by Helmi Hakim | Sep 17, 2017 | Investment
A lot of people have asked me.
“Helmi Hakim. I want to buy a house in Singapore. I dont have money to pay full in cash thus I have to take a loan.
Is there shariah compliant home financing facility in Singapore?”
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I have made it clear that there is NO shariah compliant home financing facility in Singapore at this point of time.
That’s why I created Takaful.sg with my unique Your Financial M.A.P. Model™ to share simple yet powerful strategies on how you can clear your Riba Based loans in Singapore.
You can schedule a FREE consultation with me to find out more. Click here.
(Your Financial M.A.P. session)
In this blog post, I am going to share with you how shariah compliant home financing facilities actually work.
This is because a lot of people have been asking me- thus I devote a bit of my time to create this blog post. 🙂
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In this world, there are 3 types of shariah compliant home financing facilities.
- Murabaha
- Ijarah Wa Iqtina
- Diminishing Musharakah
I will explain from an Islamic Finance practitioner point of view in Singapore, and in layman terms.
1) Murabaha
In a Murabaha or cost plus financing, you select a property and the financial institution acquires it.
The financial institution adds its profit and sells the asset to you at an agreed upon price on a deferred, usually installment basis.
Its like a shopkeeper who sells you goods on credit.
(Cost Price + Profit), you pay back to the shopkeeper on a deferred, usually installment basis.
This is real trade, in accordance with the Quranic injunction:
‘Allah has permitted trading and forbidden interest’.
This transaction is permissible in Islam.
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It is important to note that there MUST be a transfer of ownership from the home seller to the financial institution.
Financial Institution must owned the property first,
then only it can sell it to you, the home buyer.
This is in conjunction with the hadith of Hakeem ibn Hizaam and ‘Abdullah ibn ‘Amr (may Allah be pleased with them both),
Prophet Muhammad (Peace Be Upon Him) mentioned
“Do not sell, what you do not own.”
In Islamic Finance perspective, if the Financial Institution does not own the property, it cannot sell it to you, the home buyer.
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2) Ijarah Wa Iqtina or Ijarah Muntahia Bi’l Tamblik
In an Ijarah or Islamic lease, the financial institution acting as a lessor, buys a property and rents it out to you, the lessee client.
Much later, as part of a seperate agreement, the financial institution offers to sell the property to you.
Transfer the ownership to you through gift.
OR ask you to pay the remaining Ijarah instalments before end of lease term
and after that transfer the ownership of property to you through transfer of legal title.
This is permissible in Islam.
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3) Diminishing Musharakah (Musharakah Mutanaqisah)
In a Diminishing Musharakah, the financial institution and you as the home buyer become partners.
And purchase the property jointly.
You, as the home buyer move into the property.
Perhaps the property is worth SGD200,000. You pay 10% of the price (SGD20,000) as downpayment.
The Financial Institution takes care of the other 90% of the price (SGD180,000).
This agreement results in 10% home ownership belonging to you, the home buyer.
And the remaining 90% to the Financial Institution.
You then gradually acquire the financial institution’s equity shares in the property.
Until all shares are completely transferred to you.
At the same time, you pay rent in proportion to the financial institution’s remaining equity shares,
with each successive rental payment “diminishing” to the extend of the financial institution’s reduction in its share of the property.
The END result, you will own the property 100% completely, thus no longer needs to pay rental.
At no time, you as the homebuyer pay any interest (riba).
You only pay 2 things. Firstly, the house, in small payments, bit by bit.
Secondly, the rent, for the portion of the house which you have not owned yet.
This is permissible in Islam.
(Explanation adapted from Understanding Shari’ah and its application in Islamic Finance (IBIFM)
& Ethica Certified Islamic Finance Handbook)
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As you can see above, the key difference between conventional mortgage and a shariah compliant home financing is that conventional mortgage involves loan of cash on interest, whereas a shariah compliant home financing is strictly the exchange of assets.
Each of the above transactions involves an asset and actual ownership by the financial institution. Ultimately, the financial institution must own some (Diminishing Musharakah) or all (Ijarah Wa Iqtina and Murabaha) of the asset for it to be Islamically acceptable.
Insya’Allah, when shariah compliant home financing facility is introduced in Singapore in the near future, I will be exploring strategies on property investment too.
