Guide to Halal Investments
Whether or not you invest in a Registered Retirement Savings Plan (RRSP), with the March 1 RRSP deadline around the corner, February tends to be the month Canadians talk about investments. Investments don’t only help your money grow, they are also a good way to keep your money from losing value.…
Islamic FinanceOct 14, 2017
Wealthsimple Makes Halal Investing Easy and Affordable
For Canadian Muslims who want to invest in the stock market but don't have the confidence to pick halal stock investments on their own, the choices have always been limited. If you're looking to invest more than a few hundred thousand dollars, you can hire a financial advisor knowledgeable in…
Islamic FinanceMay 9, 2017
Investment Options for Your Halal Tax Free Savings Account (TFSA)
One of the best tools for savings and investment we have in Canada is the Tax Free Savings Account (TFSA). You might have received calls or emails from your bank about it or maybe you’re heard about it compared to a Registered Retirement Savings Plan (RRSP).
Islamic FinanceDec 20, 2016
Interest Free Home Ownership – How Does It Work?
One of the biggest challenges Muslims face when it comes to reconciling their faith with their finances is home ownership. With house prices starting in the hundreds of thousands of dollars, how is it possible to buy a house without borrowing money through an interest-based mortgage?
Islamic FinanceJun 28, 2016
How to Find Halal Stock Market Investment Options
While investing can be an intimidating topic for most people, Muslims have the added challenge of ensuring that their investments are shariah (Islamic jurisprudence) compliant.
Islamic FinanceFeb 23, 2015
The Beginner's Guide to Halal RRSP Investments
With the RRSP deadline on March 2nd, many Canadians are wondering and worrying about where to invest their hard-earned money. For Muslim Canadians, the challenge is two-fold, as not only are they looking for investments that are financially sound, they also need to ensure that their investments are…
Islamic FinanceJan 22, 2013
Scholar shortage threatens Islamic financing industry
Malaysia's International Shariah Research Academy for Islamic Finance is working with its Middle Eastern counterpart on guidelines to address the number of boards on which scholars can sit to reduce conflicts of interest.
Islamic FinanceNov 3, 2012
The outlook for Islamic finance in Africa
From Ghana in the west, to Ethiopia in the east, to Mozambique in the south, Africa's economies are growing, and even faster than those in almost any other region of the world. Although severe income disparities persist on the continent, a middle class is emerging. According to Standard Bank, which…
Islamic FinanceAug 22, 2012
Arab diaspora a business opportunity
For immigrants in the Arab diaspora ”“ those who have left Arab countries for the West or other regions ”“ the tension between trying to stay connected to one's homeland and trying to integrate into a new culture is a challenge. But a new generation of savvy young entrepreneurs in the Arab diaspora…
Islamic FinanceAug 18, 2012
Behind the Goldman Sachs sukuk debate
When Goldman Sachs announced last October that it planned to issue an Islamic bond, debate ignited over whether conventional banks in the West should be allowed to engage in Islamic finance. The investment bank said it planned to issue a sukuk worth as much as $2 billion based on murabaha, a…
Islamic FinanceJun 8, 2012
Islamic finance a progenitor of venture capital
When Facebook went public on May 18, for the handful of venture capitalists, Accel Partners, Greylock Partners and Meritech Capital, who have been with the company since its early days, it was a massive financial payoff. With the IPO also came fame and reputation. At a closing price of $38.23,…
Islamic FinanceMay 11, 2012
Muslims on Wall Street: Balancing faith and career
Over the past year, the words “Wall Street” have become prevalent in the news, with coverage ranging from protests to investigative reporting on the lack of ethics and humanity being displayed by large conglomerates, such as financial companies like Goldman Sachs. The Occupy Wall Street movement…
Islamic FinanceMay 8, 2012
Economic insights from Islam's Golden Age
The Muslim world is in a difficult phase. Even though its people comprise more than a fifth of the world's population, and its regions are resource-rich, it produces only around eight per cent of the purchasing power adjusted gross national product of the world. It is plagued by illiteracy,…

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