Janah Engineering Limited Logo
Address Icon

Address:

22 Middlebrook Drive Katikati

Phone Icon

Call Us Today!
For More Information.

+65 96520134

Phone Icon

Call Us Today!
For More Information.

+65 96520134

How To Keep My Focus and Motivation When Promoting Shariah Compliant Financial Instruments in Singapore…

How To Keep My Focus and Motivation When Promoting Shariah Compliant Financial Instruments in Singapore…

Some of you might have known me as the financial consultant that help Muslim families, plan their finance in a shariah compliant way in Singapore . You might have seen me in the papers, on national TV, dispensing financial advice specifically for Muslims in Singapore.

interview

(Snapshot of my recent interview at a show, “Demi Cinta”  in Suria. Picture from Toggle.sg)

…………………………………………………………………………………………………………………………………….
…………………………………….

One of the most common questions that I always get, is how do I get the motivation.
The strength.
The energy to push forward, in my journey to promote Islamic Finance in Singapore.

I have to admit, that it seems an arduous task ahead.

As an entrepreneur running my own financial practice, sometimes, my business is up.
AND sometimes, my business is down.

When I feel down, I read on the translation of the Quran and Seerah (biograghy) of all the messengers of God, from Prophet Adam to Prophet Muhammad (May Peace and Blessings Be Upon Them All).

Here are some learning nuggets that I learnt, that motivate and inspire me to continue to work hard to promote Islamic Finance in Singapore.

…………………………………………………………………………………………
………………………………..

1) Follow the power of focus of Prophet Noah (Peace Be Upon Him)

When I am feeling down, I remembered reading about the story of Prophet Noah (Peace Be Upon Him).

Allah S.W.T commanded him to build a ship.

“And construct the ship under Our Eyes and with Our Inspiration and address Me not on behalf of those who did wrong; they are surely to be drowned.” (Quran 11:37)

………………………………………………………………………………………………
…………………………………………………..

Prophet Noah (Peace Be Upon Him) chose a place outside the city and far away from the sea to build his ark.

Some mocked and laughed at him.
Making comments about the ship’s location, far from any water source
.

noah

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

………………………..
..

They had no comprehension of the power and magnificence of God.

SO they could not understand why Prophet Noah (Peace Upon Him) would build a ship, on the top of a hill, far away from the ocean.

They called him crazy and laughed out loud.

The ship began to take shape and when it was finished,
Prophet Noah (Peace Be Upon Him) patiently waited for the command from God.
…………………………………………………………………………………………
…………………………………

When others said, many Muslims in Singapore don’t mind taking riba (interest)… The market is not big enough… When others questioned me on why I need to talk about Islamic finance, I remember the story of Prophet Noah (Peace be Upon Him)

I ignore these voices. I stay focus.

If I can help even 1 client plan their finance in a shariah compliant way, I have done my job.

If I can show 1 client, how they can reduce their riba/interest payable by even 1%, I have done my job.

Even if I meet with rejections upon rejections, after proposing shariah compliant initiatives, I have done my job as a Muslim financial consultant in Singapore.

 

 

2) The Importance Of Planning

Prophet Muhammad (Peace be Upon Him) planned very well when doing his Hijrah from Mecca to Madinah.

The Hijrah of Prophet Muhammad (Peace Be Upon Him) is one of the most important episode in the history of Islam.

Allah S.W.T could have just instructed the Angels to carry  Prophet Muhammad (Peace Be Upon Him) from Mecca to Madinah, without effort.

However, we all know that the Hijrah does not happen that way.

Our beloved Prophet Muhammad (Peace Be Upon Him) had strategies and plans, in place. Some of them are….
– Asking Sayyidina Ali (May God Be Pleased With Him) to replace him at his sleeping place
– Went out of his house, when the sun is scorching hot, something that those who were travellers wont do at that point of time
– Choosing Sayyidina Abu Bakar Assidiq as his companion  for hijrah to Madinah
– Choosing alternative route to Madinah which is further and not the route commonly used by others
– Asma’ bt Abu Bakar and Abdullah Bin Abu Bakar to send information and food supplies while he is hiding at at Thur cave
– Amir bin Fuhairah, the individual to remove the footprints of Prophet Muhammad (Peace Be Upon Him)  and Sayyidina Abu Bakar
(Source: “Panduan Cashflow, Apa Yang Kamu Tuai Simpanlah Bersama Tangkainya” book, by Suzardi Maulan (Pakdi))
………………………………………………………………………………………..
……………………………………………………………………………………

My take is that if our beloved Prophet Muhammad (Peace Be Upon Him) planned very well when he is doing his hijrah, we should also have a plan, in doing anything in our life.

Everyday, I think of strategies.
Strategies on how, to get more people to plan their finance in a shariah compliant way in Singapore.

How to get more people plan their finance the shariah compliant way in Singapore?
Facebook marketing.
Blogging.
Words of Referral.
Making Educational Videos etc2…

I work hard to introduce these systems in place.

Alhamdulillah…. Till date, I have over 600 clients who  trust their finance with me, not only from Singapore, but also from Malaysia, Indonesia, Bangladesh, India and many other countries…  🙂

Remember, my friends.

Anything you do, plan and prepare in advance.