As of now, if you are looking on the practical aspects on how you can save, accumulate and grow your money the shariah compliant way in Singapore, you can always whatsapp/sms me at 96520134 to schedule a FREE consultation.
Or perhaps click here to schedule an appointment.
You will want to schedule it asap because I can only accomodate 5 slots per week.
Click here to schedule your FREE consultation today!
Take Care! 🙂
by Helmi Hakim | Aug 28, 2017 | Investment
Myth #1: It is EXPENSIVE. It is only reserved for the rich Arabs.
(Arabic Businessmen enjoying a cup of tea)
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Helmi Hakim’s answer: Not true. You can start investing in shariah compliant funds with as little as $5/day or $150/mth.
Gone are the days where shariah compliant instruments are reserved only for the rich and institutional investors with minimal investment amount of $200,000.
Today, common man on the streets in Singapore can also be a shariah compliant investor, with only SGD$150/mth.
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Myth #2: It is obsolete. It is backward. Some lament that Islamic Finance use ancient strategies. More than 1400 years ago.
Might no longer be applicable today.
Today is modern times. Modern times must use modern investment strategies.
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Helmi Hakim’s answer: Not true.
In reality, Islamic Finance have timeless principles as stipulated in the holy Quran and Sunnah of our beloved Prophet Muhammad (Peace and Blessings Be Upon Him) which are relevant and applicable till the day of judgement.
The pertinent principles (no riba, no maysir, no gharar) haven’t change. The application perhaps have changed.
How we apply the pertinent principles essentially does change over time because the modern financial world and business as we know it today is very different to what happened 1400 years ago.
So essentially the modern financial Islamic Finance industry is about taking those crucial, pertinent principles.
And apply them in the modern context.
No riba. No Maysir. No Gharar. In the context of the 21st Century.
In fact, I can argue that most global financial problems in the world today happens because of Riba (Interest), Maysir (Speculation) and Gharar (Uncertainty).
Be it the subprime mortgage crisis in year 2008, the Asian financial crisis in year 1997, Euro Debt Crisis, 1MDB saga, anything you can think of.
Allah S.W.T. has given us the prescriptions to the global economic ailments in the holy Quran and sunnah of our beloved Prophet Muhammad (Peace and Blessings Be Upon Him).
Why don’t we just follow them?
Of course, if I were to lay down everything here, my post will never end.
You can schedule a free consultation session with me to discuss more. Insya’Allah. 🙂
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Myth #3: It is FAKE.
Yek Eleh… They just replace the word “interest” with the word “profits”.
It is still conventional. But just dressed up as Halal.
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Helmi Hakim’s answer: Not true.
Name me any Islamic financial contracts. In essence, all of them are free from riba (interest), maysir and gharar.
Let me explain with a simple example.
Example, I set up a chicken rice stall.
Alhamdulillah.
My chicken rice is delicious.
A lot of customers queue to buy my chicken rice every day.
As a businessman, because I have one chicken rice stall that is so profitable, I want to expand my business.
I want to open up more stalls selling my delicious chicken rice.
Perhaps now my stall is in Tampines.
(Copyright belongs to Google Map)
I want to open one in Punggol, one in Pasir Ris, one in Woodlands, one in Jurong West and one in Somerset.
But, I dont have much money.
So what I do, I become a bond issuer. I approach people like yourself.
You give me $100,000.
I promise you that every quarter, or every half year or perhaps every year, I will give you money.
Regardless, my new chicken rice stall makes money OR lose money,
I will still give you money.
The money that I give you is called coupons.
From shariah compliant perspective, the coupons is not permissible because it is still known as interest and essentially riba.
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So how do we do it the shariah compliant way?
Again, I approach you.
This time round, I invite you to be my business partner in this new stall.
You run the stall for me.
I share with you my secret delicious chicken rice recipe.
At the end of the day, we share our profit and loss.
You take 70%, I take 30%. This is allowed from shariah perspectives.
In Islamic Finance, it is known as Musharakah.
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For another stall, I approach my friend.
This time round, my friend told me that he doesn’t want to run the stall.
But he wants to be an INVESTOR.
Okay. He contributes $50,000 to my new stall.
This time round, we have an agreeable profit sharing ratio.
