You have attended my signature program, the “Unlock Your Money” session, where I share practical strategies on managing your cashflow, allowing you to have more money in your pocket every month.
Right now, I would love your help. I am developing an educational platform to share more on Islamic Finance in Singapore, in a form of video format. I need your feedback and suggestions. View the video below to hear me out on my plans that will benefit anyone who is interested to know more about Islamic Finance.
After that, I appreciate it if you can drop a comment below on the topics you would like to personally benefit from my sharing sessions in the future. Insya’Allah…. 🙂
My wife and I went to a baking class last week, to learn how to bake macarons.
Some of my colleagues, were telling me,
“Aiyah… Why go for class? Just go to youtube and see how to make it!”
On that very day, when my instructor demonstrated to us in class, the procedures, step by step, I was telling myself… “Not bad… Mix here. Mix there, and its done! It looks pretty easy! :)”
………………………………………………………..
…………………………….
However, when it comes to our turn to do it on our own, I began to face difficulties. I started beating the egg white using the handheld mixer, while gradually adding the sugar, bit by bit .
I didn’t know when to stop beating the egg whites. When to add the colouring? When to add the almond mixture? Fortunately, the trainers were there to guide and show me how to test the texture of our batter, step by step, before adding the rest of the ingredients, one by one.
Even to stir the batter using a spatula has a technique to it! 🙂
From a stressful situation, it became a joyful experience for a novice baker like me, who has never operated a mixer before in my life. The experts were there to guide me and my wife. 🙂
………………………………………………………………………….
………………………….
………
and finally the final product! 😛
…………
…..
…..
….
…
…
..
While learning to bake macarons, I listened to the experiences of my classmates on how they tried to learn to bake macarons on their own and failed.
The trainers shared useful tips with us. Example, the egg whites have to be refrigerated for 3 days, the particular type of food colourings to use and many other tips that I won’t be able to discover unless I learn it from a professional baker.
……………………………..
…………………..
……….
When I returned home and consolidated my thoughts, I can relate this to my profession as a financial planner. Many times, our prospects out there thought they can manage their money and their portfolio on their own. They think they don’t need help.
When they face financial problems, they try to troubleshoot on their own. When they want to buy insurance, they try to do it on their own, without seeking advice from us, the financial professionals.
At last, what happens? Many were faced with helpless situations when in need. They don’t understand what they bought. Things that insurance doesn’t allow them to claim, they try to claim. Things that insurance allows them to claim, they don’t claim.
Worse – some lost their money in get-rich-quick schemes that promise them attractive returns in a very short period of time.
…………………………………………………
……………………………..
…………..
After advising thousands of Singaporeans out there on personal finance since year 2007, I genuinely feel that everyone should seek professional help when it comes to managing their own money.
Qualified financial advisors like us, harness our skillset to troubleshoot, save and bail individuals from disastrous financial situations. I personally have created proven systems on how anyone can instantly have more money inside their pockets every month, how you can accumulate money fast and how you can grow your money in a shariah compliant way in Singapore..
……………………………………..
……………………..
……………….
My friends… If you want to make superb macarons, you look for a professional baker. If you want to learn how to speak Arabic, you look for an Arabic Language teacher. If you want to learn more about Islamic Finance, you look for a financial planner who is trained in Islamic Finance.
Isn’t that simple to understand? 🙂
……………………………………………………
…………………………..
……………
And oh yes, talking about macarons – next week, I will be heading to Paris with some of my colleagues for our incentive trip award. I will sample the authentic French macarons there and test them out! Yes. Time to sample authentic macarons made by professionals!
Enjoy your day! 🙂
Alhamdulillah, my name is featured in Straits Times for being one of the top financial consultants in Income and belonging to the prestigious Income Summit Club. 🙂
I would like to thank my clients who have supported me in my journey as a financial consultant to promote cooperative insurance and shariah compliant fund in Singapore. Thank you for trusting me. Thank you for believing in me! 🙂
p.s. By the way, if you wish to discover a simple & halal way to create a positive monthly cashflow and calculate your net worth for FREE, then please click here…
I love the first 2 series of Ip Man movies, and when IpMan 3 came out, I was exhilarated. I was excited too because the movie features additional characters like Mike Tyson, the legendary, American former professional boxer.