If you don’t have a plan, you will go haywire. Create a plan and stick through your plan. Follow the footsteps of our beloved Prophet Muhammad (Peace Be Upon Him).
……………………………………………..
….
.

 

3) Motivation to get out of debts with interest

I adviced my clients on strategies to reduce riba, yet I have to admit that I am still servicing my housing loan. In Singapore, there is no murabahah financing, so its darurah, for us to take loan with interest to get our house.

We need a roof over our heads.

Everyday, I make doa/prayers/supplication  to Allah S.W.T. to grant me the strength, the rezeki to accumulate as much cash as possible so that I don’t have to take loans with interest.

My motivation to stay away and get out of debts also propel me to me to work hard everyday, because interest/usury is haram. In addition to that, I need to walk my talk as an ambassador to promote Islamic Finance in Singapore.

I am also a firm believer of the ‘Man jadda wajada’ principle which means whoever puts in the effort, God willing, they will get what they work for.

Make doa. Put in a lot of effort and focus on your work. Tawakkal….
Insya’Allah…You will get what you work for. 

 

 

4) Motivation to help my community grow strength by strength

Everytime, I read the news, I see Islam being potrayed in a negative light. What I learn in my part time madrasah (religious school) and what I see in the newspaper is totally different.

Of course, to explain the beauty of Islam is the jobs of our Islamic scholars. We seek their leadership to guide us, on how to live our life, in accordance to the Quran and Sunnah of our beloved Prophet Muhammad S.A.W.

I am glad that Asatizah Recognition Scheme (ARS) is now made compulsory, to ensure that our religious teachers and scholars are reliable guides for our community.

We need their expertise. We need their guidance. Reading and interpreting the Quran (God’s words)  is not like reading a story book. We need… We depend on our Islamic scholars to interpet the verses of Quran and Hadith and apply them in Singapore’s context.

Nevertheless, I feel everyone has a role to play. Even in my position as a financial consultant in Singapore, I have a role to play. Empowering our Muslim community with financial knowledge is crucial. My job is real.

I advice my clients and their children, that whatever we do in life, we give our level best. Aim to be the best.
Prophet Muhammad (Peace Be Upon Him)  says,
“The best of people are those that bring most benefit to the rest of mankind.” (Daraqutni, Hasan)

I hope, in the future, some of the children, I plan for becomes a scientist, becomes a lawyer, becomes a school teacher
or even become an Olympic Champion!

I hope, some days, I can see, my clients’ children names on the headlines of the newspapers, bringing glory to our community by being the best in their specialisation, in their chosen field.
………………………………………………………….
………………………………………………….
………………..
With the following reasons above, I am more determined than ever to help with the development of Islamic Finance in Singapore.

That is why, I created Takaful.sg.

logopng01withtag

Takaful.sg serves as a platform for me to educate.
Empower.
AND reach out to more Singaporeans who are interested to know more on the practicality and relevance of Islamic finance, in Singapore’s context.
………………………………………………………………
…………………………………..

In Takaful.sg, you can sign up for “Your Financial M.A.P” session (Worth $500) for FREE.

financial-m-a-p

“Your Financial M.A.P. Model” is A Standard Step By Step Guide.
To grow your money.
AND wipe off all your loans with riba,
using Shariah Compliant Financial Strategies.

……………………………………………………….
……………………………….

You will also learn on how you can calculate  your net worth in less than 10 mins, which allows you to fully understand your financial situation and create a master plan to get started on your journey to achieve the financial freedom you desire.

You will discover bulletproof strategies on how you can increase your savings by 20%, even if you have not saved a single dollar before (It’s like having money growing from your pocket out of nowhere)

I will share with you 8 financial ratios that acts as a financial compass, giving you the direction to the oasis of financial promise land.

I will also share with you a Quick way to save up money for emergencies. This will give you a peace of mind, rather than panicking and trying to scramble up money from nowhere. You know, you have a safety net to protect you 100%.

Go to Takaful.sg now and sign up for your FREE session today! Insya’Allah… 🙂

5 Takeaways I get From Ip Man 3 movie

5 Takeaways I get From Ip Man 3 movie

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.

ipman3

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.

family
(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.

trailer
(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.”
………………………………………………..
……….

padi

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…

How To Transform Your Frustration Into Strength

How To Transform Your Frustration Into Strength

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.

muslim roadshow

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.

Helmi icerberg

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…

Is there really potential for Islamic Finance to grow in Singapore? (Part 2)

Is there really potential for Islamic Finance to grow in Singapore? (Part 2)

Continuation from https://helmihakim.com/investment/is-there-really-potential-for-islamic-finance-to-grow-in-singapore-part-1/

sultan_mosque
………………………………………………………………………………………………………………………….
………………………………………………………………………………………………………………………….

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.

  1. 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.demand_new
    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.
    .
    profit
    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.
  2. .tax.
    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…

Financial Consultant, Helmi Hakim’s Birthday Gift…

Financial Consultant, Helmi Hakim’s Birthday Gift…

As you know, today is my birthday. 🙂

On this special occasion, I will like to give a present for my blog readers of HelmiHakim.com.

I will like to offer FREE access to my special email service, OtakJutawan.com where you get motivational quotes on finance every week for the next 3 years. Click below for more details. Insya’Allah.

bday special

Click the link below now to claim your FREE gift! 🙂

http://www.helmihakim.com/otakjutawan/