Perhaps, I take 70% and he takes 30%.
However, if our business loses money, my friend’s loss will be limited to the $50,000 capital that he contributed.
This is allowed from shariah perspectives.
In Islamic Finance, it is known as Mudarabah.
Based on the above example,
I just like to illustrate that the application of Islamic Finance in our daily lives is REAL.
It is not just simply dressing up something that is haram to something that is Halal.
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Myth #4: It is DIFFICULT to understand.
It is too exotic. Too mysterious. Too unknown.
Mudarabah? Murabaha? Musharakah? Ijarah Muntahia Bithambleek?
Very confusing…
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Helmi Hakim’s answer:
Well. The Malay proverb says, “Alah bisa, tegal biasa”.
Anything we do for the first time might feel difficult. But if we do it a lot of times, it becomes easier.
Because it becomes familiar and second nature to us.
In fact, when I first started my journey as a financial consultant in year 2007, I have ZERO educational background in Islamic Finance.
I had Diploma in Accountancy from Ngee Ann Polytechnic.
Sure! You asked me on how to interpret financial statements back then, Insya’Allah, I would be able to assist you.
But you asked me about Islamic Finance, I will stare at you with a blank face.
At that point, I just relied on the Fatwas by MUIS, our religious authority in Singapore. Nothing more than that.
Gradually, I upgrade myself.
I took my degree, Bachelor Of Science (Hons) Banking and Wealth Management with University of Wales (UK).
They have a module on Islamic Finance.
Then, I took an Islamic Finance Certification with Australia Islamic Finance Centre (AUCIF).
Currently, I am studying for my exams, Certified Islamic Finance Executive by Ethica Institute which is based in Dubai.
The point, I am trying to bring across is that we have to start somewhere.
A journey of a thousand miles began with the first step. The first step towards the right direction.
Insya’Allah, if we have set our niat right, Allah S.W.T. will guide us, show us the path and make it easier for us.
So, get started! 🙂
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Myth #5: It is troublesome/leceh/mafan.
Make money, make money only lah. Religion should be set aside.
No need to distinguish whether it is Halal or Haram.
As long we can make money, it is for the greater good right? Why need to think too hard?
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Helmi Hakim’s answer:
There are 2 ways of making money.
The shariah compliant (halal) way. And the non shariah compliant way.
If you can make money the shariah compliant way, why do it the non-shariah compliant way?
At the end of the day, you still make money right? 🙂
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To say that making money the shariah compliant way in Singapore is troublesome is not true at all.
In fact, the basic fundamentals of how shariah compliant fund makes money and non-shariah compliant funds make money is the about the SAME.
The only difference is the underlying assets.
To do it the shariah compliant way, the underlying asset has to be shariah compliant.
No pork. No alcohol. No casinos.
And other pertinent requirements (absence of riba, maysir and gharar) to ensure that the financial transaction and the underlying assets are permissible in Islam.
Shariah compliant. Halal wa Thoyibban.
As Muslims, the practise of our beloved religion, Islam covers all aspects of our life.
Family. Community. Business.
To Ibadah. Morals and even areas such as our personal hygiene.
Islam does not adopt a secular model whereby religion plays little or no role in public affairs.
There is no segregation of ‘church’ and ‘state’ as such.
Religion and our daily lives goes hand in hand! 🙂
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Above are just some myths that I came across when meeting hundreds of Singaporean Muslims out there, to share on how they can plan their finance, the shariah compliant way in Singapore.
If you are looking on the practical aspects on how you can save, accumulate and grow your money the shariah compliant way in Singapore, you can always whatsapp/sms me at 96520134 to schedule a FREE consultation.
Or perhaps click here to schedule an appointment.
You will want to schedule it asap because I can only accomodate 5 slots per week.
Click here to schedule your FREE consultation today!
Take Care! 🙂
by Helmi Hakim | Jul 21, 2017 | Insurance, Investment
Alhamdulillah. I just finished my 2-week army reservist. 🙂
Being in vegetation for a while with combat rations as my food supply, I was deprived of good food.
Many types of food ran into my mind.
Nasi Campur Sinar Cahaya at Pasar Geylang Serai
Roti John Steak Mama Power @ Old Woodlands
Epok Epok Ganja @ 1 Bedok Road
Everything seems so delicious at that point of time! … and then comes, this Nasi Lemak Burger by Macdonalds… 🙂
Okay lah. This is something unique.
