Ep 5 Islamic Mutual Fund Redefining Financial Landscape
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Channel: Mansoor Danish
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AI Generated Summary ©
The Islamic attempt to change the financial landscape by creating a "monoline mutual fund" that offers investors equity based returns and returns in return of returns. The fund manager will eliminate companies in an effort to comply with Sharia regulations, and the operator will be careful in selecting the companies. The fund is Sharia compliant and has multiple investment opportunities available in the market.AI Generated Transcript ©
Salam Alaikum Warahmatullahi Wabarakatuh Welcome back to the Islamic finance series where we are discussing about the innovative Islamic financial products, which are redefining and reshaping the financial landscape. Today we talk about the Islamic mutual funds. The Islamic mutual funds not only offers you equity based returns, but it also offers you returns which takes into account ethical and religious considerations. So like its conventional counterpart, the conventional mutual fund in an
Islamic mutual fund, you have investors pooling in their resources together, and giving it to a fund manager who in turn is going to invest this money into a diversified pool of assets. Your Money doesn't get invested into just one company or two companies, but a list of companies spread across different sectors. But where is the difference? Where is the Sharia compliance, the difference lies in the philosophy of selecting the companies in an Islamic mutual fund the investment manager or the
fund manager is going to be extremely careful in selecting his companies, he is going to eliminate all those companies which deals in interest or rubber companies which deals in speculative activities, companies which is engaging in gambling or pork or alcohol, all of these companies are completely ruled out. So it is this philosophy of selecting companies, which meets the Sharia guidelines is what sets apart Islamic mutual fund from convention convention mutual fund. Otherwise,
it's almost the same in terms of the way the money is collected, the way the returns are given there is a nav or a net asset value, this nav can keep going up or down depending on the performance of the companies in which the money has been invested. What's important over here is that you are following the pls system of the profit and loss sharing system. You are also being careful in terms of the company's where you are investing your money. So it is completely Sharia compliant in nature.
Some of the examples of mutual funds which are already active in the mutual fund space, specially in the Middle East, you have the HSBC Islamic Global Equity Index Fund, you have the Franklin Sharia technology fund, you have the Templeton Sharia Global Equity Fund, so there are multiple of investment opportunities available in the Islamic mutual fund space. You can check out for more details by contacting your local bank. Thank you so much for watching this video. Please remember to
like this video, share this video and subscribe to our channel. Thank you so much for watching this video. Salaam Alaikum Warahmatullahi Wabarakatuh