financial planning from islamic perspective
TRANSCRIPT
Financial Planning
Islamic Banks in UAE
Loans in Dubai
The term Islamic financial planning can be broadly described as an
economic system that follows Shari’ah principles.
Financial operations, services and market transactions that adhere to
Islamic laws and rules come under Islamic wealth management.
It is the ethical way of investing one’s money saved over a period of
time through fair means. It also ensures that the money you invest is
put to good use and gives you a fair share of profit ethically.
While many might think that this kind of financial planning limits
your choice of investment, in reality the options are many and they
are fair.
Long-Term Investment
Savings and Investment go hand
in hand
Benefiting the poor: Zakat or Charity
Simple and Transparent
Financial Products
How to Invest Money in Long-Term?
When you invest money through an Islamic approach you getinto a detailed and unselfish decision making practice. Itexcludes companies and businesses whose financial methodsare dicey. This way a lot of risks are reduced and you land upmaking a slow yet safe investment.
Islamic savings links financial markets to economic activity.
For example, putting money into an Islamic savings account is
also a form of investment. Though a specified return is not
guaranteed, the profit is shared with the account holders
equally by all the Islamic banks in UAE.
Zakat or charity is one of the five
pillars of Islam. It is obligatory for
Muslims to give a part of their yearly
earnings in the form of Zakat to the
poor and needy. Your Islamic wealth
management plan will also cover
this, which means you will not only
invest to achieve certain goals but
your money will be used for a good
cause.
Financial Planning with an
advisor’s guidance will be
beneficial to you and your
finances. He will direct you to
investment options that are
safe and comply with Shariah
laws.
These safe and secure
investments will also help you
pay off any home or car or
personal loans in Dubai that
you might have taken in the
past.
Although Islamic financial products do not seem simple, but once you understand them you will follow them throughout your life.
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