Malay food combined with Western Food.
Nasi Lemak combined with burger.
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Never tried before.
So the first thing I did after I outpro and relaxed at home, was to chill at Macdonalds with my wife, sharing a Nasi Lemak Burger.
As I unwrapped my burger… a nice hint of the smell of santan greeted me….
and then out came the coconut flavoured chicken thigh patty, fried egg, caramelised onions, two slices of cucumber and a smear of sambal.
Those who have tried this burger definitely would agree with me, what makes this burger special is the sambal.
The sambal is amazing!
The sweet, spicy cameralised onion sambal is so refreshing, tantalised my tastebuds, and reminded me of the RM1.50 roadside Makcik Nasi Lemak at Johor Bahru.
Sweet, yummy sambal wrapped together with Nasi Lemak in banana leaves and Utusan Malaysia newspaper.
Difficult to find in Singapore, this kind of Nasi Lemak.
Overall, I will give Macdonald Nasi Lemak burger 5/5.
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This Nasi Lemak Burger also serves as a learning lesson for Islamic Finance Practitioners in Singapore.
Nasi Lemak Burger combines the BEST of Malay food – Nasi Lemak – and the BEST of Western food – burgers.
Islamic Finance Practioners can combine the BEST practices in Islamic Financial Planning and Conventional Financial Planning.
Let me explain and give practical examples.
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For Islamic Financial Planning, we save our contingency/emergency funds in Al Wadiah Savings Account.
Alhamdulillah, we know it is shariah compliant because it gives Hibah instead of Interest.
How much to save as contingency funds?
Best practices in conventional finance is to adopt a basic liquidity ratio of 3-6 months.
It means you can have 3-6 months of your monthly expenses in your Al Wadiah Savings account.
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In Islamic Financial Planning, we know in order to buy a house, the shariah compliant way is to use Murabahah, Diminishing Musharakah or Ijarah Wa Iqtina financing facilities.
In the future, once shariah compliant home financing is available in Singapore, we don’t overleverage and immediately
buy properties worth millions of dollars.
Take millions of dollars of shariah compliant financing because it is shariah compliant.
No. We dont do that.
We follow the best practices in conventional finance which is to follow closely this ratio known as,
Total Debt Service Ratio (TDSR).
TDSR= Total Debt Yearly Repayment/Annualised Take Home Pay
This ratio measures the proportion of take home income, used to make regular payment of debts.
If it is lower than 35%, means HEALTHY.
It means that there is sufficient take home pay available to service debt repayments.
A ratio of 45% or above for this ratio is generally considered unhealthy and may risk of not being able to service these regular debt repayments.
Follow the recommended TDSR guidelines, even though if the financing facilities are shariah compliant.
Dont overleverage.
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When you invest your money the shariah compliant way for your retirement, you can follow certain personal financial ratio guidelines.
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Savings Ratio = Savings/Gross Income
This ratio calculate the proportion of your income, you set up for savings.
You need to save at least minimum 10% of your gross income.
Gross income in this formula should be taken from the cashflow statement.
(Click here to download a free report on how you can create your own cashflow statement)
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Investment Assets To Net Worth Ratio = Invested Assets/Networth
This ratio compares the value of invested assets with networth.
An individual should have clear targets on accumulating capital for the longer term, excluding investment in the house that you are staying in.
The target is to have sufficient assets accumulated for retirement and other financial purposes.
If it is more than 50%, means HEALTHY.
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Above are just some best practices in conventional finance that I personally adopt to my Islamic Financial Planning services.
If you are looking on the practical aspects on how you can save, accumulate and grow your money the shariah compliant way in Singapore,
you can always whatsapp/sms me at 96520134 to schedule a FREE consultation.
Or perhaps click here to schedule an appointment.
You will want to schedule it asap because I can only accomodate 5 slots per week.
And next week, I will be heading for my long holiday to Oman and Dubai. Insya’Allah.
Click here to schedule your FREE consultation today!
Take Care! 🙂
by Helmi Hakim | Jun 25, 2017 | Investment, Miscellaneous
Alhamdulillah, today is Hari Raya Puasa. One of the best things about celebrating Hari Raya is the mountain of delicious food we get to eat. Haha! 🙂
What are some of your favourite Hari Raya food?