I think, this movie is great because, in addition to the fighting scenes which display good martial arts techniques which are imminent in its previous movies, they now also give extra emphasis on good, positive values that we can emulate as a fellow human being.
Here are the 5 valuable takeaways that I get and I will try my best to apply in my life. 🙂
…………………………………………………………………………
…………………………………………………………………………
..
1. Lead by example
Ip Man is a great leader who leads by example.
He is a selfless person and helps a lot of people unconditionally. He protected and defended the school his son was enrolled, when it was forced for takeover by thugs, who collude with the top police.
With gust and energy, he reminded the police officer that, all that we do is not for today, but for tomorrow. Whatever we do in life, we become examples to our children.
Our children will follow our footsteps. Our children see what we do and they follow us. We need to lead by example.
……….
.
I am also reminded by this. I advocate my clients to have proper financial planning.
6 months emergency funds, savings ratio of at least 20% per month, debt service ratio of not more than 30% per month, save your money first before spending. Identify your Needs and Wants.
Selling an ice lemon tea drink at $2, when the cost price is only $0.20 is Halal. Lending your friend $2000 and expecting him to repay you back $2000.20 is Haram because there is Riba. Avoid Riba. Grow your money the shariah compliant way.
I do not want to be label as “cakap tak serupa bikin” which literally means, “say only but never do“. I ensure that I walk my talk and do things that I preach. I lead by example.
……………………………………………………………………………………………….
………………………………………………………………………………………………
…….. 2. Although you want to perfect your craft, you must spend quality time with your family.
When Ip Man got to know that his wife got cancer and only has 6 months time to live, he dropped everything and had a heart to heart talk with his wife.
He mentioned candidly that his only regret in life is that, not being better to his wife, because he was always occupied with martial arts, which is his number 1 passion.
…….
.
In my enthusiasm, to perfect my craft, my financial planning skills, I used to get carried away.
I packed myself with appointments and more appointments. To me, my work is play. I am not ashamed to say that I enjoy my work as a financial consultant. I love creating new ideas, sharing financial planning concepts with my clients. Sometimes, my appointments end late, past midnight.
Now, I make it a point to spend quality time with my wife, travelling for holidays and enjoy each other’s company. I make it a point to visit my parents and in laws, at least once a week, despite my busy schedule.
(A picture of myself and my beautiful family)
I have to always remember that family comes first.
…………………………………………………………..
………………………………………………………….
………………………………………………………….
3. Have a spouse that supports you in your craft or business
In the movie, Ip Man was challenged by a martial art artist who lay claim that Ip Man’s Win Chun is not authentic.
(Snapshot taken from the movie trailer)
Ip Man ignored the challenge and chose to spend time with his wife. He cooked pigeon porridge for his wife. He took a family portrait with his wife. He learnt how to dance, not something that he loves, but did it anyway because of his undying love for his wife.
Subsequently, he had a heart to heart talk with his his wife and his wife encouraged him to train up and continue the fight with his challenger. Despite her health predicament, she encourages him because she understands what he does and supports him.
Finally when his challenger acknowledged his defeat, Ip Man replied, “There is nothing more important than the love by your side.” In his victory, Ip Man dished out his most precious advice and that is very profound to me.
…………………………………………………………
.
I am thankful and I am blessed to have my wife who supports my mission to uplift the financial standards of my community in Singapore. She may not have the same level of inclination and passion for finance as me, but she supports and encourages what I do.
She stands behind me and supports me in what I do. That is all that matters. 🙂
………………………………………………………..
……………………………………………………….
……..
. 4. Humility is everything
Humility is a trait that Ip Man carries well. He walks away from taunts and is even willing to kneel and kowtow to his enemies so as to keep his family and friends safe from harm.
He has that kind of quiet confidence that speaks, “I know I’m good and I don’t need to trumpet it to the world. I don’t need reporters to endorse me. I am for who I am.”
