It was a series of doubts that brought Sameer Azam to start the investment firm Absolute Wealth Management. After a few years of working in the financial sector, he started to question what he was really doing. He was offering investment solutions, helping people grow their wealth—but how about the details? What if some companies are selling alcohol, dealing in interest, damaging the environment, or harming the health of their workers? If he encourages clients to buy shares in companies that are doing impermissible or ethically questionable things, would their and his own income be halal?
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 religiously sound, or Shari’ah compliant or halal (Islamically permissible).