Mine includes lodeh,
sambal goreng
and of course,
ayam masak merah!!!
My favourite! 🙂
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These are best eaten with ketupat and perhaps with a generous heap of serunding.
Oh! Talking about ketupat, I love my mother-in-law’s ketupat.
Because her ketupat is unique.
It is special.
It is ketupat with santan.
Very different from the normal ones, because it originates from Malacca, my father-in-law’s hometown! 🙂
(My mother in law’s ketupat santan)
(Serunding)
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Do you know how to make these dishes?
Every year, I rely on my mother to cook for us these tantalising, traditional home-cooked dishes.
But I do know these dishes are the magical results of combining several ingredients.
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Lodeh
Lodeh is a simple but filling dish.
It’s got tons of veggies in it – cabbage, carrot, long beans etc – and also tempe, tauhu and chillies.
This dish requires the use of coconut milk to give it that ‘lemak’ taste, and frankly, lodeh wouldn’t be lodeh without it.
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Rendang
(My mother’s home cooked Rendang)
Rendang is the quintessential Raya dish – it seems like it wouldn’t be Raya without this rich and aromatic spicy meat dish.
You can either use beef or chicken for rendang. This is quite a difficult dish to make, because the flavors need to balanced owing to the use of numerous spices and herbs.
Some of the ingredients used include lemongrass, garlic, turmeric, ginger and galangal. And not forgetting coconut milk!
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Ayam Masak Merah
Ayam masak merah is a delight on our tongues – spicy, sweet and sour all at the same time!
Once again, this a recipe that needs to have the flavors balanced nicely.
Two main star ingredients include chillies (dried and paste) and tomato ketchup – without either one, your dish will fall flat.
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Ketupat
Ketupat is perhaps the easiest dish to make – you just need rice, a bit of salt and water.
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Serunding
As for serunding, though there is the beef version, usually the kind that is served as condiment along with ketupat and other dishes is the spiced coconut one (serunding kelapa).
Serunding kelapa requires a mix of various spices and then cooked over low heat for a period of time until the coconut dries up and absorbs the flavors.
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Cooking is an art, really.
You take different ingredients but in the precise quantity and when done right, you’ll get a delicious dish guaranteed to satisfy the tummy.
And you mixed all the dishes together,
the ketupat,
the lodeh,
the rendang,
the ayam masak merah
and serunding.
You feel like you are in heaven!!! 🙂
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Similarly, think of making money the shariah compliant way in Singapore as putting together a great dish.
In order to successfully plan for your financial future, you cannot just rely on ONE ingredient or strategy.
Sure you can put all your money in shariah compliant Al Wadiah savings account.
But with a Hibah of only 0.6-0.7%/annum, its difficult for you to be rich.
Or achieve the financial goals that you set for yourself.
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The best way to achieve your financial goal is to combine a FEW powerful strategies into one.
You can invest your money in shariah compliant shares or Halal REITS
(My personal watchlist of shariah compliant shares that I share with my clients)
Buy in shariah compliant funds
Invest in commodities
Earn rental income from investment properties
Or perhaps run your own profit making business.
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When cooking rendang, you need to do step A, B, C, D and E, if not your rendang tak menjadi.
Similarly when you select a particular stock, you have to ensure it is shariah compliant by going through a few steps
called shariah compliant screening methodology.
Which shariah compliant screening methodology do you adopt?
S&P?
Dow Jones?
MSCI?
AAOIFI?
or perhaps Malaysia’s Shariah screening methodology for stocks listed on Bursa Malaysia established by the Shariah Advisory Council of the Securities Commission Malaysia?
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You want to calculate the intrinsic value of the stock. Which model are you using?
Discounting Cashflow Model?
Gordon Growth Model?
Dividend Discount Model?
Residual Income Model?
All these steps that you take before investing your hard earned money into stocks is just like cooking.
You need to know the ingredients, the quantity required and a bit of love to ensure that your dish tastes delicious!
There are clearly steps you need to take when investing in stocks, the shariah compliant way in Singapore.
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After you invest in shares, that is not enough.
