Last Updated on January 28, 2023 by Tabraiz
When it comes to financial planning and investing, there are many different options available. Whether you’re working with a traditional financial planner or considering a unique approach, it’s important to find an option that aligns with your specific goals and needs.
For Muslim investors who want to adhere to Shariah law, a Professional shariah financial planner may be the best option. Keep reading to learn more about what Shariah financial planning is and how it can benefit you.
What Is Shariah Financial Planning?
Shariah financial planning is a type of investing that adheres to Islamic law. This means avoiding investments in companies that produce products or services that are not permissible under Shariah law. Investments are also screened for excessive debt levels, as well as interest payments (known as riba).
Why Choose Shariah Financial Planning?
There are a few key reasons why you might choose to work with a Shariah financial planner.
First and foremost, it allows you to invest in a way that is consistent with your religious beliefs.
Secondly, Shariah-compliant investing tends to be less risky than other types of investing because of the strict guidelines around which companies can be invested in.
This can provide peace of mind knowing that your investments are less likely to experience sudden drops in value.
How to Find a Shariah Financial Planner
You’ve worked hard to get to where you are. You’ve made sacrifices and put in the long hours to achieve success. Now, it’s time to start thinking about your future and ensuring that your hard-earned money is working for you. But where do you begin?
There are a lot of financial planners out there, but not all of them are created equal. If you’re looking for a financial planner who adheres to Shariah principles, then you’ll need to do your due diligence to find one that meets your needs. Here are a few guidelines to help you choose a Shariah financial planner.
- Research Potential Planners Thoroughly
When it comes to entrusting someone with your hard-earned money, you can never be too careful. Be sure to research any potential planner before making a decision. Check out their website and read their biographies. See if they have any articles or books published. And most importantly, make sure they are registered with the Islamic Financial Services Board.
- Get Referrals from Trusted Sources
Another great way to find a qualified Shariah financial planner is by getting referrals from people you trust. Talk to family and friends who have experience working with financial planners. They can give you first-hand accounts of their experiences and help you narrow down your choices.
- Choose a Planner that Fits Your Needs
Not all financial planners are created equal. Some may be more suitable for people with a higher net worth, while others may specialize in retirement planning. It’s important that you choose a planner whose expertise matches your needs. For example, if you’re looking for help with retirement planning, be sure to choose a planner who specializes in retirement planning for Muslims.
- Make sure You’re Comfortable with the Planner.
You should feel comfortable discussing sensitive topics like finances with your planner. After all, they will be privy to intimate details about your personal finances. Be sure to choose someone who puts you at ease and makes you feel comfortable sharing such information.
When it comes to your finances, you want to make sure that you are working with someone who has your best interests at heart. With a Shariah financial planner, you can rest assured knowing that your investments are being made in accordance with the principles of Islam. If you are ready to take the next step in your financial journey, contact us today to schedule a consultation.