Turkey’s failed coup creates an unlikely winner: Islamic banking
As the Turkish people pick up the pieces following the attempted military takeover of their government on June 15, speculation about the country’s economic future is rampant. From a slump in capital and credit markets to a downgrade in the country’s sovereign credit rating, many pundits are bearish about the long-term prospects for the republic. […]
Grow Your Advisory Firm with the American Muslim Investor
Grow Your Advisory Firm with the American Muslim Investor Are you interested in tapping into a market with above average levels of education and income? According to recent studies analyzing the American Muslim market: American Muslims have more than $100 billion in discretionary income. (Dinar Standard) Ninety-eight percent of Muslim consumers feel American brands “don’t […]
Azzad announces completion of independent Islamic audit
(Falls Church, Virginia, 7/12/16) — A leader in Islamic finance in the United States announced today the successful completion of an external Shariah audit and verification of its policies and procedures. Azzad Asset Management, investment advisor to the Azzad Funds, became the first firm in the United States to obtain such a verification with a […]
Avoid this fatal IRA rollover error
The IRS allows you to correct most errors. However, there is one error you cannot fix that could seriously harm your retirement funds. It’s a relatively new rule (became effective Jan. 1, 2015), and if you aren’t aware of it, it can cost you dearly. The rule: An individual can only do one 60-day IRA-to-IRA […]
Investing in a post-Brexit world
The United Kingdom’s exit from the European Union, or “Brexit,” became official yesterday with 52% of the vote. As expected, markets are reeling from the resulting uncertainty. Even though there is no precedent for what’s to come, we know a couple of things for sure. First, it will take two years to formally withdraw from […]
Turn lemons into lemonade during periods of volatility
Staying focused on the bright side is admittedly hard to do when the markets are volatile. Fortunately, there are always some silver linings amid market volatility. For investors who feel the urge to do something in response to the markets, here are four things you can do to help minimize your tax exposure without altering […]
Azzad clients to donate more than $4 million in charity this Ramadan
FALLS CHURCH, Va., June 21, 2016 — Azzad Asset Management, a socially responsible, faith-based investment firm, announced today that its Muslim clients are expected to donate a record amount of money this year in order to fulfill their religious obligation of giving in charity a certain percentage of their wealth. The company calculates that its clients will […]
The facts and fiction behind self-directed IRAs
Not long ago, the North American Securities Administrators Association (NASAA) issued a warning to investors about custodians who handle self-directed individual retirement accounts (IRAs). A self-directed IRA holds nontraditional investments like real estate, metals, or limited partnerships. These accounts have been the subject of growing regulatory scrutiny and punitive action. Before investing in a self-directed […]
Three questions to ask when shopping for an investment
Investors who pay attention only to a fund’s return are missing out on valuable information. Determining how a fund achieved its returns can be just as important as analyzing the returns themselves. Evaluating a fund properly not only helps you compare it with other funds; it lets you see whether a fund matches your investing […]
Calculating Zakah on Modern Financial Assets (2016)
Calculating Zakah on Modern Financial Assets Zakah refers to the act of purifying one’s wealth by giving a portion of it to those in need. When calculating zakah, many questions can arise: Do I owe zakah on my IRA? How about on my 401(k) plan at work? What if interest-bearing bonds are part of the […]