………………………………………………..
……….
There is a Malay proverb that says, Resmi Padi, Semakin Berisi, Semakin Merunduk, which literally means, be like the rice stalk, it bends lower as it is laden with ripening grains. As you gain more power, you become more humble.
There are many successful financial consultants in my industry.
One of my mentors is successful senior financial consultant, Mr Shahul Hamed. He has been in the industry for more than 30 years, yet always humble and always willing to help others when in need. He is charismatic and a man with few words. I envision myself to be like him as I grew myself professionally. Just advance and move forward to help as many people as I possibily can and STAY HUMBLE. Insya’Allah…
…….
….
. 5. Mastery of any field is for the greater good
There is a lot of martial artists during Ip Man’s time. However, many hold different opinions on martial art. Some view that winning is everything, and practicing martial arts is for defeating others. Some exploited their skills for money.
Ip Man thinks differently. He thinks that every battle should be fought for the greater good.
……………………………………
…………………………………..
……………………
I believe it doesn’t matter whichever industry we are in, we do it for the greater good.
As a Muslim, I am reminded by what Prophet Muhammad (Peace Be Upon Him) advised us more than 1400 years ago, “The best of people are those that bring most benefit to the rest of mankind.” [Daraqutni, Hasan]
Do whatever I can within my power as a financial consultant to share my financial planning knowledge with Singaporeans. Continue to upgrade myself, learn new things, create new financial planning concepts, simplify difficult technical jargons, all in all, for the benefit of my clients. Insya’Allah…
I do hope you enjoy Ip Man 3 movie and learn something from it too. Do share this blog post around. Thank you! 🙂
p.s. By the way, if you wish to discover a simple & halal way to create a positive monthly cashflow and calculate your net worth for FREE, then please click here…
By now, you might have known that I have set up and lead a group of Muslim financial consultants to promote cooperative insurance and shariah compliant funds in Singapore.
Many people thought that being a financial consultant is a very easy and glamorous job. Very flexible timing. You can work as and when you want. You are paid generous commissions. You get to travel all over the world for free.
It is further than the truth. What people don’t see is the hardwork. The rejections. The disappointment. The sacrifice. The failure, and persistency and willingness to get up back and move forward.
You fall, you rise up back.
You fall, you stand up again.
You fall, you bring yourself up to 2 feet and move forward again.
Step by step.
Just continue moving forward. Every single step counts. Move forward and build up your momentum.
One POWERFUL technique that I always share with my mentees, on how to magically transform your frustration, loss or failure into strength is to do a self reflection exercise by asking yourself 3 pertinent questions.
…………………………………………………………
…………………………………………………………
Ask the following questions to transform frustrations, loss or failure into strength:
1) What must I learn from this incident so that I can be better tomorrow?
2) What must I learn so that when faced with the same situation, I will be better off?
3) Who can help to me to face the same problem so that it will become easy and easier to overcome?
For winners, frustrations, loss and failure gives inspiration for us to continuously learn and take action till we become better and stronger. We always work to change every challenge that we faced into an opportunity.
Only the naive would hope that everything goes along with his desires. Always prepare for the worst situation and strive consistently and persistently to achieve the best results.
I hope this post inspires you. Remember, when you faced with any kind of frustrations, loss or failure, ask these questions to transform them into strength: 1) What must I learn from this incident so that I can be better tomorrow?
2) What must I learn so that when faced with the same situation, I will be better off?
3) Who can help to me to face the same problem so that it will become easy and easier to overcome?
Share this blog post with your love ones and see you soon! Insya’Allah. 🙂
p.s. By the way, if you wish to discover a simple & halal way to create a positive monthly cashflow and calculate your net worth for FREE, then please click here…
In my opinion, the secret recipe to the success in the development in Islamic finance in Singapore is to build our foundations and platform right locally first and then, scale it, expand globally.
I have listed the steps.
Build up our strong foundation of Islamic Finance for our local population first and then expand globally.
.
The first crucial step is to introduce murabahah financing for Singaporeans who want to purchase our properties the shariah compliant way, as an alternative to conventional mortgage loans.