You diversify your portfolio. You look at diferent types of shariah compliant vehicles to achieve your financial goals.
Ketupat alone doesnt taste nice. Ketupat with lodeh, with sambal, with serunding, with rendang….OMG!!! It tastes awesome!!! 🙂
You do similar due dilligence when investing in commodities, investment funds, properties or even running your own business.
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Example, when you will like to set up a business, you wont haphazardly just invest your money blindly to rent a shop and start your brick and motar business.
You have to do your research first.
For me, I share with my clients these 6 steps on how you can start a business which generate consistent profits for you.
If you can understand Malay Language, you can click this link.
First Part: https://www.youtube.com/watch?v=vMAH3EYxHrU
Second Part: https://www.youtube.com/watch?v=MQdZcF2nxQE
Final Part: https://www.youtube.com/watch?v=i8rHN_vwPFw
If you dont understand Malay, these are the 6 Steps.
1) Check whether the business or product/service you gonna sell, got Demand or not
2) Unique Selling Proposition (You got to differentiate yourself, dont be a commodity)
3) Market Can See You All The Time (Ensure your target market always see your brand)
4) Add Massive Value To Your Customers
5) Cross Sell, Upsell, Downsell
6) Referral
The point here, these 6 steps is like you cooking your rendang.
When cooking rendang, you need to do step A, B, C, D and E, if not your rendang tak menjadi.
And when you add your rendang together with other dishes, it tastes AWESOME!
Similarly, when you combine making money through profit making business + shariah compliant investment,
it becomes a SUPER COMBO POWER!!!
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So my friends.
If you are looking for a shariah compliant financial expert to help you save, accumulate and grow your money the shariah compliant way,
you can always whatsapp/sms me at 96520134 to schedule a FREE consultation.
Or perhaps click here to schedule an appointment.
You will want to schedule it asap because I can only accomodate 5 slots per week.
And next week, I need to go for my compulsory army reservist.
Click here to schedule your FREE consultation today! 🙂
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Last but not least, I will like to wish all my Muslim friends,
Selamat Hari Raya Aidilfitri Minal ‘Aidin Wal Faizin Kullu ‘Amin wa antum bi khair.
And my Non Muslim friends, Happy Holidays! 🙂
by Helmi Hakim | Jan 21, 2017 | Insurance, Investment
So you’ve set your goals for this new year! Congratulations! 🙂
Hope you did use the S.M.A.R.T method we’ve talked about before.
One of my personal goals for year 2017 is to hit my first MDRT (Million Dollar Round Table), the shariah compliant way.
By reaching out to Muslim families in Singapore who like to plan their finance, the halal way. The shariah compliant way.
That is my personal goal. To achieve your own personal goals, you need strategies.
Here are 3 important questions you have to ask yourself first to uncover proven, confirm to work strategies that can help you achieve your goals.
1) What new knowledge/skills do you need?
2) Who can help you achieve your goals?
3) How do you achieve your goals faster?
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1. WHAT new knowledge/skills do you need?
There is a saying,
“INSANITY is doing the same thing over and over again and expecting different results.”
Which means you cannot just rely on whatever knowledge and skills you have now.
Life is a constant learning journey: the arrogant is he who thinks he knows or has everything he needs to succeed.
Once you start to seriously move towards your goals, you’ll realize you’ll need new knowledge or skill.
Sit down for a moment and really think through this question.
What new knowledge/skills do you need? 🙂
Personally for me to achieve my MDRT, these are the new knowledge and skills that I need.
- I need to acquire knowledge on how to attract qualified leads. It can be online or offline strategies.
- I need to upgrade my knowledge on Islamic Finance. Sure, I took an Islamic Finance module during my degree
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- And Islamic Finance Certification with Australia Centre For Islamic Finance few years back.
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It is time to refresh and upgrade myself with a new Islamic Finance certification for year 2017!
The industry is changing rapidly, and getting an additional certification will bolster my knowledge and effort to advice my clients better.
2. WHO can help you achieve your goals?
There’s a famous saying: No man is an island.
We cannot possibly do things on our own.
Our knowledge, skill and understanding of the world is limited. We will need help.
With the example of saving up, who do you think can best help you achieve your goals?
Maybe you can approach a financial planner (or me! hehehe).
