Sawitri Mardyani holds a PhD in Biomedical Engineering from the University of Toronto and has a keen interest in islamic Finance.
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 Shariah compliant investments. If you're investing less than that, you can invest in a halal mutual fund, which charges management fees of 2.5% or more. That's it. So when Wealthsimple announced their Canadian Halal Investing portfolio in August of this year, it was reason to celebrate.
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).
On Saturday, March 18th, Ottawa will host a unique music show at the Centrepointe Studio Theatre. While the Ottawa-based group, Expressions of Muslim Women (EMW) has been hosting its popular annual variety show for women-only audiences every fall since 2008, this will be the first time they are putting on a concert for an audience of both men and women. With veteran performers from EMW's previous shows, "Songs of Muslim Women" promises to showcase original and traditional songs from various different musical styles sharing a spiritual thread.
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?
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.