.
No individual or entities in Singapore will give Qard Hassan, also known as interest free loan to our local population.
.
Even if there are willing, charitable individuals/organisations, they are too few among us. The most pragmatic way is to set up the strong foundation, where transactions with mutual benefits can be established, yet it is shariah compliant.
.
The success of any business endeavour lies on MARKET DEMAND.
Everyone needs a roof on our head.
.
Murabahah financing is a good start. Under Murabahah financing, financial institution earns profit from a mark up of the cost price payable over number of financing years, while the buyers pay instalment yet do away with interest based transactions. Mutual Benefit! 🙂
.
There are other shariah compliant financial instruments, that financial institutions can look, to introduce or expand in the market. Some examples:
Restricted and non restricted mudarabah account
Shariah Compliant Fund (already available in NTUC Income Cooperative)
Musharakah (Partnership between financial institutions and business owners on profit/loss sharing basis)
………………………………………………………………………………………
………………………………………………………………………………………
. 2. Enhance Competitiveness Of Shariah Compliant Products in Singapore
. Example again in murabahah financing.
.
The effective profit rate earn by financial institution needs to be comparable with the effective interest rate by conventional financing facilities.
.
If we can create and maintain competitive shariah compliant instruments on a small scale on a profitable note, to make it bigger, and bring it to a global scale will be easier.
.
In my interaction with Non Muslims from other countries, they like shariah compliant products in their country due to salient advantages.
.
Example, competitive rates as compared to conventional ones and other benefits like, having one month “instalment holiday” at the end of the year, where they don’t have to pay for mortgage instalment for that particular month.
.
. 3.Tax Exemption to smoothen certain process pertinent to Islamic Finance
. Again, example, in a transaction like Murabahah financing for properties.
.
The seller has to transfer the ownership to the financial institution and the financial institution has to transfer again to the buyer.
.
The transfer of properties or risk of ownership specifically is essential in Murabahah and cant be compromise.
.. Remove in between tax from such transactions, as it will add cost and reduce competitiveness in such financing activities.
. 4. Work with financial consultants and property agents
. Financial consultants and property agents are the frontline who deals with customers on financial transactions, every single day.
.
Work with us.
.
When sharah compliant instruments are introduced, we already have the database of clients, who are interested in shariah compliant products.
.
Though our jobscope may seems more of an advisory role, we have been trained to sell. In order for the take up rate for shariah compliant products to skyrocket, it has to be sold. Incentivise the whole process. It is wishful thinking, to assume that shariah compliant products will move on its own, when introduce to the market.
.
Education is also a key to the success of the promotion of a particular financial instrument. Engage us the practitioners by introducing educational grants and training schemes, that we can use to upgrade ourselves, specifically on Islamic Finance.
.
. 5. Ability to sell cross borders transactions
.
From my understanding, financial consultants in Singapore can only sell to locals.
.
If we want to sell to foreigners, they must have a FIN number.
.
Usually, they are PRs, Employment Pass, S Pass or Work Permit holders.
. Singapore has its advantages of its strong Singapore Dollar. Foreigners will love to diversify their investments, and if Singapore allows for such cross border transactions with stringent underwriting, that will help. Imagine money flows from neighbouring countries with sizeable Muslim population….
.
Of course, this is just my thoughts as a practitioner in Singapore.
………………………………………………………………………………………………………………………
……………………………………………………………………………………………………………………..
After all the above has been done, only then Singapore is poised to attract the petro-dollars from the Middle East.
.
Singapore, with its solid, working blueprint specifically on development of shariah compliant products, coupled with its inherent strengths is just a step away to champion Islamic Finance worldwide.
. What is needed then is just to identify what works on a small scale domestically, and expand it further, worldwide.
p.s. By the way, if you wish to discover a simple & halal way to create a positive monthly cashflow and calculate your net worth for FREE, then please click here…
A certified financial consultant, Helmi Hakim has won praise for his patience, perseverance and practicality when solving his clients’ financial concerns. For more information on how you can manage your finances better, contact Helmi Hakim at 96520134.