And together we work out the best plan to to achieve your goal. 🙂
Or perhaps your spouse can help keep you accountable. If you know you can’t be disciplined to save, then she can be the ‘unofficial’ banker.
This might mean going to her every month and asking her to help hold on to the money you plan to save.
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For me personally, to achieve my MDRT, I look for qualified people that can help me achieve my goals too. I surround myself with these people.
– This year itself, I have signed up for Ethica’s Certified Islamic Finance Executive™ (CIFE™) course.
Ethica’s Certified Islamic Finance Executive™ (CIFE™) is a globally recognized certificate accredited by scholars to fully comply with AAOIFI, the world’s leading Islamic finance standard.
Till date, I do not know of any practicing financial planner in Singapore who are trained AAOIFI compliant certifications. AAOIFI compliant is the de facto standard in over 90% of the world’s jurisdictions.
Let me be the FIRST amongst the 20,000 financial planners in Singapore! Insya’Allah… 🙂
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– I have also signed up, for an online marketing 2 days practical workshop, where I will learn more on facebook marketing. Many of you today, my blog readers are already my clients.
You get to know me over the internet after reading my blog posts or viewing my youtube videos.
Insya’Allah, I will find qualified people to help me, in my mission to spread the goodness of Islamic Finance to our fellow Singaporeans.
Let us make every single step to find rezeki in the world, an ibadah. May our efforts benefit us in this world, and hereafter. Insya’Allah…
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– Next week, I am meeting my lawyers to discuss further on trademarks, that I will register for my signature programs, “Unlock Your Money” session and “Your Financial M.A.P.” session.
I first learnt about trademarks and copyrights, when I was a full time student in Ngee Ann Polytechnic many years back.
I took Business Law as one of the modules, while undertaking Diploma In Accountancy.
Little did I know, many years later, I would be liaising with lawyers to register my own personal trademarks.
Exciting!!! 🙂
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– I have also reached out to my Arab teacher in Egypt, where I will continue back learning Arabic Language via Skype with him every Monday, after Subuh prayers.
In my opinion, the best time time to learn or memorise something, is before you sleep, and after you wake up.
Learning Arabic Language has been very tough for me.
It is no easy feat. :/
Pray for me that I will istiqamah in my journey to learn how to read, understand and speak Arabic Language with confidence. Insya’Allah! 🙂
3. HOW do you achieve your goals faster?
Alright, you’re almost ready to make your goals come true.
So the 3rd question you should ask yourself is how do you achieve your goals faster?
I like to add some buffer, whenever I set my goals.
So even though, I target to achieve MDRT for year 2017…..
I shall target to achieve my MDRT by 31st October 2017, which happens to be my birthday! 🙂
But how? Easier said than done! 🙂
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I remembered, one of the quotes of wisdom, by a Singaporean entrepreneur, Sant Qiu,
“Whatever you can do, you can do it bigger, better, faster……
with the right team. So assemble the right team as early as you can and achieve bigger, better results faster.”
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You might have heard about Robo Advisor.
I am in the process of creating my own personal shariah compliant Robo Advisor.
I will also be engaging para planners.
They will work hand in hand with me to assist me in developing comprehensive, powerful shariah compliant financial planning strategies for my clients in Singapore.
My team will comprise of robots and humans.
We will alter the history of the financial planning industry in Singapore, the way financial planners run our financial practice in Singapore.
By introducing my personal, revolutionary financial planning practice hybrid model- that combines the best of high-tech and high-touch.
It never happen before, and change is inevitable.
In fact, the process has already begun. You might have heard about Takaful.sg
That is one of my fintech intiatives, which is already “live” in Singapore.
Many, many, more exciting things to come! 🙂
So, there I cover 3 important questions you have to ask yourself first to uncover proven, confirm to work strategies that can help you achieve your goals.
1) What new knowledge/skills do you need?
2) Who can help you achieve your goals?
3) How do you achieve your goals faster?
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If you like to receive undivided attention from me as a financial planner, to help you plan your finance the shariah compliant way in Singapore, you can schedule an appointment with me here. Or just whatsapp/SMS me direct at 96520134.
Because of my busy schedule, I can only accommodate additional 5 slots every week, so do click the link, and schedule an appointment with me now.
See you soon. Insya’Allah… 🙂
